""First Financial Network, Inc."":https://www.ffncorp.com/english (FFN), announced the offering of a $200 million performing and non-performing loan portfolio on behalf of a community bank.[IMAGE] [COLUMN_BREAK]
According to a release, the portfolio consists of commercial real estate and commercial and industrial (C&I) loans as well as agricultural, residential, and consumer loans. Approximately one-third of the loans contained are performing.
Due diligence on the portfolio begins August 19, and bids are due September 17.
In addition, Oklahoma-based FFN announced it has been 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 that portfolio contains current loans; investor due diligence began August 6, with bids due by August 29.
""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,"" said Bliss Morris, founder and CEO of FFN. ""Clearly, it's a good time to sell.""