MONTHLY NOTEHOLDERS STATEMENT
M&I AUTO LOAN TRUST 2002-1
Class A1 1.77% Asset Backed Notes
Class A2 1.95% Asset Backed Notes
Class A3 2.49% Asset Backed Notes
Class A4 3.04% Asset Backed Notes
Class B 3.52% Asset Backed Notes
DISTRIBUTION DATE: January 21, 2003
MONTHLY PERIOD: December, 2002
Under the Sales and Servicing Agreement dated as of October 10, 2002 among
Marshall & Ilsley Bank as servicer and Marshall & Ilsley Auto Receivables LLC,
as seller, Marshall & Ilsley Auto Trust 2002-1 as issuer and the Bank One,
National Association as indenture trustee, the Servicer is required to prepare
certain information each month regarding current distributions to Noteholders
and the performance of the Trust during the previous month. The information that
is required to be prepared with respect to the Distribution Date and Monthly
Period listed above is set forth below. Certain of the information is presented
on the basis of an original principal amount of $1,000 per Note, and certain
other information is presented upon the aggregate amounts for the Trust as a
whole.
A. Information Regarding the Current Monthly Distribution
1. Notes
(A) The aggregate amount of the distribution
with respect to:
Class A-1 Notes 21,528,024.35
Class A-2 Notes 198,250.00
Class A-3 Notes 394,250.00
Class A-4 Notes 172,741.67
Class B Notes 34,650.00
(B) The amount of the distribution set forth in
paragraph A.1 (A) above in respect of
interest on:
Class A-1 Notes 154,736.37
Class A-2 Notes 198,250.00
Class A-3 Notes 394,250.00
Class A-4 Notes 172,741.67
Class B Notes 34,650.00
(C)
The amount of the distribution set forth in
paragraph A.1(A) above in respect of
principal on:
Class A-1 Notes 21,373,287.98
Class A-2 Notes (0.00)
Class A-3 Notes -
Class A-4 Notes -
Class B Notes -
MONTHLY NOTEHOLDERS STATEMENT
M&I AUTO LOAN TRUST 2002-1
Class A1 1.77% Asset Backed Notes
Class A2 1.95% Asset Backed Notes
Class A3 2.49% Asset Backed Notes
Class A4 3.04% Asset Backed Notes
Class B 3.52% Asset Backed Notes
DISTRIBUTION DATE: January 21, 2003
MONTHLY PERIOD: December, 2002
(D) The amount of the distribution set forth in
paragraph A.1 (A) above per $1,000
interest in:
Class A-1 Notes 161.86484474
Class A-2 Notes 1.62500000
Class A-3 Notes 2.07500000
Class A-4 Notes 2.53333338
Class B Notes 2.93333333
(E) The amount of the distribution set forth in
paragraph A.1 (B) above per $1,000
interest in:
Class A-1 Notes 1.16343135
Class A-2 Notes 1.62500000
Class A-3 Notes 2.07500000
Class A-4 Notes 2.53333338
Class B Notes 2.93333333
(F) The amount of the distribution set forth in
paragraph A.1 (C) above per $1,000
interest in:
Class A-1 Notes 160.70141338
Class A-2 Notes (0.00000000)
Class A-3 Notes -
Class A-4 Notes -
Class B Notes -
B. INFORMATION REGARDING THE PERFORMANCE OF THE TRUST
1. Pool Balance and Note Principal Balance
(A) The Pool Balance at the close of business
on the last day of the Monthly Period: 473,650,684.17
MONTHLY NOTEHOLDERS STATEMENT
M&I AUTO LOAN TRUST 2002-1
Class A1 1.77% Asset Backed Notes
Class A2 1.95% Asset Backed Notes
Class A3 2.49% Asset Backed Notes
Class A4 3.04% Asset Backed Notes
Class B 3.52% Asset Backed Notes
DISTRIBUTION DATE: January 21, 2003
MONTHLY PERIOD: December, 2002
(B) The aggregate outstanding principal
amount of each Class of Notes after giving
effect to payments allocated to principal as
set forth in paragraph A.1 (C) above with
respect to:
Class A-1 Notes 76,976,102.75
Class A-2 Notes 122,000,000.00
Class A-3 Notes 190,000,000.00
Class A-4 Notes 68,187,500.00
Class B Notes 11,812,500.00
(C) The Note Pool Factor for each Class of
Notes after giving affect to the payments
set forth in paragraph A.1 (C) above with
respect to:
Class A-1 Notes 0.57876769
Class A-2 Notes 1.00000000
Class A-3 Notes 1.00000000
Class A-4 Notes 1.00000000
Class B Notes 1.00000000
(D) The amount of aggregate Realized Losses
for the preceding Monthly Period:
3,843.21
(E) The aggregate Purchase Amount for all
Receivables that were repurchased in the
