Loan Sale Announcement
$200 Million Commercial (Cash Secured) and Commercial Real Estate Loan Sale
FRB-25-23 FDIC Loan Sale Announcement
Key Dates | |
|---|---|
| Bidder Due Diligence Begins | 01/13/2025 |
| Calculation Date | 01/17/2025 |
| Bid Date | 02/04/2025 |
| Final Funding/Closing | 02/21/2025 |
| Servicing Transfer | 02/21/2025 |
On behalf of the Federal Deposit Insurance Corporation, as Receiver for First Republic Bank, San Francisco, California (FDIC), First Financial Network (FFN) is pleased to announce a competitive sealed bid cash loan sale composed of 15 commercial loans secured by cash deposits of approximately $188 Million and 1 commercial loan secured by real estate. As of November 30, 2024, the 16 loans were performing with a combined unpaid principal balance of approximately $198.8 Million.
The loans may be offered in pools, for bidding purposes, allowing prospective bidders to submit bids for individual pools, a combination of pools, and/or the entire portfolio.
Sale Access
Access to online due diligence materials for Loan Sale #FRB-25-23 is open to all bidders that satisfy FDIC's vetting requirements. To review the requirements, and submit your vetting information, follow these directions:
1) Register or Sign In: Visit First Financial Network’s website at ffncorp.com and register or sign in to your account.
2) Select Loan Sale #FRB-25-23: Once logged in, choose the FRB-25-23 Sale from the available options.
For information regarding this sale, contact FFN's Loan Sale Team at IR@ffncorp.com or at 405-748-4100.