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Bank Failures

Bid Summary for Hillcrest Bank Florida, Naples, FL

Hillcrest Bank, Naples, FL
Closing Date: October 23, 2009

Failed Bank Information for Hillcrest Bank Florida, Naples, FL

BidderType of TransactionDeposit Premium %Asset Premium/(Discount) $(000)SF Loss Share Tranche 1SF Loss Share Tranche 2SF Loss Share Tranche 3Commercial Loss Share Tranche 1Commercial Loss Share Tranche 2Commercial Loss Share Tranche 3Value Appreciation InstrumentConforming BidLinked
Winning bid and bidder: Stonegate Bank, Fort Lauderdale, FLAll deposit with optional loan pools0.50%$(113)*N/AN/AN/AN/AN/AN/ANoYesYes
Other Bids: None            

* Premium paid on estimated value of two loan pools purchased.

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.If any bid were received that would have been more costly than liquidation they have been excluded from this summary.
  • For more information on the bid disclosure policy, see Failed Financial Institution Bid Disclosure Policy.

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Last Updated: April 15, 2022