Proficio Bank, Cottonwood Heights, UT
Closing Date: March 3, 2017
|Bidder||Type of Transaction||Deposit Premium %||Asset Premium/ (Discount) $(000)||Optional OREO Pool (% of BV)||Conforming Bid|
|Winning Bid and Bidder:
Cache Valley Bank, Logan, UT
|All deposit Whole Bank||0.00%||($5,491)||No bid||No|
Omitted from this disclosure
|Omitted from this disclosure||Omitted from this disclosure||Omitted from this disclosure||Omitted from this disclosure||Omitted from this disclosure|
|Other||All deposit Whole Bank||0.50%||($28,043)||No bid||No|
Other Bidder Names & Locations:
First-Citizens Bank and Trust Company, Raleigh, NC
People's Intermountain Bank, American Fork, UT
- 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 cover (second best) bid is the bid that: a. Is less costly then liquidation and b. Is the least costly bid after excluding all bids submitted by the winning bidder.
- There is no linkage between bidder names and bids, except in the case of the winning and cover bids.
- There may be more bids than bidders because one or more bidders submitted more than one bid.
- For more information on the bid disclosure policy, see https://www.fdic.gov/about/freedom/biddocs.html.