The Federal Deposit Insurance Corp. has scheduled two more loan auctions, covering more than $65 million in assets.
The FDIC is offering 13 commercial and residential real estate participations, totaling $60.9 million, that originated with Security Real Estate Services of Macon, Ga. That company was part of Security Bank Corp., whose six subsidiary banks were seized in July.
Debt Exchange Inc., an FDIC contractor, is handling the auction. Each of the loan participations will be sold separately. The bid date for each is Jan. 12. Only FDIC-insured banks or their wholly owned subsidiaries may bid on the offering.
The 12 commercial loan participations in the auction cover real estate assets totaling $59.9 million. The collateral is located in Florida and Georgia. The residential participation is a single asset totaling $1 million.
The total pool of assets is composed of 27 percent seasoned performing loans and 73 percent non-performing loans.
The FDIC also is using Debt Exchange to sell assets from the failed Silverton Bank, of Atlanta. Bids are due Jan. 19 for a single commercial lease pool composed of 12 assets valued at $4.8 million.
Regulators shut down Silverton on May 1. The lease pool being auctioned consists of 78 percent seasoned performing assets and 22 percent non-performing assets.
BailoutSleuth will continue tracking these deals as part of our continuing coverage of the upheaval in the financial industry.
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