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Loan Sales Announcements

OFFERING ANNOUNCEMENT


$26MM Performing/Non-Performing Commercial & Industrial Loans

Offering #IUB-09-33 and #IBT-09-33

On behalf of the FDIC, Eastdil Secured (www.esloansales.com) is pleased to announce the sale of approximately $26MM of Performing and Non-Performing C&I and Consumer Loans. Offering #IUB-09-33 and #IBT-09-33. The portfolio consists of loans that were held by two recently closed banks for which the FDIC is acting as Receiver.

  • Irwin Union Bank & Trust Co. (Columbus, IN)
  • Irwin Union Bank & F.S.B (Louisville, KY)
The portfolio is primarily comprised of commercial industrial loans and consumer loans. Approximately eight of the loans have a balance greater than $1MM, with the remaining loans having an average balance of $165,000. Collateral concentrations are located in the Midwest and Western U.S. The Loans will be pooled based on performing status, and geographic concentrations.

KEY DATES

Bid Package/Due Diligence January 8, 2010 - February 16, 2010
Bid Day February 16, 2010
Fund/Closing/Transfer March 5, 2010

OFFERING ANNOUNCEMENT
 

$2.8MM Performing Home Owners Association Loan Portfolio

Offering #FNV-10-33
 

On behalf of the FDIC, Mission Capital Advisors (www.missioncap.com) is pleased to announce the sale of approximately 13 Home Owners Association Loans and 1 C&I Loan (offering FNV-10-33) related to the closed First National Bank of Nevada, Reno, NV,  for which the FDIC is acting as Receiver:

  • Collateral Type: Home Owners Association Receivables, Business Assets
  • Weighted Average Maturity: 9/13/2016
  • Weighted Average Coupon: 7.32%
  • 99.60% of the Portfolio is secured by Home Owners Association Receivables
  • All Loans are Performing

KEY DATES

Bid Package/Due Diligence January 6, 2010 - February 2, 2010
Bid Day February 2, 2010 - 2:00pm EST
Final Funding/Closing/Transfer February 19, 2010

For additional information please contact the undersigned at (212) 925-6692:

Peter Tobin - Managing Director ptobin@missioncap.com
Michael Britvan - Associate mbritvan@missioncap.com
Jesse Hsu - Associate jhsu@missioncap.com


OFFERING ANNOUNCEMENT


$63MM Seasoned and Non-Performing CRE Loan Participations 

Bidding on this offering is limited to FDIC-insured banks only

On behalf of the FDIC, DebtX (www.debtx.com) is pleased to announce the sale of assets related to the RockBridge Commercial Bank (Atlanta, GA) and Hillcrest Bank Florida (Naples, FL) receiverships:

  • A total of 25 commercial real estate pools containing 26 assets totaling $63MM
  • Collateral: Consists primarily of commercial real estate, multifamily and residential real estate
  • Each of the loans will be offered on an individual basis
  • Collateral location: Arizona, Florida, Georgia and Tennessee
  • Performance level: Seasoned Performing 38%; Non-Performing 62%

KEY DATES

Due Diligence commences January 28, 2010
Bid Date February 23, 2010

OFFERING ANNOUNCEMENT


$119 Million in Performing Credit Card Outstanding Balances and Related Accounts

Offering #SIL-09-036

As the Sale Advisor for the Federal Deposit Insurance Corporation (“"FDIC”), First Annapolis Capital, Inc. (“First Annapolis”) is pleased to provide the opportunity to acquire approximately $119MM in Performing Credit Card Loans and Accounts and over 700 agent bank relationships, Offer Number SIL-09-036, from the recently closed Silverton Bank. This portfolio is comprised of approximately 108,000 accounts on file all processing on the First Data Omaha platform. Accounts were originated through over 700 community agent bank relationships and average over five years time on books. Approximately 53% of the portfolio balance is consumer and approximately 47% is business, including corporate card accounts issued to the agent banks. The combined portfolio generates approximately $53MM in monthly transaction volume (5+ turn rate).

The portfolio average credit bureau score is approximately 736 and approximately 15% of the outstandings are secured by agent bank guarantees. Delinquency and charge-off rates trend well below the industry average.

KEY DATES

Bid Package/Investor Due Diligence To be announced
Bid Day To be announced
FinalFunding/Closing/Transfer To be announced

Please contact the following at First Annapolis with any questions regarding the sale process.

Omid Tofigh, Principal Omid.Tofigh@firstannapolis.com 410-865-8855
Raymond Carter, Principal Raymond.Carter@firstannapolis.com 410-865-8859

FDIC and First Annapolis reserve the right, at their sole discretion, to refuse to allow any bidder to review the Bid Package or to participate in this offering or any future offering(s).


FDIC markets loans through five loan sales advisors:

Loan Sales Advisor Web Address Phone Number
DebtX, The Debt Exchange www.debtx.com 617-531-3400
Eastdil Secured www.esloansales.com 310-526-9300
First Financial Network www.firstfinancialnet.com 405-748-4100
Garnet Capital Advisors www.garnetcapital.com 914-406-7880
Mission Capital Advisors www.missioncap.com 212-925-6692

When FDIC has loans available for sale they will be assigned to one of the five 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 02/04/2010 assetmarketing@fdic.gov

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