Doral Bank, San Juan, PR
Closing Date: 02/27/2015
| Optional Pools | ||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Name / State | Type of Transaction | Deposit Premium % | Asset Ppremium/(Discount) $(000) | Perf SFR (% of BV) | Perf SFR (% of BV) | Perf SFR-Modified (% of BV) | Non-Perf SFR (% of BV) | Perf CRE &C&I (% of BV) | Perf & Non-Perf Res (% of BV) | Gvt Guaranteed Loans (% of BV) | Perf & Non Perf CRE (% of BV) | SFR (% of BV) | ADC & Land (% of BV) | CRE (% of BV) | CRE Other (% of BV ) | C&I (% of BV) | OREO Pool (% of BV) | Conforming Bid |
| Winning Bids & Bidder's Location Combination: | ||||||||||||||||||
| 1) Banco Popular, Hato Rey, PR | All deposit Basic P&A with Optional loan pools | 1.59% | N/A | 98.50% | 91.00% | N/A | N/A | 84.75% | N/A | 85.60% | N/A | 100.97% | 102.95% | 98.85% | 99.19% | 93.46% | N/A | Y |
| 2) TPG Opportunity Partners, III A LP, Forth Worth,TX | Asset Pool | N/A | N/A | N/A | N/A | 57.61% | 35.02% | N/A | 39.93% | N/A | 23.01% | N/A | N/A | N/A | N/A | N/A | N/A | Y |
| Cover: None | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Other: | All deposit Basic P&A with Optional loan pools | 1.59% | N/A | 98.50% | 91.00% | N/A | N/A | 84.75% | N/A | 85.60% | N/A | 100.97% | 102.95% | 98.85% | 99.19% | 93.46% | N/A | Y |
| Other: | All Deposit Whole Bank | 1.59% | ($870,605) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | Y |
| Other: | All Deposit Whole Bank | 1.59% | ($870,605) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N - 1 |
| Other: | All deposit Basic P&A with Optional loan pools | 0.00% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 99.73% | 99.73% | 99.73% | 99.73% | 99.73% | N/A | N - 2 |
| Other: | All deposit Basic P&A with Optional loan pools | 0.00% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 99.73% | 99.73% | 99.73% | 99.73% | 99.73% | N/A | N - 2 |
| Other: | All deposit Basic P&A with Optional loan pools | 0.98% | N/A | 25.86% | 25.86% | 10.00% | N/A | 25.86% | N/A | N/A | N/A | 99.00% | 99.00% | 99.00% | 99.00% | 99.00% | N/A | Y |
| Other: | All deposit Basic P&A with Optional loan pools | 0.98% | N/A | 25.86% | 25.86% | 10.00% | N/A | 25.86% | N/A | N/A | N/A | 99.00% | 99.00% | 99.00% | 99.00% | 99.00% | N/A | N - 3 |
| Other: | All deposit Basic P&A with Optional loan pools | 0.98% | N/A | 23.20% | 23.20% | N/A | N/A | 23.20% | N/A | N/A | N/A | 99.00% | 99.00% | 99.00% | 99.00% | 99.00% | N/A | Y |
| Other: | All deposit Basic P&A with Optional loan pools | 0.98% | N/A | 23.20% | 23.20% | N/A | N/A | 23.20% | N/A | N/A | N/A | 99.00% | 99.00% | 99.00% | 99.00% | 99.00% | N/A | N - 3 |
| Other: | All deposit Basic P&A with Optional loan pools | 1.07% | N/A | 25.86% | 25.86% | 10.00% | N/A | 25.86% | N/A | N/A | N/A | 40.37% | 74.94% | 88.29% | 57.52% | 67.98% | N/A | Y |
| Other: | All deposit Basic P&A with Optional loan pools | 1.07% | N/A | 23.20% | 23.20% | N/A | N/A | 23.20% | N/A | N/A | N/A | 40.37% | 74.94% | 88.29% | 57.52% | 67.98% | N/A | Y |
| Other: | Asset Pool | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 23.01% | N/A | N/A | N/A | N/A | N/A | N/A | Y |
| Other: | Asset Pool | N/A | N/A | N/A | N/A | 57.61% | 35.02% | N/A | 39.93% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | Y |
| Other: | OREO | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 10.00% | Y |
| Other: | Asset Pool | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 13.00% | N/A | N/A | N/A | N/A | N/A | N/A | N - 4 |
Whole Bank P&A bids have one discount amount. The OREO is bid separately.
Basic P&A with optional loan pool bids include separate pool pricing for each selected pool.
Bids less than the optional OREO pool reserve price were not factored
into the total bid cost.
Conforming Bid Notes:
1- Excludes an accounts receivable asset with a book value of $16.4 million.
2- Includes U.S. mainland operations and related deposits and excludes Puerto Rico operations and related deposits, resulting in a partial payout of insured deposits.
3- Bid for Doral Money subsidiary linked to bid for deposits and loan pools.
4- Reserves right during post-close due diligence period to terminate Loan Sale Agreement and receive refund of earnest money deposit if final review does not
confirm its original legal and title due diligence.
Other Bidder Names & Locations:
AM PR LLC, New York, NY
Banco Popular, Hato Rey, PR
Centennial Bank, Conway, AR
LSREF3 Island Holdings, LTD, Hamilton Bermuda
Oriental Bank, San Juan, PR
TPG Opportunity Partners III A LP, Dallas, TX
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.
- 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 https://www.fdic.gov/resources/resolutions/bank-failures/failed-bank-list/biddocs.html