Bid Summary
Nevada Commerce Bank, Las Vegas, NV
Closing Date: April 8, 2011
| 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: City National Bank, Beverly Hills, CA | All deposit whole bank with loss share | 0.71% | $(20,455) | 80% | 80% | N/A | 80% | 80% | N/A | No | Yes | No |
| Cover (second best): City National Bank, Beverly Hills, CA | All deposit whole bank with loss share | 0.71% | $ (44,602) | 0% | 80% | N/A | 0% | 80% | N/A | No | Yes | No |
| Other Bids: 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. The 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.
- For more information on the bid disclosure policy, see https://www.fdic.gov/resources/resolutions/bank-failures/failed-bank-list/biddocs.html