UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported): July 17, 2006 FIRST NATIONAL MASTER NOTE TRUST (Exact name of registrant as specified in its charter) Nebraska 000-50139 Not applicable - ------------------------ ------------------------ ---------------------------- (State of Incorporation) (Commission File Number) (IRS Employer Identification Number) 1620 Dodge Street Stop Code 3198 Omaha, Nebraska 68197-3198 ---------------------------------------- ---------- (Address of principal executive offices) (Zip Code) (402) 341-0500 --------------------------------------- (Registrant's telephone number, including area code) Not applicable ------------------------------------------------ (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) ITEM 8.01. OTHER EVENTS. The registrant hereby files the Monthly Report to Noteholders for the monthly period ending June 30, 2006 as Exhibit 20 to Item 9.01(c) hereto. ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS. (a) Financial statements of businesses acquired. None. (b) Pro forma financial information. None. (c) Exhibits. EXHIBIT NO. DOCUMENT DESCRIPTION Exhibit 20 Series 2003-2 Asset Backed Notes Monthly Servicing Report for the monthly period ending June 30, 2006 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: July 25, 2006 FIRST NATIONAL FUNDING LLC By: First National Funding Corporation, Managing Member By: KARLYN M. KNIERIEM ------------------------------------------ Karlyn M. Knieriem, Senior Vice President and Treasurer Dated: July 25, 2006 FIRST NATIONAL MASTER NOTE TRUST By: First National Bank of Omaha, As Servicer of First National Master Note Trust By: TIMOTHY D. HART ------------------------------------------ Timothy D. Hart, Senior Vice President, Treasurer and Assistant Secretary EXHIBIT INDEX EXHIBIT NO. DESCRIPTION 20 Series 2003-2 Asset Backed Notes Monthly Servicing Report for the monthly period ending June 30, 2006