Bid Summary
New Liberty Bank, Plymouth, MI
Closing Date: May 14, 2010
| Bidder | Asset Discount | Deposit Premium | First Loss Tranche | Type |
|---|---|---|---|---|
| Winning: Bank of Ann Arbor, Ann Arbor, MI | 10.4955% | 0% | 0% | All deposit whole bank with loss share |
| Cover (second place)- First Michigan Bank, Troy, MI | 16.55% | 0% | 0% | All deposit whole bank with loss share |
| Other Bids: None |
Notes:
- 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. 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.
- For more information on the bid disclosure policy, see https://www.fdic.gov/resources/resolutions/bank-failures/failed-bank-list/biddocs.html