Bank of Florida – Southwest, Naples, FL
Closing Date: May 28, 2010
Failed Bank Information for Bank of Florida - Southwest, Naples, FL
All bids were All Deposit, Whole Bank with Loss Share:
| Bidder | Asset Discount % | Deposit Premium % | First Loss Tranche | Value Appreciation Instrument | Linked or Unlinked |
|---|---|---|---|---|---|
| Winning: EverBank, Jacksonville, FL | 19.30% | 0% | 34.35% | No | Linked |
| Cover (second place): EverBank, Jacksonville, FL | 21.20% | 0% | 39.45% | No | Linked |
| Other Bid: | 1.50% | 0% | 0% | No | Linked |
| Other Bid: | 1.91% | 0.61% | 0% | No | Linked |
| Other Bid: | 2.98% | 0% | 0% | Yes | Linked |
| Other Bid: | 3.39% | 0.61% | 0% | Yes | Linked |
| Other Bid: | 6.00% | 0% | 0% | No | Linked |
| Other Bid: | 7.96% | 0% | 0% | No | Linked |
| Other Bid: | 10.93% | 0.50% | 0% | No | Linked |
| Other Bid: | 11.25% | 0.50% | 0% | Yes | Linked |
| Other Bid: | 17.24% | 0% | 0% | No | Linked |
| Other Bid: | 17.40% | 0% | 21.72% | No | Linked |
| Other Bid: | 17.60% | 0% | 24.78% | No | Linked |
| Other Bid: | 17.90% | 0% | 27.85% | No | Linked |
| Other Bid: | 18.70% | 0% | 31.10% | No | Linked |
| Other Bid: | 23.50% | 0% | 44.74% | No | Linked |
Other Bidder Names & Locations:
American Momentum Bank, Tampa, FL
Centennial Bank, Conway, AR
EverBank, Jacksonville, FL
IberiaBank, Lafayette, LA
North American Financial Holding, Charlotte, NC
Notes:
- The winning bidder’s acquisition of all the deposits was the least costly resolution compared to a liquidation alternative and the other bids. The liquidation alternative was valued using valuation models to estimate the market value of the assets. The bids for loss share were valued using a discounted cash flow analysis for the loss share portfolio over the life of the loss share agreement.
- 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 Failed Financial Institution Bid Disclosure Policy.