Skip to main content
U.S. flag
An official website of the United States government
Dot gov
The .gov means it’s official. 
Federal government websites often end in .gov or .mil. Before sharing sensitive information, make sure you’re on a federal government site.
Https
The site is secure. 
The https:// ensures that you are connecting to the official website and that any information you provide is encrypted and transmitted securely.
Bank Failures

Bid Summary

Jasper Banking Company, Jasper, GA
Closing Date: July 27, 2012

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: Stearns Bank National Association, St. Cloud, MN All deposit whole bank with loss share 0.00% $(26,900) N/A N/A N/A 80% 80% N/A No Yes No
Cover: Community & Southern Bank, Atlanta, GA All deposit whole bank with loss share 0.50% $(32,400) N/A N/A N/A 80% 80% N/A No Yes No
Other bid All deposit whole bank with loss share 0.00% $(20,942) N/A N/A N/A 80% 80% N/A No No - 1 Yes
Other bid All deposit whole bank with loss share 0.00% $(27,900) N/A N/A N/A 80% 80% N/A No Yes Yes
Other bid All deposit whole bank with loss share 0.00% $(29,056) N/A N/A N/A 80% 80% N/A No Yes Yes
Other bid All deposit whole bank with loss share 0.50% $(29,300) N/A N/A N/A 80% 80% N/A No Yes Yes
Other bid All deposit whole bank with loss share 0.50% $(30,400) N/A N/A N/A 80% 80% N/A No Yes Yes
Other bid All deposit whole bank with loss share 0.00% $(39,400) N/A N/A N/A 80% 80% N/A No Yes Yes
Other bid All deposit whole bank with loss share 0.00% $(46,700) N/A N/A N/A 80% 80% N/A No Yes No
Other bid All deposit whole bank 0.00% $(91,003) N/A N/A N/A N/A N/A N/A No No - 2 No

Conforming Bid Notes:

1- Excludes single family loans and single family OREO.
2- Excludes subsidiaries, unidentified affiliate loans, and unfunded commitments.

Other Bidder Names:

Ameris Bank, Moultire, GA
Bank of the Ozarks, Little Rock, AR
Community & Southern Bank, Atlanta, GA
Republic Bank & Trust Company, Louisville, KY
Stearns Bank National Association, St. Cloud, MN

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.
  • 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.
  • 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 and the cover bid.
  • For more information on the bid disclosure policy, see https://www.fdic.gov/resources/resolutions/bank-failures/failed-bank-list/biddocs.html

Back to top

Last Updated: December 16, 2021