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[STK]
[IN] FIN
[SU] ACC ECO
-- WITH PHOTO -- TO BUSINESS EDITORS:
First Financial Network, Inc. Announces $174MM Loan Portfolio Offering
on Behalf of FDIC
OKLAHOMA CITY, April 9, 2014 /PRNewswire/ -- First Financial Network,
Inc. (FFN) announced the offering of a $174 million performing and
non-performing loan portfolio. The portfolio is being marketed on
behalf of the Federal Deposit Insurance Corporation (FDIC) and
includes loans from the recently failed The Bank of Union, El Reno,
Oklahoma for which the FDIC is acting as Receiver.
Photo - http://photos.prnewswire.com/prnh/20140409/PH01370LOGO
The portfolio consists of approximately 511 C&I, agricultural,
residential, commercial real estate and consumer loans. Online due
diligence is currently available to qualified bidders with bids due on
May 6th at www.ffncorp.com. The loans have been stratified into pools
based on collateral type and performance.
Bliss Morris, Founder and CEO of FFN, said, "Over the past three
quarters there has been a steady increase in pricing across all asset
classes. We look forward to marketing these assets on behalf of FDIC
and are confident that this offering will garner significant secondary
market interest."
For additional details regarding the offering, please call
405.748.4100 or visit www.ffncorp.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. In addition to loan sales, the
company provides data normalization, loan file imaging and indexing,
loan valuation, compliance reviews and due diligence services to
banks, agencies of the Federal government, foreign banks and other
lenders. The company's online Loan Sale NetworkT platform and Metrics,
an integrated due diligence analytics 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.ffncorp.com.
Read more news from First Financial Network.
Contact: Merrie Duncan - 800-245-8695 - Email
SOURCE First Financial Network
-0- 04/09/2014
/Photo: http://photos.prnewswire.com/prnh/20140409/PH01370LOGO
PRN Photo Desk, photodesk@prnewswire.com
/Web Site: http://www.ffncorp.com
CO: First Financial Network
IN: FIN
SU: ACC ECO
PRN
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0000 04/09/2014 12:30:00 EDT http://www.prnewswire.com
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