Bid Summary
Sonoma Valley Bank, Sonoma Valley, CA
Closing Date:August 20, 2010
| 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:
Westamerica Bank, San Rafael, CA |
All deposit Whole Bank P&A | 2.00% | $(43,000) | N/A | N/A | NA | N/A | N/A | NA | No | Yes | No |
| Cover (second place):
Bank of Marin, Novato, CA |
All deposit Whole Bank with Loss Share | 0.50% | 0 | 80% | 80% | N/A | 80% | 80% | N/A | No | No | No |
| Other Bid: | All deposit Whole Bank with Loss Share | 0.00% | $(7,500) | 70% | 80% | N/A | 70% | 80% | N/A | No | No | No |
| Other Bid: | All deposit Whole Bank with Loss Share | 0.00% | $(8,900) | 80% | 80% | N/A | 80% | 80% | N/A | No | Yes | No |
| Other Bid: | All deposit Whole Bank with Loss Share | 1.04% | $(10,100) | 80% | 80% | N/A | 80% | 80% | N/A | Yes | Yes | Yes |
| Other Bid: | All deposit Whole Bank with Loss Share | 2.36% | $(11,200) | 80% | 80% | N/A | 80% | 80% | N/A | No | Yes | Yes |
| Other Bid: | All deposit Whole Bank with Loss Share | 2.36% | $(11,200) | 80% | 80% | N/A | 80% | 80% | N/A | No | Yes | Yes |
| Other Bid: | All deposit Whole Bank with Loss Share | 2.36% | $(11,200) | 80% | 80% | N/A | 80% | 80% | N/A | No | Yes | No |
| Other Bid: | All deposit Whole Bank with Loss Share | 2.00% | $(15,000) | 65% | 65% | N/A | 65% | 65% | N/A | No | Yes | No |
| Other Bid: | All deposit Whole Bank with Loss Share | 0.00% | $(15,000) | 80% | 80% | N/A | 80% | 80% | N/A | No | Yes | Yes |
| Other Bid: | All deposit Whole Bank with Loss Share | 2.00% | $(38,500) | 20% | 20% | N/A | 20% | 20% | N/A | No | Yes | No |
Other Bidder Names & Locations:
Bank of Marin, Novato, CA
Rabobank, N.A., El Centro, CA
Tri Counties Bank, Chico, CA
Umpqua Bank, Roseburg, OR
Westamerica Bank, San Rafael, CA
Notes:
- 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.
- There are more bids than bidders because one or more bidders submitted more than one bid.
- The Other Bidder Names and the Other Bids are in random order. There is no linkage between bidder names and bids, except in the case of the winning bid.
- For more information on the bid disclosure policy, see https://www.fdic.gov/resources/resolutions/bank-failures/failed-bank-list/biddocs.html