Bid Summary
The Woodbury Banking Company, Woodbury, GA
Closing Date: August 19, 2016
| Bidder | Type of Transaction | Deposit Premium % | Asset Premium/ (Discount) $(000) | Optional Loan Pool (Performing) (% of BV) | Optional Loan Pool (Non-Performing) (% of BV) | Optional OREO Pool (% of BV) | Conforming Bid |
|---|---|---|---|---|---|---|---|
| Winning Bid: United Bank, Zebulon, GA |
All deposit Whole Bank | 0.00% | ($974) | N/A | N/A | No Bid | Yes |
| Cover Bid: First Peoples Bank |
All deposit Whole Bank | 0.00% | ($2,475) | N/A | N/A | No Bid | Yes |
| Other Bids | |||||||
| Other | All deposit Whole Bank | 0.00% | ($974) | N/A | N/A | 35.16% | Yes |
| Other | All deposit Whole Bank | 0.00% | ($2,275) | N/A | N/A | No Bid | Yes |
| Other | All deposit Whole Bank | 0.00% | ($2,525) | N/A | N/A | No Bid | No - 1 |
| Other | All deposit Whole Bank | 0.00% | ($2,825) | N/A | N/A | No Bid | Yes |
| Other | All deposit Whole Bank | 0.00% | ($2,825) | N/A | N/A | 24.20% | Yes |
| Other | All deposit Whole Bank | 0.25% | ($5,187) | N/A | N/A | 25.00% | Yes |
| Other | All deposit Whole Bank | 0.25% | ($5,187) | N/A | N/A | No Bid | Yes |
Conforming Bid Note:
1- Requests to purchase the branch at $230,000, which is below the fixed price offered.
Other Bidder Names & Locations:
Calumet Bank, Lagrange, GA
First Peoples Bank, Pine Mountain, GA
Southern States Bank, Anniston, AL
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.
- The cover 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 bid.
- 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/resources/resolutions/bank-failures/failed-bank-list/biddocs.html