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Bank Failures

Bid Summary for First Priority Bank, Bradenton, FL

First Priority Bank, Bradenton, FL
Closing date: August 1, 2008

Failed Bank Information for First Priority Bank, Bradenton, FL

Winning Bid:

SunTrust Bank, Atlanta, GA for Clean Purchase and Assumption, Insured Deposits Only - Deposit Premium of 0%, together with LNV Corporation, Plano, TX bid for optional loan pool.

No other conforming bids were received

Notes:

  • The winning bidder's acquisition of the insured 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.
  • For more information on the bid disclosure policy, see Failed Financial Institution Bid Disclosure Policy.

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Last Updated: November 18, 2020