Fort Lee Federal Savings Bank, FSB, Fort Lee, New Jersey
Closing Date: April 20, 2012
|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: Alma Bank, Astoria, NY||All Deposit P&A||1.85%||N/A||N/A||N/A||N/A||N/A||N/A||N/A||No||Yes||N/A|
|Cover - North Jersey Community Bank, Englewood Cliffs, NJ||All Deposit P&A||0.30%||NA||NA||NA||NA||NA||NA||NA||No||Yes||NA|
|Other Bid: None|
- 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