1st Commerce Bank, North Las Vegas, NV
Closing Date: June 6, 2013
Failed Bank Information for 1st Commerce Bank, North Las Vegas, NV
| 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: Plaza Bank, Irvine, CA | All deposit whole bank with loss share | 0.00% | $(2,076) | N/A | N/A | N/A | 80% | 80% | N/A | No | No - 1 | N/A |
| Cover Bid: None | 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 Bid: | All deposit whole bank with loss share | 0.00% | $(2,224) | N/A | N/A | N/A | 80% | 80% | N/A | No | No - 2 | N/A |
| Other Bid: | All deposit whole bank | 0.00% | $(5,349) | N/A | N/A | N/A | N/A | N/A | N/A | No | No - 3 | N/A |
| Other Bid: | All deposit whole bank | 0.00% | $(6,170) | N/A | N/A | N/A | N/A | N/A | N/A | No | Yes | N/A |
Conforming Bid Notes:
1- Requests personal computers be an optional purchase, permission to close bank facility after data is transferred to acquirer's Las Vegas branch, and remove true-up provision.
2- Requests personal computers be an optional purchase and permission to close bank facility after data is transferred to acquirer's Las Vegas branch.
3- Requests the bid only be considered if Bank is winning bidder for both 1st Commerce Bank and Central Arizona Bank which are being marketed at the same time but not offered on a linked basis.
Other Bidder Names:
- Cache Valley Bank, Logan, UT
- Plaza Bank, Irvine, CA
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.
- 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.
- 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 Failed Financial Institution Bid Disclosure Policy.