Bid Summary
Valley Bank, Fort Lauderdale, FL
Closing Date: June 20, 2014
| Bidder | Type of Transaction | Deposit Premium % | Asset Premium/(Discount) $(000) | Optional Loan Pool 100 (performing pool) (% of BV) | Optional Loan Pool 200 (non-performing pool) (% of BV) | Optional Loan Pool 300 ("sold" pool) (% of BV) | Optional Loan Pool 400 ("purchased" pool) (% of BV) | Optional OREO Pool (% of BV) | Conforming Bid |
|---|---|---|---|---|---|---|---|---|---|
| Winning Bid and Bidder: Landmark Bank, NA, Fort Lauderdale, FL |
All deposit basic P&A with optional loan pools | 0.00% | N/A | 91.20% | 74.50% | 83% | 65.70% | 67.90% | Yes |
| Cover: Centennial Bank, Conway, AR |
All deposit basic P&A with optional loan pools | 0.00% | N/A | 84.90% | No Bid | 75.41% | 86.18% | No Bid | No - 1,2 |
| Other Bid: | All deposit basic P&A with optional loan pools | 0.00% | N/A | 84.90% | No Bid | 75.41% | 86.18% | No Bid | No - 1,2,3 |
| Other Bid: | All deposit basic P&A with optional loan pools | 0.00% | N/A | 83.56% | 46.87% | 74.07% | 84.84% | No Bid | No - 1 |
| Other Bid: | All deposit basic P&A with optional loan pools | 0.00% | N/A | 83.56% | 46.87% | 74.07% | 84.84% | No Bid | No - 1,3 |
| Other Bid: | All deposit whole bank | 0.00% | $ (8,175) | N/A | N/A | N/A | N/A | No Bid | No - 1,2 |
| Other Bid: | All deposit whole bank | 0.00% | $ (8,175) | N/A | N/A | N/A | N/A | No Bid | No - 1,2,3 |
| Other Bid: | All deposit whole bank | 0.00% | $ (12,100) | N/A | N/A | N/A | N/A | No Bid | No - 1 |
| Other Bid: | All deposit whole bank | 0.00% | $ (12,100) | N/A | N/A | N/A | N/A | No Bid | No - 1,3 |
| Other Bid: | All deposit whole bank | 0.00% | $ (13,138) | N/A | N/A | N/A | N/A | 67.10% | Yes |
| Other Bid: | All deposit basic P&A with optional loan pools | 0.00% | N/A | 91.20% | 74.50% | No Bid | No Bid | 67.10% | Yes |
| Other Bid: | All deposit basic P&A with optional loan pools | 0.00% | N/A | 85.10% | No Bid | No Bid | 85.10% | No Bid | No - 4,5 |
| Other Bid: | All deposit whole bank | 0.00% | $ (14,995) | N/A | N/A | N/A | N/A | No Bid | No - 6 |
| Other Bid: | All deposit whole bank | 0.00% | $ (13,814) | N/A | N/A | N/A | N/A | No Bid | No - 6,7 |
| Other Bid: | All deposit basic P&A with optional loan pools | 0.00% | N/A | 83.14% | 66.65% | No Bid | No Bid | No Bid | No - 6,8 |
| Other Bid: | All deposit basic P&A with optional loan pools | 0.00% | N/A | 91.33% | 66.65% | No Bid | No Bid | No Bid | No - 6,7,8 |
| Other Bid: | All deposit basic P&A with optional loan pools | 0.00% | N/A | 83.14% | No Bid | No Bid | No Bid | No Bid | No - 6,8 |
| Other Bid: | All deposit basic P&A with optional loan pools | 0.00% | N/A | 91.33% | No Bid | No Bid | No Bid | No Bid | No - 6,7,8 |
| Other Bid: | All deposit basic P&A with optional loan pools | 0.00% | N/A | 70.56% | 64.96% | No Bid | No Bid | No Bid | No - 6 |
| Other Bid: | All deposit basic P&A with optional loan pools | 0.00% | N/A | 77.36% | 64.69% | No Bid | No Bid | No Bid | No - 6,7 |
| Other Bid: | All deposit basic P&A with optional loan pools | 0.00% | N/A | 70.56% | No Bid | No Bid | No Bid | No Bid | No - 6 |
| Other Bid: | All deposit basic P&A with optional loan pools | 0.00% | N/A | 77.36% | No Bid | No Bid | No Bid | No Bid | No - 6,7 |
| Other Bid: | All deposit whole bank | 0.00% | $ (19,900) | N/A | N/A | N/A | N/A | No Bid | Yes |
| Other Bid: | All deposit basic P&A with optional loan pools | 0.00% | N/A | No Bid | No Bid | No Bid | No Bid | No Bid | No - 6,7 |
Conforming Bid Notes:
1- Excludes all government guaranteed loans.
2- Excludes all non-performing loans.
3- Requests to purchase mortgage loans and commitments at 92% of book value from Valley Bank, Moline, IL.
4- Conditioned on being the winning bidder
for Valley Bank, Moline, IL.
5- Excludes subsidiaries and certain other assets and liabilities.
6- Requests to close two branches shortly after the closing date.
7- Excludes FHLB advances and related obligations.
8- Excludes
loans totaling $2.9 million.
Other Bidder Names & Locations:
C1 Bank, Saint Petersburg, FL
Centennial Bank, Conway, AR
Great Southern Bank, Reeds Spring, MO
Landmark Bank N.A., Fort Lauderdale, FL
Stearns Bank, Saint Cloud, MN
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