Nevada Commerce Bank, Las Vegas, NV
Closing Date: April 8, 2011
|Bidder||Type of Transaction||Deposit Premium %||Asset Premium/(Discount) $(000)||SF Loss Share Tranche 1||SF Loss Share Tranche 2||SF Loss Share Tranche 3||Commercial Loss Share Tranche 1||Commercial Loss Share Tranche 2||Commercial Loss Share Tranche 3||Value Appreciation Instrument||Conforming Bid||Linked|
|Winning bid and bidder: City National Bank, Beverly Hills, CA||All deposit whole bank with loss share||0.71%||$(20,455)||80%||80%||N/A||80%||80%||N/A||No||Yes||No|
|Cover (second best): City National Bank, Beverly Hills, CA||All deposit whole bank with loss share||0.71%||$ (44,602)||0%||80%||N/A||0%||80%||N/A||No||Yes||No|
|Other Bids: 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. The bids for loss share were valued using a discounted cash flow analysis for the loss share portfolio over the life of the loss share agreement.
- For more information on the bid disclosure policy, see https://www.fdic.gov/resources/resolutions/bank-failures/failed-bank-list/biddocs.html