Monthly Period: -
2. Servicing Fee
The aggregate amount of the Servicing Fee
paid to the Servicer with respect to the
preceding Monthly Period
205,453.42
3. Payment Shortfalls
(A) The amount of the Noteholders' Interest
Carryover Shortfall after giving effect to the
payments set forth in paragraph A.1 (B)
above with respect to:
Class A-1 Notes -
Class A-2 Notes -
Class A-3 Notes -
Class A-4 Notes -
Class B Notes -
MONTHLY NOTEHOLDERS STATEMENT
M&I AUTO LOAN TRUST 2002-1
Class A1 1.77% Asset Backed Notes
Class A2 1.95% Asset Backed Notes
Class A3 2.49% Asset Backed Notes
Class A4 3.04% Asset Backed Notes
Class B 3.52% Asset Backed Notes
DISTRIBUTION DATE: January 21, 2003
MONTHLY PERIOD: December, 2002
(B) The amount of the Noteholders' Interest
Carryover Shortfall set forth in paragraph
3(A) above per $1,000 interest with respect
to:
Class A-1 Notes -
Class A-2 Notes -
Class A-3 Notes -
Class A-4 Notes -
Class B Notes -
4
(A) The aggregate amount of collections by the
Servicer during the preceding Monthly
Period:
22,599,420.36
(B) The aggregate amount which was received
by the Trust from the Servicer during the
Monthly Period: 22,393,966.94
(C) The number of Receivables that are delinquent for:
30-59 days 90
60-89 days 20
90 or more days 11
Repossessed Autos in Inventory 3
M&I Auto Loan Trust 2002-1 Page 1
Monthly Servicing Report
Distribution Date January 21, 2003 Closing Date: October 10, 2002
Collection Period Begin Date: December 1, 2002 Previous Distribution Date: December 20, 2002
Collection Period End Date: December 31, 2002 Previous Collection Period End Date: November 30, 2002
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A. Initial Bond Characteristics Cutoff Balance Coupon Accrual Calendar Legal Final Maturity CUSIP
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I. Class A-1 Notes $133,000,000.00 1.770% Actual/360 October 20, 2003 55255PAF7
ii Class A-2 Notes $122,000,000.00 1.950% 30/360 July 20, 2005 55255PAG5
iii Class A-3 Notes $190,000,000.00 2.490% 30/360 October 22, 2007 55255PAH3
iv Class A-4 Notes $ 68,187,500.00 3.040% 30/360 October 20, 2008 55255PAJ9
v Class B Notes $ 11,812,500.00 3.520% 30/360 September 21, 2009 55255PAK6
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B. Bond Balances Balance as of % of Original Balance Unpaid Interest Unpaid Interest
12/20/2002 01/21/2003 12/20/2002 01/21/2003 12/20/2002 01/21/2003
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I. Class A-1 Notes $ 98,349,390.73 $ 76,976,102.75 73.95% 57.88% - -
ii Class A-2 Notes $122,000,000.00 $122,000,000.00 100.00% 100.00% - -
iii Class A-3 Notes $190,000,000.00 $190,000,000.00 100.00% 100.00% - -
iv Class A-4 Notes $ 68,187,500.00 $ 68,187,500.00 100.00% 100.00% - -
v Class B Notes $ 11,812,500.00 $ 11,812,500.00 100.00% 100.00% - -
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M&I Auto Loan Trust 2002-1 Page 2
Monthly Servicing Report
Distribution Date January 21, 2003 Closing Date: October 10, 2002
Collection Period Begin Date: December 1, 2002 Previous Distribution Date: December 20, 2002
Collection Period End Date: December 31, 2002 Previous Collection Period End Date: November 30, 2002
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C. Reserve Account
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I. Initial Reserve Deposit $2,431,305.00
ii Reserve Account Deposits for Prefunding $ 0.00
iii Beginning of Period Reserve Balance (Including Prefunding Deposits) $2,624,940.86
iv Specified Reserve Account Percent 0.50% of Aggregate Loans Purchased
v Specified Reserve Account Floor $ 0.00
vi Specified Reserve Account Balance $2,624,940.86
vii Reserve Account Release $ 0.00
viii Reserve Account Draws $ 0.00
ix Reserve Account Deposits $ 0.00
x End of Period Reserve Balance $2,624,940.86
xi Outstanding Simple Interest Advances $ 67,792.66
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D. Pre-Funding Account
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I. Pre-Funding Amount % 17.57%
