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Asset Sales Events

FDIC Loan Sale #MR1-24-23

Last Updated: June 7, 2024

Loan Sale Announcement
$106 Million Residential & CRE Loan Sale

On behalf of the Federal Deposit Insurance Corporation (FDIC) in its capacity as Receiver, First Financial Network (FFN) is pleased to announce a competitive sealed bid cash sale of approximately $71 million in residential loans and $35 million in commercial real estate loans for a total portfolio balance of approximately $106 million.

As of March 22, 2024, the portfolio consists of approximately 272 performing (91%) and non-performing (9%) residential and commercial real estate loans with collateral properties primarily located in the northeast.

The loans will be offered in pools for bidding purposes allowing prospective bidders to submit bids for individual pools, a combination of pools (linked bids) and/or the entire portfolio.

Sale Access

Access to online due diligence for Loan Sale #MR1-24-23 is open to all bidders that meet FDIC's requirements. To review the requirements and submit your vetting information simply follow these directions:

  1. Register or Sign In: Visit First Financial Network’s website at www.ffncorp.com and register or sign in to your account.
  2. Select Loan Sale #MR1-24-23: Once logged in, choose the MR1-24-23 Sale from the available options.

For information regarding this sale, contact FFN's Loan Sales Team at IR@ffncorp.com or at 405-748-4100.

KEY DATES
Bidder Due Diligence Begins April 30, 2024
Calculation Date May 10, 2024
Bid Date May 29, 2024
Final Funding/ Closing June 12, 2024

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This advertisement is an announcement only and does not constitute an offer to sell, or a solicitation of an offer to buy, any loans or any interest therein. Information concerning the loans will be furnished only to persons who demonstrate that they have a level of financial sophistication and resources sufficient to evaluate and bear the risks of an investment in the loans. The loans, assets or portfolios are offered "AS IS" and without any representations or warranties of any kind whatsoever by any entity.