Peoples First Community Bank, Panama City, FL
Closing Date: December 18, 2009
Hancock Bank, Gulfport, MS
All deposits, modified whole bank with loss share – Asset Discount of $236 million, Deposit Premium 1%
No other bids were received.
- 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 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