Heritage Banking Group, Carthage, MS
Closing Date: April 15, 2011
|Bidder||Type of Transaction||Deposit Premium/(Discount) %||Asset Premium/(Discount) $(000) / %||SF Loss Share Tranche 1||SF Loss Share Tranche 2||SF Loss Share Tranche 3||Commercial Loss Share Tranche 1||Commercial Loss Share Tranche 2||Commercial Loss Share Tranche 3||Value Appreciation Instrument||Conforming Bid||Linked|
|Winning bid and bidder: Trustmark National Bank Jackson, MS||All deposit whole bank with loss share||0.15%||$ (23,100)||80%||80%||N/A||80%||80%||N/A||No||Yes||N/A|
|Cover: Progressive Bank, Winnsboro, LA||All deposit whole bank with loss share||0.00%||$ (31,000)||80%||80%||N/A||80%||80%||N/A||No||Yes||N/A|
|Other Bids: None|
- 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 winner bidder.
- For more information on the bid disclosure policy, see www.fdic.gov/about/freedom/biddocs.html