First Financial Network, Inc. (FFN) announced today the offering of a $200 million performing and no-performing loan portfolio on behalf of a community bank.
The portfolio consists of commercial real estate, C&I, agricultural, residential and consumer loans.
Approximately one-third of the loans in the portfolio are performing and the remainder is non-performing.
In addition to the $200 million assignment, FFN was also appointed by a money bank center to market $35 million in performing and non-performing loans concentrated in California, New York and New Jersey.
A major portion of the portfolio contains current loans and may be of particular interest to banking institutions.
FFN will market and manage all facets of both the sales and will initiate a targeted marketing campaign aimed at procuring purchasers in order to obtain maximum value on the portfolios.
The company will utilize its Loan Sale Network™ platform to provide qualified investors with immediate access to due diligence information and the opportunity to place bids.
Bliss Morris, founder and CEO of FFN, said, “Over the past two quarters, there has been a sharp increase in pricing across all asset classes coupled with a need for community banks to clean up their balance sheets.
“We have been very busy serving this client segment in the valuation and marketing of both performing and non-performing loans. Clearly, it’s a good time to sell.”