Bid Summary
Mountain Heritage Bank, Clayton, GA
Closing Date: June 24, 2011
| 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: First American Bank and Trust Company, Athens, GA | All deposit whole bank with loss share | 0.00% | $(13,810) | 80% | 80% | N/A | 80% | 80% | N/A | No | Yes | N/A |
| Cover: Peoples Bank of East Tennessee, Madisonville, TN | All deposit whole bank with loss share | 0.00% | $(16,286) | 80% | 80% | N/A | 80% | 80% | N/A | No | No | N/A |
| Other Bids: None |
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.
- The cover bid 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