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: May 20, 2003
MONTHLY PERIOD: April, 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 14,265,382.67
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 20,311.10
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 14,245,071.57
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: May 20, 2003
MONTHLY PERIOD: April, 2003
(D) The amount of the distribution
set forth in paragraph A.1 (A)
above per $1,000 interest in:
Class A-1 Notes 107.25851632
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 0.15271504
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 107.10580128
Class A-2 Notes -
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: 394,949,533.57
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: May 20, 2003
MONTHLY PERIOD: April, 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 -
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 -
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: 149,872.59
(E) The aggregate Purchase Amount
for all Receivables that were
repurchased in the Monthly
Period: 12,760.79
2. Servicing Fee
The aggregate amount of the
Servicing Fee paid to the
Servicer with respect to the
preceding Monthly Period
173,114.00
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: May 20, 2003
MONTHLY PERIOD: April, 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: 22,862,694.24
(B) The aggregate amount which was
received by the Trust from the
Servicer during the Monthly
Period: 22,689,580.24
(C) The number of Receivables that
are delinquent for:
30-59 days 70
60-89 days 16
90 or more days 10
Repossessed Autos in Inventory 18
M&I Auto Loan Trust 2002-1 Page 1
Monthly Servicing Report
Distribution Date May 20, 2003 Closing Date: October 10, 2002
Collection Period Begin Date: April 1, 2003 Previous Distribution Date: April 21, 2003
Collection Period End Date: April 30, 2003 Previous Collection Period End Date: March 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
4/21/2003 5/20/2003 4/21/2003 5/20/2003 4/21/2003 5/20/2003
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I. Class A-1 Notes $14,245,071.57 $ 0.00 10.71% 0.00% - -
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 May 20, 2003 Closing Date: October 10, 2002
Collection Period Begin Date: April 1, 2003 Previous Distribution Date: April 21, 2003
Collection Period End Date: April 30, 2003 Previous Collection Period End Date: March 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 $ 50,129.69
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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 May 20, 2003 Closing Date: October 10, 2002
Collection Period Begin Date: April 1, 2003 Previous Distribution Date: April 21, 2003
Collection Period End Date: April 30, 2003 Previous Collection Period End Date: March 31, 2003
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F. Portfolio Characteristics Initial Balance Prefunding Adjusted Initial
10/4/2002 11/15/2002 Balances
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I. Principal Balance $432,770,483.68 $92,217,688.56 $524,988,172.24
ii Number of Contracts 32,439 5,706 38,145
iii Weighted Average Coupon (WAC) 7.32% 6.77% 7.22%
iv Weighted Average Original Term 59.64 60.04 59.71
v Weighted Average Remaining Term 50.24 58.22 51.64
vi Weighted Average Seasoning 9.40 1.82 8.07
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F. Portfolio Characteristics Balance as of % of Adjusted Initial Balances as of
3/31/2003 4/30/2003 3/31/2003 4/30/2003
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I. Principal Balance $415,473,607.09 $394,949,533.57 79.14% 75.23%
ii Number of Contracts 33,452 32,363 87.70% 84.84%
iii Weighted Average Coupon (WAC) 7.20% 7.20%
iv Weighted Average Original Term 59.76 59.80
v Weighted Average Remaining Term 46.94 46.13
vi Weighted Average Seasoning 12.82 13.68
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M&I Auto Loan Trust 2002-1 Page 4
Monthly Servicing Report
Distribution Date May 20, 2003 Closing Date: August 30, 2001
Collection Period Begin Date: April 1, 2003 Previous Distribution Date: April 21, 2003
Collection Period End Date: April 30, 2003 Previous Collection Period End Date: March 31, 2003
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G.1 Portfolio Performance # of Contracts % of # of Contracts Principal Balance % of Principal Balance
3/31/2003 4/30/2003 3/31/2003 4/30/2003 3/31/2003 4/30/2003 3/31/2003 4/30/2003
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I. 30-59 Days Delinquent 67 70 0.20% 0.22% 694,410.80 737,618.93 0.17% 0.19%
ii 60-89 Days Delinquent 13 16 0.04% 0.05% 150,044.18 218,224.52 0.04% 0.06%
iii 90-119 Days Delinquent 15 8 0.04% 0.02% 194,012.34 73,481.12 0.05% 0.02%
iv 120+ Days Delinquent 0 2 0.00% 0.01% 0.00 0.00 0.00% 0.00%
v Repo in Inventory (Charged-Off) 6 9 0.02% 0.03% 84,839.09 141,824.54 0.02% 0.04%
vi Repo in Inventory (Not Charged-Off) 11 9 0.03% 0.03% 180,024.23 129,714.47 0.04% 0.03%
vii Gross Charge-Offs in Period 13 17 0.04% 0.05% 79,279.34 195,683.46 0.02% 0.05%
