First Financial Network, Inc. Announces $150 Million In Loan Participations.
OKLAHOMA CITY -- First Financial Network, Inc., the nation's leading loan sale advisor, announced today that it will sell $150 million in loan participations. The loans are being marketed on behalf of the Federal Deposit Insurance Corporation (FDIC) and include loan participations from four failed banks currently in FDIC Receivership.
First Financial Network will market and manage all facets of the sale to bid on November 3, 2009. The performing and non-performing loan participations will be sold on an individual basis. The loans are secured primarily by commercial real estate. Due diligence materials are available now to qualified bidders on First Financial Network's Loan Trading Platform at www.firstfinancialnet.com.
Bliss Morris, CEO of First Financial Network, said, "We look forward to marketing these assets on behalf of our long-time client, FDIC. These loans represent an excellent acquisition opportunity for banking institutions. Our end-to-end sale advisory services continue to achieve outstanding results for both public and private financial institutions and we are confident that this offering will garner significant interest from the financial community."
First Financial Network will initiate a highly targeted marketing campaign aimed at obtaining maximum value on the portfolio. The company will utilize its online Loan Trading Platform to provide financial institutions with immediate access to due diligence information and the opportunity to place bids. For additional details regarding the offering, please call 405.748.4100 or visit www.firstfinancialnet.com.
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 provider of loan sale advisory services, 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, major foreign banks and other lenders. The company's online Loan Trading Platform and Metrics, 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 www.firstfinancialnet.com.
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|Date:||Oct 13, 2009|
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