Bid Summary
First Priority Bank, Bradenton, FL
Closing date: August 1, 2008
Winning Bid:
SunTrust Bank, Atlanta, GA for Clean Purchase and Assumption, Insured Deposits Only - Deposit Premium of 0%, together with LNV Corporation, Plano, TX bid for optional loan pool.
No other conforming bids were received
Notes:
- The winning bidder's acquisition of the insured 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.
- For more information on the bid disclosure policy, see https://www.fdic.gov/resources/resolutions/bank-failures/failed-bank-list/biddocs.html