Skip Header

Federal Deposit
Insurance Corporation

Each depositor insured to at least $250,000 per insured bank

Bid Summary

Imperial Capital Bank, La Jolla, CA
Closing Date: December 18, 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: City National Bank, Los Angeles, CA All deposit whole bank with loss share 0.24% $(244,000) 80% 95% N/A 80% 95% N/A No No (1) N/A
Cover (second place): OneWest Bank, FSB, Pasadena, CA All deposit whole bank with loss share 0.00% $(380,000) 80% 95% N/A 80% 95% N/A No Yes N/A
Other Bids: None                        

(1) City National Bank's bid was nonconforming as it included a provision that allows it to sell up to $400 milion of commercial shared loss assets with loan-to value greater than 75 percent during the last nine months of the seventh year of the 7-year commercial loss share agreement contract.


Back to top