Home Federal Savings Bank, Detroit, MI
Closing Date: November 6, 2009
|Bidder||Type of Transaction||Deposit Premium/(Discount) %||Asset Premium/(Discount) $(000) / %||SF Loss Share Tranche 1||SF Loss Share Tranche 2||SF Loss Share Tranche 3||Commercial Loss Share Tranche 1||Commercial Loss Share Tranche 2||Commercial Loss Share Tranche 3||Value Appreciation Instrument||Conforming Bid||Linked|
|Winning bid and bidder: Liberty Bank and Trust Co., New Orleans, LA||All deposit whole bank||0.00%||$(6,022)||N/A||N/A||N/A||N/A||N/A||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 and the other bids. The liquidation alternative was valued using valuation models to estimate the market value of the assets. Bids for loss share were valued using a discounted cash flow analysis for the loss share portfolio over the life of the loss share agreement.If any bid would have been more costly than liquidation they have been excluded from this summary.
- For more information on the bid disclosure policy, see http://www.fdic.gov/about/freedom/biddocs.html