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Bid Summary

First Heritage Bank
Snohomish, WA
Closing Date: May 27, 2011



Bidder Type of Transaction Deposit Premium/(Discount) % Asset Premium/(Discount) $(000) SF Loss Share Tranche 1 SF Loss Share Tranche 2 SF Loss Share Tranche 3 Commercial Loss Share Tranche 1 Commercial Loss Share Tranche 2 Commercial Loss Share Tranche 3 Value Appreciation Instrument Conforming Bid Linked
Winning bid and bidder:
Columbia State Bank Tacoma,WA
All deposit whole bank with loss share 0.75% $(10,500) 80% 80% N/A 80% 80% N/A No Yes Yes
Cover:
Heritage Bank, Olympia,WA
All deposit whole bank 0.50% $(42,100) N/A N/A N/A N/A N/A N/A No Yes Yes
Other Bid: All deposit whole bank with loss share 1.00% $(10,500) 80% 80% N/A 80% 80% N/A No Yes Yes
Other Bid: All deposit whole bank 0.75% $(37,500) N/A N/A N/A N/A N/A N/A No Yes Yes
Other Bid: All deposit whole bank 1.00% $(37,500) N/A N/A N/A N/A N/A N/A No Yes Yes
Other Bid: All deposit whole bank 0.50% $(42,100) N/A N/A N/A N/A N/A N/A No Yes Yes


Other Bidder Names:
Columbia State Bank, Tacoma, WA
Heritage Bank, Olympia, WA

Notes:

- The winning bidder's acquisition of all the deposits was the least costly resolution compared to a liquidation alternative. The liquidation alternative was valued using valuation models to estimate the market value of the assets. Bids for loss share, if any, were valued using a discounted cash flow analysis for the loss share portfolio over the life of the loss share agreement.

- The cover bid is the least costly bid after excluding all bids submitted by the winning bidder.

- The Other Bidder Names and the Other Bids are in random order. There is no linkage between bidder names and bids, except in the case of the winning bid and cover bid.

- There are more bids than bidders because one or more bidders submitted more than one bid.

- For more information on the bid disclosure policy, see http://www.fdic.gov/about/freedom/biddocs.html.


Last Updated 06/05/2012 cservicefdicdal@fdic.gov