Nexity Bank, Birmingham, AL
Closing Date: April 15, 2011
| 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: AloStar Bank of Commerce Birmingham, AL |
All deposit whole bank with loss share | 0.00% | $(102,000) | 80% | 80% | 80% | 80% | 80% | 80% | No | No | N/A |
| Cover (second place): AloStar Bank of Commerce, Birmingham, AL | All deposit whole bank with loss share | 0.00% | $(110,000) | 80% | 50% | 80% | 80% | 50% | 80% | No | No | N/A |
| Other bid | All deposit whole bank with loss share | 0.00% | $(107,000) | 80% | 80% | 80% | 80% | 80% | 80% | Yes | No | N/A |
| Other bid | All deposit whole bank with loss share | 0.00% | $(115,000) | 80% | 50% | 80% | 80% | 50% | 80% | Yes | No | N/A |
| Other bid | All deposit whole bank with loss share | 0.00% | $(121,000) | 80% | 0% | 80% | 80% | 0% | 80% | No | Yes | N/A |
| Other bid | All deposit whole bank with loss share | 0.00% | $(126,000) | 80% | 0% | 80% | 80% | 0% | 80% | Yes | Yes | N/A |
Other Bidder Names:
Omitted from this disclosure
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.
- Because the four "Other bids" were submitted by one bidder, the other bidder name is omitted from this disclosure.
- 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