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Loan Sales Announcements

OFFERING ANNOUNCEMENT

$190MM Performing and Non-Performing CRE, C&I and Consumer Loans
 

On behalf of the FDIC, DebtX (www.debtx.com) is pleased to announce the sale of assets related to the Bank of Clark County, Vancouver, WA receivership:

  • A total of 23 pools:
  • 11 CRE pools containing 138 assets totaling $88.2MM
  • 7 C&I pools containing 217 assets totaling $64.1MM
  • 5 Consumer Loan pools containing 165 assets totaling $37.7MM
  • Collateral: Offerings include office, industrial, retail, healthcare, commercial real estate, vehicles, business assets and unsecured pools.
  • Collateral location: Washington
  • Performance level: Performing 94%; Non-Performing 6%

KEY DATES

Due Diligence commences April 15, 2009
Bid Date May 12, 2009

 


OFFERING ANNOUNCEMENT

$79MM Performing and Non-Performing CRE, C&I and Consumer Loans
 

On behalf of the FDIC, DebtX (www.debtx.com) is pleased to announce the sale of assets related to the FirstBank Financial Services, McDonough, GA receivership:

  • A total of 13 pools:
  • 11 CRE pools containing 87 assets totaling $73MM
  • A Performing C&I pool containing 85 assets totaling $5MM
  • A Performing Consumer Loan pool containing 86 assets totaling $1MM
  • Collateral: Offerings include retail, office, industrial, church, commercial real estate, auto/consumer and business assets.
  • Collateral location: Georgia
  • Performance level: Performing 68%; Non-Performing 32%

KEY DATES

Due Diligence commences April 15, 2009
Bid Date May 12, 2009

 


OFFERING ANNOUNCEMENT

$292MM Commercial and Consumer Loan Portfolio - Bidding May 19, 2009
FDIC Offering #FRA-4-09

First Financial Network, Inc. ("FFN") is pleased to provide the opportunity to acquire certain assets offered from time to time. The portfolio consists of 3,757 Commercial and Consumer Loans totaling $292MM from the recently closed Franklin Bank, S.S.B., Houston, Texas for which the FDIC is acting as receiver. The majority of the collateral properties are located in Texas and California and approximately 87% of the portfolio is currently performing.

Portfolio Characteristics:

 

Collateral Type # of Loans Balance
CRE 316 $204,967,651
Mortgage Banker Finance 98 $34,088,835
Consumer Loans 2,948 $29,303,688
Business Loans 290 $18,139,254
Agriculture 105 $5,887,668
     

CRE loans include retail, office, multi-family and land. Consumer Loans consist primarily of vehicle loans.

The loans will be pooled according to performance, collateral type and location. Bidders may perform Due Diligence either onsite at the Due Diligence Site located in Oklahoma City, OK (click here for directions) or via imaged loan documents available online or on encrypted external hard drive. Please note that only a portion of the hard copy loans are available for onsite review. Please click on the Request Due Diligence link to request due diligence access.

KEY DATES  (ALL DATES ARE SUBJECT TO CHANGE)

 

Sale Announcement March 26, 2009
Bid Package April 20, 2009 - May 19, 2009
Investor Due Diligence April 20, 2009 - May 19, 2009
Legal Calculation Date May 05, 2009
Bid Day May 19, 2009
Funding/Closing/Transfer June 04, 2009

OFFERING ANNOUNCEMENT

$10MM Performing CRE, C&I and Consumer Loans
 

On behalf of the FDIC, DebtX (www.debtx.com) is pleased to announce the sale of assets related to the Silver Falls Bank, Silverton, OR receivership:

  • A total of 3 pools:
  • 1 CRE pool containing 25 assets totaling $6.3MM
  • 1 C&I pool containing 21 assets totaling $1.7MM
  • 1 Consumer Loan pool containing 24 assets totaling $2MM
  • Collateral: A wide variety of collateral including farm equipment, automobiles, residential property and commercial real estate.
  • Collateral location: Oregon
  • Performance level: Performing 100%

KEY DATES

Due Diligence commences May 6, 2009
Bid Date June 2, 2009

FDIC markets loans through two loan sales advisors:

First Financial Network DebtX, The Debt Exchange
www.firstfinancialnet.com www.debtx.com
405-748-4100617-531-3400

When FDIC has loans available for sale they will be assigned to one of the two loan sale advisors and the loans will be marketed on their respective websites. The loan sale advisors will provide approved bidders information on the loan pool(s) being offered for sale. Each advisor has the ability to offer both electronic due diligence on their website and hard copy due diligence. Each of their websites has an internet bid platform where bids on FDIC loan sales will be submitted.

If you are interested in participating in a loan sale offering, you are recommended to contact each of the loan sale advisors and request an account on their web site. Each advisor has their own requirements for granting access to their site. You are encouraged to make application so you will receive notice of any FDIC loan sale offering.



Last Updated 05/08/2009 assetmarketing@fdic.gov

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