Parkway Bank, Lenoir, NC
Closing Date: April 26, 2013
|Bidder||Type of Transaction||Deposit Premium/(Discount) %||Asset Premium/(Discount) $(000) / %||SF Loss Share Tranche 1||SF Loss Share Tranche 2||SF Loss Share Tranche 3||Commercial Loss Share Tranche 1||Commercial Loss Share Tranche 2||Commercial Loss Share Tranche 3||Value Appreciation Instrument||Conforming Bid||Linked|
|Winning bid and bidder: CertusBank, N.A., Easley, SC||All deposit whole bank||0.00%||$(13,500)||N/A||N/A||N/A||N/A||N/A||N/A||No||No||N/A|
|Other:||All deposit whole bank||0.00%||$(22,400)||N/A||N/A||N/A||N/A||N/A||N/A||No||No||N/A|
|Other:||All deposit whole bank||0.00%||$(32,677)||N/A||N/A||N/A||N/A||N/A||N/A||No||No||N/A|
Other Bidder Names:
Bank of the Ozarks, Little Rock, AR
Peoples Bank, Newton, NC
- 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. Bids for loss share, if any, were valued using a discounted cash flow analysis for the loss share portfolio over the life of the loss share agreement.
- The cover bid is the bid that: a. Is less costly than liquidation and b. Is the least costly bid after excluding all bids submitted by the winning bidder.
- The Other Bidder Names and the Other Bids are in random order. There is no linkage between bidder names and bids, except in the case of the winning bid.
- For more information on the bid disclosure policy, see www.fdic.gov/about/freedom/biddocs.html.