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Bid Summary

Security Bank of North Metro
Woodstock, GA
Closing Date: July 24, 2009

Winning Bidder: State Bank and Trust Company, Pinehurst, GA
Winning Bid: All deposits, whole bank with loss share Asset Discount of $35 million, Deposit premium 0%

Other Bids: None


- 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. If any bids were received that would have been more costly than liquidation, they have been excluded from this summary.

- For more information on the bid disclosure policy, see http://www.fdic.gov/about/freedom/biddocs.html.

Last Updated 08/17/2011 cservicefdicdal@fdic.gov