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Bid Summary

Peoples First Community Bank
Panama City, FL
Closing Date: December 18, 2009

Winning Bidder: Hancock Bank, Gulfport, MS

Winning Bid: All deposits, modified whole bank with loss share – Asset Discount of $236 million, Deposit Premium 1%


No other bids were received.


- 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 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.

Last Updated 04/02/2010 cservicefdicdal@fdic.gov