Security Bank of North Fulton, Alpharetta, GA
Closing Date: July 24, 2009
|Bidder||Type of Transaction||Deposit Premium %||Asset Premium/(Discount) $(000)||SF Loss Share Tranche 1||SF Loss Share Tranche 2||SF Loss Share Tranche 3||Commercial Loss Share Tranche 1||Commercial Loss Share Tranche 2||Commercial Loss Share Tranche 3||Value Appreciation Instrument||Conforming Bid||Linked|
|Winning bid and bidder:
State Bank and Trust Co., Pinehurst, GA
|All deposit whole bank with loss share||0.00%||$(17,000)||80%||95%||N/A||80%||95%||N/A||No||Yes||Yes|
|Cover (second place): Hamilton State Bank, Hoschton, GA||All deposit whole bank with loss share||1.00%||$(18,000)||80%||95%||N/A||80%||95%||N/A||No||Yes||No|
|Other bid||P&A with Optional Loan Pool||0.1619%||N/A||N/A||N/A||N/A||N/A||N/A||N/A||No||Yes||No|
Other Bidder Names & Locations:
Georgia Commerce Bank, Atlanta, GA
- 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. If any bids were received that would have been more costly than liquidation they have been excluded from this summary.
- For more information on the bid disclosure policy, see https://www.fdic.gov/resources/resolutions/bank-failures/failed-bank-list/biddocs.html
- Note: Hamilton State Bank's bid was lower in cost but State Bank & Turst selected due to lower overall cost for all linked banks.