Skip to main content
U.S. flag
An official website of the United States government
Dot gov
The .gov means it’s official. 
Federal government websites often end in .gov or .mil. Before sharing sensitive information, make sure you’re on a federal government site.
Https
The site is secure. 
The https:// ensures that you are connecting to the official website and that any information you provide is encrypted and transmitted securely.
Bank Failures

Bid Summary

First Coweta Bank, Newnan, GA
Closing Date: August 21, 2009

Bidder Type of Transaction Deposit Premium % 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:
United Bank, Zebulon, GA
All deposit whole
bank with loss share
1.01% $ (20,980) 80% 95% N/A 80% 95% N/A No Yes N/A
Cover (second place):
HeritageBank of the South, Albany, GA
All deposit whole
bank with loss share
1.00% $ (28,000) 80% 95% N/A 80% 95% N/A No Yes N/A
Other Bid: All deposit whole
bank with loss share
0.00% $ (34,850) 80% 95% N/A 80% 95% N/A No No N/A

Other Bidder Name & Location:

CharterBank, West Point, GA

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. 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 https://www.fdic.gov/resources/resolutions/bank-failures/failed-bank-list/biddocs.html


Back to top

Last Updated: December 20, 2021