Bid Summary
Slavie Federal Savings Bank, Bel Air, MD
Closing Date: May 30, 2014
| Bidder | Type of Transaction | Deposit Premium % | Asset Premium/(Discount) $(000) | Optional Loan Pool 100 SFR & HELOC (% of BV) | Optional Loan Pool 200 HELOC (% of BV) | Optional Loan Pool 300 C&I (% of BV) | Optional Loan Pool 400 CRE, ADC, Land (% of BV) | Optional Loan Pool 500 Non-Perf C&I (% of BV) | Optional Loan Pool 600 Non-Perf CRE Loans (% of BV) | Optional Loan Pool 700 Non-Perf Land & ADC (% of BV) | Optional ORE Pool (% of BV) | Conforming Bid |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Winning Bid and Bidder: Bay Bank, FSB, Lutherville, MD |
All Deposit Basic P&A with Optional Pools | 0.20% | $0 | 92.10% | 92.00% | 91.80% | 94.00% | 82.40% | 84.10% | 84.50% | No Bid | Yes |
| Cover Bid: The Bank of Glen Burnie, Glen Burnie, MD |
All Deposit Whole Bank | 0.00% | $(29,830) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | No Bid | Yes |
| Other Bid: | All Deposit Basic P&A with Optional Pools | 0.20% | $0 | 91.80% | 91.60% | 91.50% | 93.60% | 82.10% | 83.70% | 84.10% | 55.00% | Yes |
| Other Bid: | All Deposit Whole Bank | 0.20% | $(9,725) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | No Bid | Yes |
| Other Bid: | All Deposit Whole Bank | 0.20% | $(10,075) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 55.00% | Yes |
| Other Bid: | All Deposit Basic P&A with Optional Pools | 0.20% | $0 | 92.90% | 92.10% | 92.30% | 94.00% | No Bid | No Bid | No Bid | No Bid | Yes |
| Other Bid: | All Deposit Whole Bank | 0.20% | $(7,198) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | No Bid | No - 1 |
| Other Bid: | All Deposit Whole Bank | 0.00% | $(25,992) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 60.00% | No - 2 |
| Other Bid: | All Deposit Whole Bank | 0.88% | $(40,278) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 50.00% | Yes |
| Other Bid: | All Deposit Whole Bank | 0.00% | $(39,039) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 60.00% | Yes |
Conforming Bid Notes:
1- Excludes three non-performing loan pools totaling $12.7 million.
2- Excludes loans totaling $18.4 million.
Other Bidder Names & Locations:
Bay Bank, FSB, Lutherville, MD
Howard Bank, Ellicott, MD
Republic Bank and Trust Company, Louisville, KY
Notes:
- 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.
- There is no linkage between bidder names and bids, except in the case of the winning bid and the cover bid.
- There are 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/resources/resolutions/bank-failures/failed-bank-list/biddocs.html