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G.2 Ratios Ratio
2/28/2003 3/31/2003 4/30/2003 3 Month Average
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I. Net Loss Ratio 0.37% 0.10% 0.44% 0.30%
ii Delinquency Ratio 0.08% 0.08% 0.07% 0.08%
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H. Portfolio Charge-Offs Dollar Amount % of Adjusted Initial Balances
3/31/2003 4/30/2003 3/31/2003 4/30/2003
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I. Gross Charge-Offs in Period $ 79,279.34 $195,683.46 0.015% 0.037%
ii Cumulative Gross Charge-Offs $397,460.36 $593,143.82 0.076% 0.113%
iii Net Losses in Period $ 34,001.32 $149,872.59 0.006% 0.029%
iv Cumulative Net Losses $332,649.73 $482,522.32 0.063% 0.092%
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M&I Auto Loan Trust 2002-1 Page 5
Monthly Servicing Report
Distribution Date May 20, 2003 Closing Date: August 30, 2001
Collection Period Begin Date: April 1, 2003 Previous Distribution Date: April 21, 2003
Collection Period End Date: April 30, 2003 Previous Collection Period End Date: March 31, 2003
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I. Pool Collections
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I. Borrower Interest Collections 2,438,285.02
ii Borrower Principal Collections 20,306,743.71
iii Net Liquidation Proceeds 8,964.16
iv Recoveries 45,810.87
v Simple Interest Advance 50,129.69
vi Repurchase Amounts (Interest) 78.60
vii Repurchase Amounts (Principal) 12,682.19
viii Total Interest Collections 2,488,493.31
ix Total Principal Collections $ 20,374,200.93
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J. Pool Balance Reconciliation
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I. Beginning Pool Balance 415,473,607.09
ii Additional Fundings -
iii Pool Balance Reductions from Principal Collections 20,328,390.06
iv Gross Charge-Offs in Period 195,683.46
v Ending Pool Balance 394,949,533.57
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K. Total Available
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I. Total Pool Collections 22,862,694.24
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 22,862,694.24
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M&I Auto Loan Trust 2002-1 Page 6
Monthly Servicing Report
Distribution Date May 20, 2003 Closing Date: October 10, 2002
Collection Period Begin Date: April 1, 2003 Previous Distribution Date: April 21, 2003
Collection Period End Date: April 30, 2003 Previous Collection Period End Date: March 31, 2003
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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 $ 0.00 $ 46,289.15 22,862,694.24 46,289.15
Advances
Servicing Fee 173,114.00
Previous Servicing Fee Shortfall 0.00
==============
ii Total Servicing Fee $ 173,114.00 $ 173,114.00 22,816,405.09 173,114.00
iii Class A Notes Interest Distribution 785,552.77 22,643,291.09 785,552.77
iv Class B Notes Interest Distribution $ 0.00 34,650.00 21,857,738.32 34,650.00
v Reserve Fund Deposit $ 0.00 $ 0.00 21,823,088.32 -
a) Previous Class A-1 Notes $14,245,071.57 $ 0.00 - -
b) Previous Note Balance - Pool Balance $11,295,538.00 $ 0.00 - -
X.) MAX of a) and b) $14,245,071.57 $ 0.00 - -
vi Regular Principal Distribution $14,245,071.57 14,245,071.57 21,823,088.32 14,245,071.57
vii Release to Seller 7,578,016.75 7,578,016.75 7,578,016.75
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M&I Auto Loan Trust 2002-1 Page 7
Monthly Servicing Report
Distribution Date May 20, 2003 Closing Date: October 10, 2002
Collection Period Begin Date: April 1, 2003 Previous Distribution Date: April 21, 2003
Collection Period End Date: April 30, 2003 Previous Collection Period End Date: March 31, 2003
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M. Bond Interest Distributions Coupon Number of Days Current Interest Previous Interest Accrued Interest
in Pay Period Shortfall on Interest
Shortfall
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Total Class A Notes $785,552.77 0.00 0.00
Class A-1 Notes 1.770% 29 $ 20,311.10 0.00 0.00
Class A-2 Notes 1.950% 30 $198,250.00 0.00 0.00
Class A-3 Notes 2.490% 30 $394,250.00 0.00 0.00
Class A-4 Notes 3.040% 30 $172,741.67 0.00 0.00
Class B Notes 3.520% 30 $ 34,650.00 0.00 0.00
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N. Bond Interest Distributions Total Bond Total Bond Interest
Interest Due Interest Paid Shortfall
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Total Class A Notes 785,552.77 785,552.77 0.00
Class A-1 Notes 20,311.10 20,311.10 0.00
Class A-2 Notes 198,250.00 198,250.00 0.00
Class A-3 Notes 394,250.00 394,250.00 0.00
Class A-4 Notes 172,741.67 172,741.67 0.00
Class B Notes 34,650.00 34,650.00 0.00
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N. Bond Principal Distributions
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Priority Principal Distribution -
Regular Principal Distribution 14,245,071.57
=============
Total Principal Distribution 14,245,071.57
Class A-1 Notes Principal Distribution 14,245,071.57
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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