Exhibit 20.2
MONTHLY HOLDERS' STATEMENT
First National Bank of Commerce
New Orleans, Louisiana
First NBC Credit Card Master Trust
Series 1997-1
February 9,1998
Under the Pooling and Servicing Agreement (the "Pooling and Servicing
Agreement") dated as of August 1, 1997 by and between First National Bank of
Commerce, as Seller and Servicer ("FNBC"), and The First National Bank of
Chicago, as Trustee, (the "Trustee"), as amended and supplemented by the
Series 1997-1 Supplement dated as of August 1, 1997 by and between FNBC and
the Trustee, FNBC, as Servicer, is required to prepare certain information
for each Distribution Date regarding current distributions to Certificateholders
and the performance of the First NBC Credit Card Master Trust (the "Trust")
during the previous period. The information which is required to be prepared
with respect to the distribution on the February 15,1998 Distribution Date,
and with respect to the performance of the Trust during the month of 1/1/98
to 1/31/98 is set forth below. Certain of the information is presented on
the basis of an original principal amount of $1,000 per Series 1997-1
Certificate (a "Certificate"). Certain other information is presented based
on the aggregate amounts for the Trust as a whole. Capitalized terms used in
this Monthly Statement have their respective meanings set forth in the Pooling
and Servicing Agreement and the Supplement.
A Series 1997-1 Certificates
1 Information regarding Payments in respect of the Class A Certificates
(per $1,000 original certificate principal amount)
a Total Payment 5.125000
b Amount of Payment in respect of Class A Monthly Interest 5.125000
c Amount of Payment in respect of Class A Overdue Monthly Interest -
d Amount of Payment in respect of Class A Additional Interest -
e Amount of Payment in respect of Class A Principal -
2 Class A Investor Charge-Offs/Reimbursement of Class A Investor
Charge-Offs
a Total amount of Class A Investor Charge-Offs -
b Amount of Class A Investor Charge-Offs per $1,000 original
certificate principal amount -
c Total amount reimbursed in respect of Class A Investor Charge-Offs -
d Amount reimbursed in respect of Class A Investor Charge-Offs per
$1,000 original principal amount -
e The amount, if any, by which the outstanding Principal Balance of
the Class A Certificates exceeds the Class A Adjusted Investor
Interest after giving effect to all transactions on such Distribution
Date -
3 Information regarding Payments in respect of the Class B Certificates
(per $1,000 original certificate principal amount)
a Total Payment 5.291670
b Amount of Payment in respect of Class B Monthly Interest 5.291670
c Amount of Payment in respect of Class B Overdue Monthly Interest -
d Amount of Payment in respect of Class B Additional Interest -
e Amount of Payment in respect of Class B Principal -
4 Amount of reductions in Class B Investor Interest pursuant to clauses
(c), (d) and (e) of the definition of Class B Investor Interest
a Amount of reductions in Class B Investor Interest -
b Amount of reductions in Class B Investor Interest per $1,000
original certificate principal amount -
c Total amount reimbursed in respect of reductions of Class B Investor
Interest -
d Amount reimbursed in respect of reductions of Class B Investor
Interest per $1,000 original certificate principal amount -
e The amount, if any, by which the outstanding Principal Balance of
the Class B Certificates exceeds the Class B Investor Interest after
giving effect to all transactions on such Distribution Date -
Monthly Holders' Statement
Page 2 (all amounts in dollars except percentages)
5 Information regarding Distribution in respect of the Collateral Interest
a Total distribution 5.677590
b Amount of distribution in respect of Collateral Monthly Interest 5.677590
c Amount of distribution in respect of Collateral Overdue Interest -
d Amount of distribution in respect of Collateral Monthly Principal -
6 Amount of reductions in Collateral Interest pursuant to clauses
(c), (d) and (e) of the definition of Collateral Interest
a Amount of reductions in Collateral Interest -
b Total amount reimbursed in respect of reductions of Collateral
Interest -
B Trust Performance
1 Delinquencies
a 31-59 days 15,358,017
b 60-89 days 9,770,715
c 90 days and over 16,447,330
d Total 30+ days delinquent 41,576,062
2 Base Rate
a Current Monthly Period 8.167%
b Prior Monthly Period 8.192%
c Second Prior Monthly Period 8.173%
3 Three Month Average Base Rate 8.177%
4 Portfolio Yield (gross portfolio yield less net defaults)
a Current Monthly Period 11.60413%
b Prior Monthly Period 14.92847%
c Second Prior Monthly Period 13.46170%
5 Three Month Average Portfolio Yield 13.33143%
6 Excess Spread Percentage
a Current Monthly Period 3.43713%
b Prior Monthly Period 6.73647%
c Second Prior Monthly Period 5.28870%
7 Three Month Average Excess Spread Percentage 5.15410%
8 Monthly Payment Rate (total collections/beginning aggregate
principal receivables) 14.62165%
9 Portfolio Adjusted Yield 2.93713%
First National Bank of Commerce, Servicer
By:/s/ Anne M. Lacourrege
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Name: Anne M. Lacourrege
Title: Vice President