The Royal Palm Bank of Florida, Naples, FL
Closing Date: July 20, 2012
Failed Bank Information for The Royal Palm Bank of Florida, Naples, FL
| Bidder | Type of Transaction | Deposit Premium % | Asset Premium/(Discount) $(000) | SF 1-4 Loss Share Tranche 1 | SF 1-4 Loss Share Tranche 2 | SF 1-4 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: First National Bank of the Gulf Coast, Naples, FL | All deposit whole bank | 0.00% | $ (19,250) | N/A | N/A | N/A | N/A | N/A | N/A | No | No - 1 | No |
| Cover: Centennial Bank, Conway, AR | All deposit whole bank with loss share | 0.00% | $(13,750) | N/A | N/A | N/A | 80% | 80% | N/A | No | Yes | No |
| Other Bid: | All deposit whole bank with loss share | 0.00% | $ (10,721) | N/A | N/A | N/A | 80% | 80% | N/A | No | No - 1 | No |
| Other Bid: | All deposit modified whole bank | 0.00% | $(19,800) | N/A | N/A | N/A | N/A | N/A | N/A | No | No - 2 | No |
| Other Bid: | Insured deposit whole bank | 0.50% | $(25,664) | N/A | N/A | N/A | N/A | N/A | N/A | No | Yes | No |
| Other Bid: | All deposit whole bank with loss share | 0.00% | $(27,000) | N/A | N/A | N/A | 80% | 80% | N/A | No | Yes | No |
Conforming Bid Notes:
1- Requests to negotiate a twelve month lease option for the Fort Myers branch.
2- Excludes OREO loans, non-accrual loans, and loans 90 days plus past due.
Other Bidder Names & Locations:
Centennial Bank, Conway, AR
First National Bank of the Gulf Coast, Naples, FL
Homebanc Natonal Associaiton, Lake Mary, FL
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 are more bids than bidders because one or more bidders submitted more than one bid.
- 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.
- For more information on the bid disclosure policy, see Failed Financial Institution Bid Disclosure Policy.