ii Pre-Funding Transfer Amount $92,217,688.56
iii Pre-Funding Account Balance $ 0.00
iv Investment Earnings and Income on funds in deposit $ 0.00
in the Pre-Funding Account during the collection period
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E. Servicing
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I. Servicing Fee Percentage 0.50%
ii Beginning of Period Servicing Shortfall 0.00
iii End of Period Servicing Shortfall 0.00
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M&I Auto Loan Trust 2002-1 Page 3
Monthly Servicing Report
Distribution Date January 21, 2003 Closing Date: October 10, 2002
Collection Period Begin Date: December 1, 2002 Previous Distribution Date: December 20, 2002
Collection Period End Date: December 31, 2002 Previous Collection Period End Date: November 30, 2002
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F. Portfolio Characteristics Initial Balance Balance as of % of Original as of
10/04/2002 11/30/2002 12/31/2002 11/30/2002 12/31/2002
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I. Principal Balance $432,770,483.68 $493,088,215.55 $473,650,684.17 113.94% 109.45%
ii Number of Contracts 32,439 36,863 36,072 113.64% 111.20%
iii Weighted Average Coupon (WAC) 7.32% 7.22% 7.21%
iv Weighted Average Original Term 59.64 59.71 59.73
v Weighted Average Remaining Term 50.24 50.32 49.45
vi Weighted Average Seasoning 9.40 9.40 10.28
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M&I Auto Loan Trust 2002-1 Page 4
Monthly Servicing Report
Distribution Date January 21, 2003 Closing Date: August 30, 2001
Collection Period Begin Date: December 1, 2002 Previous Distribution Date: December 20, 2002
Collection Period End Date: December 31, 2002 Previous Collection Period End Date: November 30, 2002
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G.1 Portfolio Performance # of % of # of Principal % of Principal
Contracts Contracts Balance Balance
11/30/2002 12/31/2002 11/30/2002 12/31/2002 11/30/2002 12/31/2002 11/30/2002 12/31/2002
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I. 30-59 Days Delinquent 82 90 0.22% 0.25% 875,827.42 1,026,911.37 0.18% 0.22%
ii 60-89 Days Delinquent 14 20 0.04% 0.06% 185,681.82 251,432.90 0.04% 0.05%
iii 90-119 Days Delinquent 0 11 0.00% 0.03% 0.00 153,619.37 0.00% 0.03%
iv 120+ Days Delinquent 0 0 0.00% 0.00% 0.00 0.00 0.00% 0.00%
v Repo in Inventory
(Charged-Off) 0 0 0.00% 0.00% 0.00 0.00 0.00% 0.00%
vi Repo in Inventory
(Not Charged-Off) 0 3 0.00% 0.01% 0.00 48,304.46 0.00% 0.01%
vii Gross Charge-Offs in
Period 0 1 0.00% 0.00% 0.00 4,413.68 0.00% 0.00%
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G.2 Ratios Ratio
10/31/2002 11/30/2002 12/31/2002 3 Month Average
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I. Net Loss Ratio 0.00% 0.00% 0.01% 0.00%
ii Delinquency Ratio 0.00% 0.04% 0.09% 0.04%
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H. Portfolio Charge-Offs Dollar Amount % of Original Balance
11/30/2002 12/31/2002 11/30/2002 12/31/2002
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I. Gross Charge-Offs in Period $ 0.00 $4,413.68 0.000% 0.001%
ii Cumulative Gross Charge-Offs $ 0.00 $4,413.68 0.000% 0.001%
iii Net Losses in Period ($818.50) $3,843.21 0.000% 0.001%
iv Cumulative Net Losses ($1,025.56) $2,817.65 0.000% 0.001%
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M&I Auto Loan Trust 2002-1 Page 5
Monthly Servicing Report
Distribution Date January 21, 2003 Closing Date: October 10, 2002
Collection Period Begin Date: December 1, 2002 Previous Distribution Date: December 20, 2002
Collection Period End Date: December 31, 2002 Previous Collection Period End Date: November 30, 2002
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I. Pool Collections
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I. Borrower Interest Collections 3,097,939.53
ii Borrower Principal Collections 19,433,117.70
iii Net Liquidation Proceeds -
iv Recoveries 570.47
