New Liberty Bank, Plymouth, MI
Closing Date: May 14, 2010
|Bidder||Asset Discount||Deposit Premium||First Loss Tranche||Type|
|Winning: Bank of Ann Arbor, Ann Arbor, MI||10.4955%||0%||0%||All deposit whole bank with loss share|
|Cover (second place)- First Michigan Bank, Troy, MI||16.55%||0%||0%||All deposit whole bank with loss share|
|Other Bids: None|
- The winning bidder's acquisition of all the deposits was the least costly resolution compared to a liquidation alternative and the other bids. The liquidation alternative was valued using valuation models to estimate the market value of the assets. The bid for loss share was 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