Neighborhood Community Bank, Newnan, GA
Closing Date: June 26, 2009
CharterBank, West Point, GA
All deposits, whole bank with loss share - Asset Discount of $26.9 million, Deposit Premium 0%.
Other Bidder Names & Locations:
- The winning bidder's acquisition of all the deposits was the least costly resolution compared to a liquidation alternative and the other bid. The liquidation alternative was valued using valuation models to estimate the market value of the assets. The bid for loss share was valued using a discounted cash flow analysis for the loss share portfolio over the life of the loss share agreement.
- Although two bids were received for this institution, the second bid would have been more costly than liquidation. It has therefore been excluded from this summary.
- For more information on the bid disclosure policy, see www.fdic.gov/about/freedom/biddocs.html.