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: March 20, 2003
MONTHLY PERIOD: February, 2003
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 19,987,262.34
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 77,376.65
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 19,909,885.69
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: March 20, 2003
MONTHLY PERIOD: February, 2003
(D) The amount of the distribution set
forth in paragraph A.1 (A) above per
$1,000 interest in:
Class A-1 Notes 150.28016797
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 0.58177932
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 149.69838865
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: 436,069,283.90
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: March 20, 2003
MONTHLY PERIOD: February, 2003
(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 36,295,913.68
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 0.27290161
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 137,449.21
for the preceding Monthly Period:
(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 189,382.62
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: March 20, 2003
MONTHLY PERIOD: February, 2003
(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: 21,028,312.20
(B) The aggregate amount which was
received by the Trust from the
Servicer during the Monthly Period: 20,838,929.58
(C) The number of Receivables that are
delinquent for:
30-59 days 65
60-89 days 21
90 or more days 10
Repossessed Autos in Inventory 17
M&I Auto Loan Trust 2002-1
Monthly Servicing Report Page 1
Distribution Date March 20, 2003 Closing Date: October 10, 2002
Collection Period Begin Date: February 1, 2003 Previous Distribution Date: February 20, 2003
Collection Period End Date: February 28, 2003 Previous Collection Period End Date: January 31, 2003
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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
02/20/2003 03/20/2003 02/20/2003 03/20/2003 02/20/2003 03/20/2003
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i. Class A-1 Notes $ 56,205,799.37 $ 36,295,913.68 42.26% 27.29% - -
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
Monthly Servicing Report Page 2
Distribution Date March 20, 2003 Closing Date: October 10, 2002
Collection Period Begin Date: February 1,2003 Previous Distribution Date: February 20, 2003
Collection Period End Date: February 28, 2003 Previous Collection Period End Date: January 31, 2003
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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 $ 68,302.19
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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 March 20, 2003 Closing Date: October 10, 2002
Collection Period Begin Date: February 1, 2003 Previous Distribution Date: February 20, 2003
Collection Period End Date: February 28, 2003 Previous Collection Period End Date: January 31, 2003
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F. Portfolio Characteristics Initial Balance Prefunding Adjusted Initial Balance as of
10/04/2002 11/15/2002 Balances 01/31/2003 02/28/2003
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I. Principal Balance $432,770,438.68 $92,217,688,56 $524,988,172.24 $454,518.244 $436,069,283.90
ii Number of Contracts 32,439 5,706 38,145 35,260 34,440
iii Weighted Average Coupon (WAC) 7.32% 6.77% 7.22% 7.21% 7.21%
iv Weighted Average Original Term 59.64 60.04 59.71 59.73 59,74
v Weighted Average Remaining Term 50.24 58.22 51.64 48.58 47.79
vi Weighted Average Seasoning 9.40 1.82 8.07 11.15 11.95
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F. Portfolio Characteristics % of Adjusted Initial Balances as of
01/31/2003 02/28/2003
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I. Principal Balance 86.58% 83.06%
ii Number of Contracts 92.44% 90.29%
iii Weighted Average Coupon (WAC)
iv Weighted Average Original Term
v Weighted Average Remaining Term
vi Weighted Average Seasoning
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M&I Auto Loan Trust 2002-1 Page 4
Monthly Servicing Report
Distribution Date March 20, 2003 Closing Date: August 30, 2003
Collection Period Begin Date: February 1, 2003 Previous Distribution Date: February 20, 2003
Collection Period End Date: February 28, 2003 Previous Collection Period End Date: January 31, 2003
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G.1 Portfolio Performance # of Contracts % of # of Contracts Principal Balance % of Principal Balance
01/31/2003 02/28/2003 01/31/2003 02/28/2003 01/31/2003 02/28/2003 01/31/2003 02/28/2003
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I. 30-59 Days Delinquent 84 65 0.24% 0.19% 981,352.36 637,938.62 0.22% 0.15%
ii 60-89 Days Delinquent 15 21 0.04% 0.06% 163,995.98 263,772.90 0.04% 0.06%
iii 90-119 Days Delinquent 13 9 0.04% 0.03% 176,324.78 87,091.63 0.04% 0.02%
iv 120+ Days Delinquent 0 1 0.00% 0.00% 0.00 1,274.62 0.00% 0.00%
