Published:
First Financial Network, Inc. Announces $23 Million SBA Loan Portfolio Offering
OKLAHOMA CITY, Aug. 28 /PRNewswire/ -- First Financial Network, Inc., the
nation's leading loan sale advisor, announced the offering of a $23 million
loan portfolio today. The portfolio is being marketed on behalf of the Federal
Deposit Insurance Corporation (FDIC) and is comprised of SBA related loans
from the recently failed ANB Bank,Bentonville, AR for which the FDIC is
acting as Receiver.
First Financial Network will market and manage all facets of the sale of
performing and non-performing loans collateralized by properties located
predominantly inArkansas. The portfolio is comprised of 70 commercial real
estate and C & I loans which have been stratified into pools by the SBA based
on performance and SBA guaranty status. Bid Packages will be made available
this week to qualified investors on First Financial Network's website.
Founded in 1989, First Financial Network is the most experienced loan sale
advisor having assisted governmental agencies and financial institutions in
the disposition of billions in loans. This experience bodes well as financial
institutions seek to mitigate risk and preserve capital as the economy cycles
again into uncertain times.
First Financial Network will initiate a highly targeted marketing campaign
aimed at procuring sophisticated purchasers in order to obtain maximum value
on the portfolio. The company will utilize its online Loan Trading
Platform(TM) to image loan documentation and provide qualified investors with
immediate access to due diligence information and the opportunity to place
bids. Investor due diligence begins this week and bids will be taken
September 23, 2008. For additional details regarding the offering, please call
405.748.4100.
About First Financial Network:
Since its founding in 1989, FFN has defined the loan sale industry,
selling billions of dollars in loans and other assets in 28 countries. The
nation's leading loan sale advisor, FFN currently serves more top 25 banking
institutions than any other firm in the nation. In addition, the company
serves as loan sale advisor for agencies of the Federal government, commercial
banks, major foreign banks and other lenders. The company's online Loan
Trading Platform(TM) and Metrics(TM), an integrated transaction management
system, are used in conjunction with exceptional marketing techniques to
achieve optimal value in today's secondary market. For further information,
call 405.748.4100 or visit http://www.firstfinancialnet.com
Contact: Merrie Duncan
First Financial Network, Inc.
Ph: 800.245.8695
mduncan@firstfinancialnet.com
SOURCE First Financial Network, Inc.
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