v Simple Interest Advance 67,792.66
vi Repurchase Amounts (Interest) -
vii Repurchase Amounts (Principal) -
viii. Total Interest Collections 3,165,732.19
ix Total Principal Collections $ 19,433,688.17
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J. Pool Balance Reconciliation
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I. Beginning Pool Balance 493,088,215.55
ii Additional Fundings -
iii Pool Balance Reductions from Principal Collections 19,433,117.70
iv Gross Charge-Offs in Period 4,413.68
v Ending Pool Balance 473,650,684.17
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K. Total Available
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I. Total Pool Collections 22,599,420.36
ii Pre-Funding Account Income -
iii Pre-Funding Account Release -
Reserve Account Balance 2,624,940.86 -
Specified Reserve Account Amount 2,624,940.86 -
-------------
iv Reserve Account Release - -
v Reserve Account Draw -
vi Collected Funds 22,599,420.36
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M&I Auto Loan Trust 2002-1 Page 6
Monthly Servicing Report
Distribution Date January 21, 2003 Closing Date: October 10, 2002
Collection Period Begin Date: December 1, 2002 Previous Distribution Date: December 20, 2002
Collection Period End Date: December 31, 2002 Previous Collection Period End Date: November 30, 2002
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L. Waterfall Calculation Amount Due Amount Available Amount Paid
Steps for Distribution
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I. Reimbursement of Outstanding Simple Interest Advances $ 0.00 $ 66,050.92 22,599,420.36 66,050.92
Servicing Fee 205,453.42
Previous Servicing Fee Shortfall 0.00
==============
ii Total Servicing Fee $ 205,453.42 $ 205,453.42 22,533,369.44 205,453.42
iii Class A Notes Interest Distribution 919,978.04 22,327,916.02 919,978.04
iv Class B Notes Interest Distribution $ 0.00 34,650.00 21,407,937.98 34,650.00
v Reserve Fund Deposit $ 0.00 $ 0.00 21,373,287.98 -
a) Previous Class A-1 Notes $98,349,390.73 $ 0.00 - -
b) Previous Note Balance - Pool Balance $16,698,706.56 $ 0.00 - -
X.) MAX of a) and b) $98,349,390.73 $ 0.00 - -
==============
vi Regular Principal Distribution $98,349,390.73 98,349,390.73 21,373,287.98 21,373,287.98
vii Release to Seller - - -
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M&I Auto Loan Trust 2002-1 Page 7
Monthly Servicing Report
Distribution Date January 21, 2003 Closing Date: October 10, 2002
Collection Period Begin Date: December 1, 2002 Previous Distribution Date: December 20, 2002
Collection Period End Date: December 31, 2002 Previous Collection Period End Date: November 30, 2002
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M. Bond Interest Distributions Coupon Number of Days Current Previous Interest Accrued Total Bond Total Bond Interest
in Pay Period Interest Shortfall Interest on Interest Due Interest Paid Shortfall
Interest
Shortfall
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Total Class A Notes $ 919,978.04 0.00 0.00 919,978.04 919,978.04 0.00
Class A-1 Notes 1.770% 32 $ 154,736.37 0.00 0.00 154,736.37 154,736.37 0.00
Class A-2 Notes 1.950% 30 $ 198,250.00 0.00 0.00 198,250.00 198,250.00 0.00
Class A-3 Notes 2.490% 30 $ 394,250.00 0.00 0.00 394,250.00 394,250.00 0.00
Class A-4 Notes 3.040% 30 $ 172,741.67 0.00 0.00 172,741.67 172,741.67 0.00
Class B Notes 3.520% 30 $ 34,650.00 0.00 0.00 34,650.00 34,650.00 0.00
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N. Bond Principal Distributions
- --------------------------------------------------------
Priority Principal Distribution -
Regular Principal Distribution 21,373,287.98
==============
Total Principal Distribution 21,373,287.98
0
Class A-1 Notes Principal Distribution 21,373,287.98
Class A-2 Notes Principal Distribution 0.00
Class A-3 Notes Principal Distribution 0.00
Class A-4 Notes Principal Distribution 0.00
Class B Notes Principal Distribution 0.00
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