v Repo in Inventory
(Charged-Off) 4 11 0.01% 0.03% 61,108.65 165,412.37 0.01% 0.04%
vi Repo in Inventory (Not
Charged-Off) 8 6 0.02% 0.02% 124,166.98 105,055.15 0.03% 0.02%
vii Gross Charge-Offs
in Period 13 11 0.04% 0.03% 159,249.66 154,517.68 0.04% 0.04%
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G.2 Ratios Ratio
12/31/2002 01/31/2003 02/28/2003 3 Month Average
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I. Net Loss Ratio 0.01% 0.41% 0.37% 0.26%
ii Delinquency Ratio 0.09% 0.07% 0.08% 0.08%
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H. Portfolio Charge-Offs Dollar Amount % of Adjusted Initial Balances
01/31/2003 02/28/2003 01/31/2003 02/28/2003
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I. Gross Charge-Offs in Period $159,249.66 $154,517.68 0.030% 0.029%
ii Cumulative Gross Charge-Offs $163,663.34 $318,181.02 0.031% 0.061%
iii Net Losses in Period $158,381.55 $137,449.21 0.030% 0.026%
iv Cumulative Net Losses $161,199.20 $298,648.41 0.031% 0.057%
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M&I Auto Loan Trust 2002-1 Page 5
Monthly Servicing Report
Distribution Date March 20, 2003 Closing Date: October 10, 2002
Collection Period Begin Date: February 1, 2003 Previous Distribution Date: February 20, 2003
Collection Period End Date: February 28, 2003 Previous Collection Period End Date: January 31, 2003
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Pool Collections
- --------------------------------------------------------------------------------
I. Borrower Interest Collections 2,648,456.94
ii Borrower Principal Collections 18,294,484.60
iii Net Liquidation Proceeds -
iv Recoveries 17,068.47
v Simple Interest Advance 68,302.19
vi Repurchase Amounts (Interest) -
vii Repurchase Amounts (Principal) -
viii Total Interest Collections 2,716,759.13
ix Total Principal Collections $ 18,311,553.07
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J. Pool Balance Reconciliation
- --------------------------------------------------------------------------------
I. Beginning Pool Balance 454,518,286.18
ii Additional Fundings -
iii Pool Balance Reductions from Principal Collections 18,294,484.60
iv Gross Charge-Offs in Period 154,517.68
v Ending Pool Balance 436,069,283.90
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K. Total Available
- --------------------------------------------------------------------------------
I. Total Pool Collections 21,028,312.20
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 21,028,312.20
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M&I Auto Loan Trust 2002-1 Page 6
Monthly Servicing Report
Distribution Date March 20, 2003 Closing Date: October 10, 2002
Collection Period Begin Date: February 1, 2003 Previous Distribution Date: February 20, 2003
Collection Period End Date: February 28, 2003 Previous Collection Period End Date: January 31, 2003
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Calculation Amount Available
L. Waterfall Steps Amount Due for Distribution Amount Paid
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I. Reimbursement of Outstanding Simple Interest Advances $ 0.00 $ 51,775.57 21,028,312.20 51,775.57
Servicing Fee 189,382.62
Previous Servicing Fee Shortfall 0.00
==============
ii Total Servicing Fee $ 189,382.62 $ 189,382.62 20,976,536.63 189,382.62
iii Class A Notes Interest Distribution 842,618.32 20,787,154.01 842,618.32
iv Class B Notes Interest Distribution $ 0.00 34,650.00 19,944,535.69 34,650.00
v Reserve Fund Deposit $ 0.00 $ 0.00 19,909,885.69 -
a) Previous Class A-1 Notes $56,205,799.37 $ 0.00 - -
b) Previous Note Balance - Pool Balance $12,136,515.47 $ 0.00 - -
X.) MAX of a) and b) $56,205,799.37 $ 0.00 - -
vi Regular Principal Distribution $56,205,799.37 56,205,799.37 19,909,885.69 19,909,885.69
vii Release to Seller - - -
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M&I Auto Loan Trust 2002-1 Page 7
Monthly Servicing Report
Distribution Date March 20, 2003 Closing Date: October 10, 2002
Collection Period Begin Date: February 1, 2003 Previous Distribution Date: February 20, 2003
Collection Period End Date: February 28, 2003 Previous Collection Period End Date: January 31, 2003
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Accrued
Current Previous Interest
Bond Interest Distributions Coupon Number of Days Interest Interest on Interest Total Bond Total Bond Interest
in Pay Period Shortfall Shortfall Interest Due Interest Paid Shortfall
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Total Class A Notes $842,618.32 0.00 0.00 842,618.32 842,618.32 0.00
Class A-1 Notes 1.770% 28 $ 77,376.65 0.00 0.00 77,376.65 77,376.65 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 19,909,885.69
=================
Total Principal Distribution 19,909,885.69
0
Class A-1 Notes Principal Distribution 19,909,885.69
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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