Unity Bank | ||||
SBA Nonaccrual Loans - Specific Reserves Loan Valuation | ||||
SCHEDULE (A) SEC COMMENT LETTER | ||||
Loan Name | Delinquent Loan | |||
Account # | XXXXXXXXX | |||
Non Accrual Date | 12/31/10 | |||
Apprasial Date | 9/30/2009 | |||
Last Charge Off Taken | 12/31/2010 | |||
Risk Rating | 8 | |||
Loan Balance | 500,000.00 | |||
SBA Guarantee % | 75 | % | ||
SBA Guarantee Portion | 375,000.00 | |||
Charge Off | 50,000.00 | |||
Unity Loan Balance | 75,000.00 | |||
Value of Commercial Collateral | 400,000.00 | |||
Discount | 25 | % | ||
Discounted Collateral | 300,000.00 | |||
Less selling holding costs 10% | 30,000.00 | |||
First Lien Position | - | |||
Second Lien Position | - | |||
Net Realized Value | 270,000.00 | |||
Value of Residential Collateral | - | |||
Discount | 20 | % | ||
Discounted Collateral | - | |||
Less selling holding costs 8% | - | |||
First Lien Position | - | |||
Second Lien Position | - | |||
Net Realized Value | - | |||
Value of Inventory FF&E | - | |||
Discount | 75 | % | ||
Discounted Collateral | - | |||
Prior Lein | - | |||
Less Auction Costs (25%) | - | |||
Net Realized Value | - | |||
Total Net Realized Value | 270,000.00 | |||
Unitys Net Realized Value (25%) | 67,500.00 | |||
Loan Balance | 75,000.00 | |||
Collateral Net Realized Value | 67,500.00 | |||
Collateral Surplus (Shortfall) | (7,500.00 | ) | ||
Specific Reserve | 7,500.00 | |||
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