Security Bank, N.A., North Lauderdale, Florida
Closing Date: May 4, 2012
|Bidder||Type of Transaction||Deposit Premium/(Discount) %||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:
Banesco USA, Coral Gables, Florida
|All Deposit Whole Bank||0.00%||$17,900||N/A||N/A||N/A||N/A||N/A||N/A||No||No||N/A|
|Other Bid:||All deposit Modified Whole Bank||0.00%||$8,900||N/A||N/A||N/A||N/A||N/A||N/A||No||No||N/A|
|Other Bid:||All deposit Whole Bank with Loss Share||0.00%||$9,500||80%||80%||N/A||80%||80%||N/A||No||No||N/A|
Other Bidder Names & Locations:
Omitted from this disclosure
- 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 bid that: a. Is less costly than liquidation and b. Is the least costly bid after excluding all bids submitted by the winning bidder.
- Because there was only one other bidder, the Other Bidder Name is omitted from this disclosure.
- For more information on the bid disclosure policy, see https://www.fdic.gov/resources/resolutions/bank-failures/failed-bank-list/biddocs.html