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Bank Failures

Bid Summary for First National Bank of Crestview, Crestview, FL

First National Bank of Crestview, Crestview, FL
Closing Date: January 16, 2015

Failed Bank Information for First National Bank of Crestview, Crestview, FL

BidderType of TransactionDeposit Premium %Asset Premium/(Discount) $(000)Optional OREO Pool (% of BV)Conforming Bid
Winning bid and bidder: First NBC Bank, New Orleans, LAAll deposit Whole Bank P&A0.00%$64451.32%Y
Cover Bid: United Fidelity Bank, FSB, Evansville, INAll deposit Whole Bank P&A0.00%$(50)No BidY
Other Bid:  All Deposit Whole Bank P&A0.00%$(2,650)N/AY
Other Bid:  All Deposit Whole Bank P&A0.00%$(3,590)42.80%Y
Other Bid:  All Deposit Whole Bank P&A0.00%$(980)No BidY
Other Bid:  All Deposit Whole Bank P&A0.00%$(8,102)24.82%Y
Other Bid:  All Deposit Whole Bank P&A1.00%$(833)51.32%Y
Other Bid:  All Deposit Whole Bank P&A1.00%$(833)No BidY
Other Bid:  All Deposit Whole Bank P&A0.00%$(4,370)No BidY
Other Bid:  All Deposit Whole Bank P&A0.00%$(2,189)No BidN -1
Other Bid:  All Deposit Whole Bank P&A0.00%$(896)No BidN - 2
Other Bid:  All Deposit Whole Bank P&A0.00%$(1,782)No BidN - 3
Other Bid:  All Deposit Whole Bank P&A0.00%$(5,940)No BidY
Other Bid:  All Deposit Whole Bank P&A0.00%$(3,759)No BidN - 1
Other Bid:  All Deposit Whole Bank P&A0.00%$(2,466)No BidN - 2
Other Bid:  All Deposit Whole Bank P&A0.00%$(3,352)No BidN - 3
Other Bid:  All Deposit Whole Bank P&A1.50%$(8,872)No BidY
Other Bid:  All Deposit Whole Bank P&A1.50%$(8,872)38.52%Y

Conforming Bid Notes:

1- Excludes loans totaling $2.2 million.
2- Excludes loans totaling $5.6 million.
3- Excludes loans totaling $4.1 million. 
 

Other Bidder Names & Locations:

Centennial Bank, Conway, AR
First Atlantic Bank, Jacksonville, FL
First Florida Bank, Destin, FL
First NBC Bank, New Orleans, LA 
United Fidelity Bank, Evansville, IN

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 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.

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Last Updated: August 3, 2021