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Loan Sales Announcements

OFFERING ANNOUNCEMENT

$30.6MM Seasoned Performing and Non-Performing Agriculture, C&I, Consumer Loans and Residential Loans

Bidding on this offering is restricted to surrounding states of NE only
 

On behalf of the FDIC, DebtX (www.debtx.com) is pleased to announce the sale of assets related to the Sherman County Bank, Loup City, NE receivership:

  • A total of 10 pools:
  • 7 Agriculture Loan pools containing 168 assets totaling $22.7MM
  • 1 C&I pool containing 64 assets totaling $5.3MM
  • 1 Consumer Loan pool containing 100 assets totaling $8M
  • 1 Residential Loan pool containing 48 assets totaling $1.8MM
  • Collateral: Offerings include farm loans on equipment, livestock and business lines of credit, Real Estate loans secured by residences and farmland and Commercial loans including vehicles, inventory and operating lines of credit.
  • Collateral location: Nebraska
  • Performance level: Seasoned Performing 69%; Non-Performing 31%

KEY DATES

Due Diligence commences May 20, 2009
Bid Date June 30, 2009

OFFERING ANNOUNCEMENT

$5.5MM Seasoned Performing and Non-Performing 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 FirstCity Bank, Stockbridge, GA receivership:

  • A total of 3 pools:
  • 2 C&I pools containing 40 assets totaling $5.1MM
  • 1 Consumer Loan pool containing 50 assets totaling $4M
  • Collateral: Offerings include small balance business asset pools and a performing vehicle loan pool.
  • Collateral location: Georgia
  • Performance level: Seasoned Performing 94%; Non-Performing 6%

KEY DATES

Due Diligence commences June 3, 2009
Bid Date June 30, 2009

OFFERING ANNOUNCEMENT

$7MM Seasoned Performing 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 Riverside Bank of the Gulf Coast, Cape Coral, FL receivership:

  • A total of 4 pools:
  • 1 C&I pool containing 18 assets totaling $4M
  • 3 Consumer Loan pools containing 272 assets totaling $6.6MM
  • Collateral: Offerings include business and consumer loans, vehicle loans and loans secured by mobile homes.
  • Collateral location: Florida
  • Performance level: Seasoned Performing 100%

KEY DATES

Due Diligence commences June 17, 2009
Bid Date July 14, 2009

OFFERING ANNOUNCEMENT

$119MM Seasoned Performing and Non-Performing Equipment and Rolling Stock Leases and Loans
 

On behalf of the FDIC, DebtX (www.debtx.com) is pleased to announce the sale of assets related to the Omni National Bank, Atlanta, GA receivership:

  • A total of 24 pools:
  • 24 C&I pools containing 780 assets totaling $119M
  • Collateral: Offerings include commercial vehicles, autos, equipment, construction equipment, business assets, land and airplanes. In most cases the assets have been pooled regionally.
  • Collateral location: California, Colorado, Connecticut, Florida, Georgia, Illinois, Iowa, Massachusetts, Minnesota, New York, North Carolina, Ohio, Pennsylvania, Utah and Washington
  • Performance level: Seasoned Performing 85%; Non-Performing 15%

KEY DATES

Due Diligence commences June 25, 2009
Bid Date July 21, 2009

OFFERING ANNOUNCEMENT

$66.7MM Seasoned Performing and Non-Performing Agriculture, C&I and Consumer Loans
 

Bidding on this offering is restricted to surrounding states of IL only
 

On behalf of the FDIC, DebtX (www.debtx.com) is pleased to announce the sale of assets related to the Corn Belt Bank and Trust Company, Pittsfield, IL receivership:

  • A total of 17 pools:
  • 11 Agriculture Loan pools containing 154 assets totaling $48.5MM
  • 5 C&I pools containing 31 assets totaling $14.4MM
  • 1 Consumer Loan pool containing 40 assets totaling $3.8MM
  • Collateral: Offerings include farm loans on equipment, livestock and business lines of credit and commercial loans including vehicles, inventory and operating lines of credit.
  • Collateral location: Illinois and Missouri
  • Performance level: Seasoned Performing 63%; Non-Performing 37%

KEY DATES

Due Diligence commences June 10, 2009
Bid Date July 21, 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 06/30/2009 assetmarketing@fdic.gov

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