Bid Summary
First National Bank of Crestview, Crestview, FL
Closing Date: January 16, 2015
| Bidder | Type of Transaction | Deposit Premium % | Asset Premium/(Discount) $(000) | Optional OREO Pool (% of BV) | Conforming Bid |
|---|---|---|---|---|---|
| Winning bid and bidder: First NBC Bank, New Orleans, LA | All deposit Whole Bank P&A | 0.00% | $644 | 51.32% | Y |
| Cover Bid: United Fidelity Bank, FSB, Evansville, IN | All deposit Whole Bank P&A | 0.00% | $(50) | No Bid | Y |
| Other Bid: | All Deposit Whole Bank P&A | 0.00% | $(2,650) | N/A | Y |
| Other Bid: | All Deposit Whole Bank P&A | 0.00% | $(3,590) | 42.80% | Y |
| Other Bid: | All Deposit Whole Bank P&A | 0.00% | $(980) | No Bid | Y |
| Other Bid: | All Deposit Whole Bank P&A | 0.00% | $(8,102) | 24.82% | Y |
| Other Bid: | All Deposit Whole Bank P&A | 1.00% | $(833) | 51.32% | Y |
| Other Bid: | All Deposit Whole Bank P&A | 1.00% | $(833) | No Bid | Y |
| Other Bid: | All Deposit Whole Bank P&A | 0.00% | $(4,370) | No Bid | Y |
| Other Bid: | All Deposit Whole Bank P&A | 0.00% | $(2,189) | No Bid | N -1 |
| Other Bid: | All Deposit Whole Bank P&A | 0.00% | $(896) | No Bid | N - 2 |
| Other Bid: | All Deposit Whole Bank P&A | 0.00% | $(1,782) | No Bid | N - 3 |
| Other Bid: | All Deposit Whole Bank P&A | 0.00% | $(5,940) | No Bid | Y |
| Other Bid: | All Deposit Whole Bank P&A | 0.00% | $(3,759) | No Bid | N - 1 |
| Other Bid: | All Deposit Whole Bank P&A | 0.00% | $(2,466) | No Bid | N - 2 |
| Other Bid: | All Deposit Whole Bank P&A | 0.00% | $(3,352) | No Bid | N - 3 |
| Other Bid: | All Deposit Whole Bank P&A | 1.50% | $(8,872) | No Bid | Y |
| Other Bid: | All Deposit Whole Bank P&A | 1.50% | $(8,872) | 38.52% | Y |
Conforming Bid Notes:
1- Excludes loans totaling $2.2 million.
2- Excludes loans totaling $5.6 million.
3- Excludes loans totaling $4.1 million.
Other Bidder Names & Locations:
Centennial Bank, Conway, AR
First Atlantic Bank, Jacksonville, FL
First Florida Bank, Destin, FL
First NBC Bank, New Orleans, LA
United Fidelity Bank, Evansville, IN
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 bid that: a. Is less costly than liquidation and b. Is the least costly bid after excluding all bids submitted by the winning bidder.
- There is no linkage between bidder names and bids, except in the case of the winning bid and the 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 https://www.fdic.gov/resources/resolutions/bank-failures/failed-bank-list/biddocs.html