Bid Summary
Fort Lee Federal Savings Bank, FSB, Fort Lee, New Jersey
Closing Date: April 20, 2012
| Bidder | Type of Transaction | Deposit Premium % | 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: Alma Bank, Astoria, NY | All Deposit P&A | 1.85% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | No | Yes | N/A |
| Cover - North Jersey Community Bank, Englewood Cliffs, NJ | All Deposit P&A | 0.30% | NA | NA | NA | NA | NA | NA | NA | No | Yes | NA |
| Other Bid: None |
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.
- For more information on the bid disclosure policy, see https://www.fdic.gov/resources/resolutions/bank-failures/failed-bank-list/biddocs.html