Bid Summary
Silicon Valley Bridge Bank, Santa Clara, CA
Closing Date: March 10, 2023
| Bidder | Type of Transaction |
Deposits Passing |
Deposit Premium |
Asset Discount |
Assets Purchased | % Asset Discount on Purchased Assets |
Option 1 - No Loss Share |
Option 2 - Commercial Shared Loss |
Option 3 - Single Family and Commercial Shared Loss |
Purchase Money Note Y/N |
Non-Conforming | Equity Appreciation Offer Y/N |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Winning Bid: First Citizens Bank & Trust Company, Raleigh, NC |
Purchase and Assumption |
All Deposits | 0% | ($16.5B) | $72B | 23% | N/A | $5B/0%/50% | N/A | Y | Y | Y |
| Other Bids: |
||||||||||||
| Other | Purchase and Assumption |
Wine related - $300MM |
0.50% | ($465MM) | $1.17B | 40% | No Shared Loss | N/A | N/A | Y | Y | Y |
| Other | Purchase and Assumption |
All Deposits | 0% | ($19.4B) | $75B | 26% | N/A | $5B/0%/50% | N/A | Y | Y | Y |
| Other | Purchase and Assumption |
All Deposits | 0% | ($22.1B) | $75B | 29% | No Shared Loss | N/A | N/A | Y | Y | N |
| Other | Purchase and Assumption |
All Deposits | 0% | ($19.1B) | $72B | 27% | No Shared Loss | N/A | N/A | Y | Y | N |
| Other | Purchase and Assumption |
All Deposits | N/A | ($4.65B) | $15.8B + 2 Subs | 31% | No Shared Loss | N/A | N/A | N | Y | N |
| Other | Purchase and Assumption |
All Deposits | N/A | ($10.15B) | $52.4B + 2 subs | 19% | No Shared Loss | N/A | N/A | N | Y | N |
| Other | Purchase and Assumption |
All Deposits | 0% | ($5.8B) | $28B | 19% | N/A | $726MM/80% | N/A | N | Y | Y |
| Other | Purchase and Assumption |
All Deposits | 0% | ($4.5B) | $18B | 25% | No Shared Loss | N/A | N/A | N | Y | Y |
| Other | Purchase and Assumption |
$16.8B | 0% | ($9.85B) | $38B book, $28B unfund loans / $10.4B - securities |
25% loans/ 2% securities |
N/A | 10% of par/ 80% | N/A | Y | Y | N |
Additional Bids (Asset Pools)
| Type of Bid (Pools) | Pool 1 BV ($B) = 10.6 |
Pool 2 BV ($B) = 4.0 |
Pool 3 BV ($B) = 1.2 |
Pool 4 BV ($B) = 33.9 |
Pool 5 BV ($B) = 5.3 |
Pool 6 BV ($B) = 4.3 |
Pool 7 BV ($B) = 2.7 |
Pool 8 BV ($B) = 2.6 |
Pool 9 BV ($B) = 2.4 |
Pool 10 BV ($B) = 2.3 |
Pool 11 BV ($B) = 1.7 |
Pool 12 BV ($B) = 0.25 |
Pool 13 BV ($B) = 0.18 |
Pool 14 BV ($B) = 0.03 |
Pool 15 BV ($B) = 0.0098 |
|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Other | Non-Conforming | N/A | N/A | N/A | 85% of BV | N/A | N/A | 85% of BV | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Other | Non-Conforming | N/A | N/A | $0.70 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Other | Non-Conforming | Subject to negotiation |
Subject to negotiation |
Subject to negotiation |
90% of BV | 4.53 | 3.68 | 2.47 | 2.22 | 2.00 | 1.94 | 1.42 | 0.21 | 0.15 | 0.02 | 0.0084 |
| Other | Non-Conforming | N/A | 2.83 | 0.76 | N/A | 3.47 | 2.82 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Other | Non-Conforming | N/A | $10B on Pools 1, 2, and 3 |
$N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Additional Bids (Private Bank)
| Type of Bid (WPB, Segments) |
RR Rev Multiple - No Trust |
Entity Cash Value - No Trust |
RR Rev Multiple - Trust |
Entity Cash Value - Trust |
Deposits Y/N |
Deposit Premium |
Asset Discount ($B) |
Assets Purchased ($B) |
% Asset Discount on Purchased Assets |
Description of Assets Purchased |
Acquiring Institution Size ($B) |
Non-Conforming | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Other | Segments (Wealth w/ Trust) |
N/A | N/A | 2.5 | $126MM | N | N/A | N/A | N/A | N/A | N/A | N/A | Y |
| Other | Segments | N/A | N/A | N/A | N/A | N | N/A | $2.7B/30% | N/A | N/A | N/A | N/A | Y |
| Other | Segments - PB Loans and Deposits |
N/A | N/A | N/A | N/A | Y | 0 | $4.5B/29% | N/A | N/A | N/A | N/A | Y |
| Other | Segments - - Wealth Mgmt Broker Dealer |
N/A | N/A | 0 | $1 | Y | 0 | $4.5B/29% | N/A | N/A | N/A | N/A | Y |
| Other | WPB | N/A | N/A | 0 | 0 | Y | 0 | $4.75/30% | N/A | N/A | N/A | N/A | Y |
| Other | Wealth Mgt, Deposits, and Certain Loans |
N/A | N/A | N/A | $50.5MM | Y | No | $1.61B/10% of $4.5B | N/A | N/A | N/A | N/A | Y |
| Other | Wealth Mgt, and Deposits |
N/A | N/A | N/A | $50.5MM | Y | No | N/A | N/A | N/A | N/A | N/A | Y |
| Other | WPB | N/A | N/A | 3.46 | $175MM | Y | 0 | N/A | N/A | N/A | N/A | N/A | Y |
| Other | WPB | N/A | N/A | 3.46 | $175MM | Y | 0 | $2.1B/13% | N/A | N/A | N/A | N/A | Y |
| Other | WPB | N/A | N/A | 1 | $50.5MM | Y | 0 | $8.2B/52% | N/A | N/A | N/A | N/A | Y |
Other Bidder Names, City, ST:
AG Wine Group (Attollo Capital / Gordian Group), New York, NY
Apollo, New York, NY
BankUnited, N.A., Miami Lakes, FL
Centennial Bank, Conway, AR
The Bank of Nova Scotia, Halifax, Nova Scotia
Bayview Acquisitions, Coral Gables, FL
Blackstone / Liberty Capital, New York, NY
Brex Inc., Salt Lake City, UT
CIBC Bank USA, Chicago, IL
Citizens Bank, N.A., Providence, RI
Creative Planning, Overland Park, KS
Lido Advisors, Los Angeles, CA
Northeast Bank, Portland, ME
PNC Bank, Wimington, DE
Reverence Capital, New York, NY
Safra National Bank of NY, New York, NY
Sixth Street Partners, New York, NY
Stifel Bank & Trust, St. Louis, MO
Valley Bank, Passaic, NJ
Notes:
- This institution was resolved pursuant to the systemic risk exception in 12 U.S.C. 1823(c)(4)(G). This step was taken to ensure that the U.S. banking system continues to perform its vital roles of protecting deposits and providing access to credit to households and businesses in a manner that promoted strong and sustainable economic growth. See https://www.fdic.gov/news/press-releases/2023/pr23017.html.
- There is no linkage between bidder names and bids, except in the case of the winning bid.
- There may be more bids than bidders because one or more bidders submitted more than one bid.
- For more information on the bid disclosure policy, see https://www.fdic.gov/resources/resolutions/bank-failures/failed-bank-list/biddocs.html.