BankMeridian, N.A., Columbia, SC
Closing Date: July 29, 2011
|Bidder||Type of Transaction||Deposit Premium/(Discount) %||Asset Premium/(Discount) $(000)||SF Loss Share Tranche 1||SF Loss Share Tranche 2||SF Loss Share Tranche 3||Commercial Loss Share Tranche 1||Commercial Loss Share Tranche 2||Commercial Loss Share Tranche 3||Value Appreciation Instrument||Conforming Bid||Linked|
|Winning bid and bidder:
SCBT, N.A., Orangeburg, SC
|All deposit whole bank with loss share||0.00%||$(30,800)||80%||80%||0%||80%||80%||0%||No||Yes||N/A|
|Cover: Bank of North Carolina, High Point, NC||All deposit modified whole bank with loss share||0.50%||$(33,950)||80%||80%||0%||80%||80%||0%||No||Yes||N/A|
|Other Bid||All deposit whole bank with loss share||0.00%||$(43,890)||80%||80%||0%||80%||80%||0%||No||Yes||N/A|
Other Bidder Names:
Bank of the Ozarks, Little Rock, AR
- 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.
- For more information on the bid disclosure policy, see https://www.fdic.gov/resources/resolutions/bank-failures/failed-bank-list/biddocs.html