Bid Summary
Texas Community Bank, National Association, The Woodlands, TX
Closing Date: December 13, 2013
| Bidder | Type of Transaction | Deposit Premium/(Discount) % | Asset Premium/(Discount) $(000) | Conforming Bid |
|---|---|---|---|---|
| Winning Bid and Bidder:
Spirit of Texas Bank, SSB, College Station, TX |
All deposit whole bank | 0.40% | $(16,300) | No - 1 |
| Cover Bid:
American First National Bank, Houston, TX |
All deposit whole bank | 0.00% | $(18,888) | Yes |
| Other Bid: | All deposit whole bank | 0.40% | $(24,500) | No - 1 |
| Other Bid: | All deposit whole bank | 0.40% | $(32,925) | No - 1 |
| Other Bid: | Insured deposit whole bank | 0.00% | $(33,719) | No - 2,3 |
| Other Bid: | All deposit whole bank | 0.00% | $(33,719) | No - 2,3 |
| Other Bid: | Insured deposit whole bank | 0.00% | $(34,719) | No - 2,3 |
| Other Bid: | All deposit whole bank | 0.00% | $(34,719) | No - 2,3 |
| Other Bid: | Insured deposit whole bank | 0.00% | $(36,719) | No - 2 |
| Other Bid: | All deposit whole bank | 0.00% | $(36,719) | No - 2 |
Conforming Bid Notes:
1- Intends to vacate failed bank locations within one year of failure and move banking business to other branch locations.
2- Links OREO bid to the bank franchise bid.
3- Contains additional terms and conditions regarding their plans
for the Bank branches, and not servicing loans and loan participations sold by the failed bank.
Other Bidder Names & Locations:
Republic Bank & Trust Company, Louisville, KY
Spirit of Texas Bank, SSB, College Station, TX
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. Loss Share was not offered as an option for this transaction.
- 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.
- 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 and the cover bid.
- There are 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