Bid Summary
Towne Bank of Arizona, Mesa, AZ
Closing Date: May 7, 2010
Winning Bidder:
Commerce Bank of Arizona, Tucson, AZ
Winning Bid:
All deposits, whole bank with loss share - Asset Discount of 18.40%; Deposit Premium of 0.30%.
No other bids were received.
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. The bid for loss share was valued using a discounted cash flow analysis for the loss share portfolio over the life of the loss share agreement.
- For more information on the bid disclosure policy, see https://www.fdic.gov/resources/resolutions/bank-failures/failed-bank-list/biddocs.html