Exhibit 28.1
WACHOVIA CORPORATION
WACHOVIA CREDIT CARD MASTER TRUST
SERIES 1995-1
MONTHLY SERVICING CERTIFICATE
Pursuant to the Pooling and Servicing Agreement, dated as of Oct. 26, 1995 (as
may be amended, from time to time, the "Agreement"), as supplemented by the
Series 1995-1 Supplement (as amended and Supplemented, the "Series Supplement"),
each between The First National Bank of Atlanta as Servicer and Transferor and
The Bank of New York, as Trustee, the Servicer is required to prepare certain
information each month regarding distributions to Certificateholders and the
performance of the Trust. The information with respect to the applicable
Distribution Date and Monthly Period is set forth below.
Monthly Period: 10/31/99
Transfer Date 11/12/99
Distribution Date: 11/15/99
Period 48
(Revolving = 0-48,
Controlled Accumulation = 49-60)
Julian Days in Current Period 31
Current LIBOR Rate 5.40625%
Coupon Period 10/15/99 - 11/14/99
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ORIGINAL DEAL PARAMETERS
Class A Initial Invested Amount $446,250,000.00
Class B Initial Invested Amount $26,250,000.00
Class C Initial Invested Amount $27,500,000.00
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Total Initial Invested Amount $500,000,000.00
Cash Collateral Amount $10,000,000.00
Prior Month Credit Enhancer's Portion of CCA $0.00
Prior Month Wachovia's Portion of CCA and
Spread Account $10,000,000.00
Increase(Decrease) in Wachovia's Portion of
CCA and Spread Account $0.00
Current Month Credit Enhancer's Portion of CCA $0.00
Excess Cash Over the Required Cash Collateral Amount $0.00
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Amount on Deposit In Spread Account $0.00
Class A Certificate Rate 10/15/99 - 11/14/99 5.57625%
Class B Certificate Rate 10/15/99 - 11/14/99 5.68125%
Class C Certificate Rate 10/15/99 - 11/14/99 5.80625%
Class C Certificate Rate 10/15/99 - 11/14/99 5.65625%
Servicing Fee Percentage 2.0000%
Discount Percentage 0.0000%
LIBOR Rate 10/15/99 - 11/14/99 5.40625%
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I. RECEIVABLES IN THE TRUST
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Beginning of the Period Principal Receivables $2,661,908,648.98
Beginning of the Period Finance Charge Receivables $33,052,237.87
Beginning of the Period Discounted Receivables $0.00
Beginning of the Period Total Receivables $2,694,960,886.85
Removed Principal Receivables $0.00
Removed Finance Charge Receivables $0.00
Removed Total Receivables $0.00
Additional Principal Receivables $0.00
Additional Finance Charge Receivables $0.00
Additional Total Receivables $0.00
End of Period Principal Receivables $2,632,731,461.66
End of Period Finance Charge Receivables $33,707,962.25
End of Period Discounted Receivables $0.00
End of Period Total Receivables $2,666,439,423.91
II. INVESTED AMOUNTS AND ALLOCATION PERCENTAGES
Class A Initial Invested Amount $446,250,000.00
Class B Initial Invested Amount $26,250,000.00
Class C Initial Invested Amount $27,500,000.00
Total Initial Invested Amount $500,000,000.00
Class A Invested Amount $446,250,000.00
Class B Invested Amount $26,250,000.00
Class C Invested Amount $27,500,000.00
Total Invested Amount $500,000,000.00
Adjusted Investor Interest $500,000,000.00
Floating Allocation Percentage 18.7835%
Class A Floating Allocation Percentage 89.2500%
Class B Floating Allocation Percentage 5.2500%
Class C Floating Allocation Percentage 5.5000%
Principal Allocation Percentage 18.7835%
Class A Principal Allocation Percentage 89.2500%
Class B Principal Allocation Percentage 5.2500%
Class C Principal Allocation Percentage 5.5000%
Total Servicing Fee $833,333.33
Investor Defaulted Amount $1,813,638.41
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III. SELLER'S INTEREST, RETAINED INTEREST AND EXCESS FUNDING ACCOUNT
Beginning Seller's Interest $765,954,848.98
Ending Seller's Interest $736,777,661.66
Required Seller's Interest $132,366,002.77
Current Month Deposit into Excess Funding Account $0.00
Amount on deposit in Excess Funding Account $0.00
IV. PERFORMANCE SUMMARY
COLLECTIONS:
Collections of Principal Receivables $264,668,882.56
Collections of Finance Charge Receivables $33,052,237.87
Collections of Interchange $604,183.87
Servicer Interchange $416,666.67
Net Interchange $187,517.20
Collections of Recoveries $1,030,085.65
Total Finance Charge Collections $34,686,507.39
Total Payment Collections $297,721,120.43
Total Collections $299,355,389.95
DELINQUENCIES AND LOSSES:
End of the month delinquencies:
30 days delinquent $29,765,924.44
60 days delinquent $17,354,057.78
90 days delinquent $12,205,878.17
120 + days delinquent $16,096,307.92
Total 30 + days delinquent $75,422,168.31
Gross Charge-Offs during the month $9,655,479.52
Recoveries during the month $1,030,085.65
Net Charge-Offs during the month $8,625,393.87
Defaulted Amount (excluding recoveries) $9,655,479.52
# of Accounts Amount
Total amount/number of Accounts
in Trust (at end of month) 1,667,271 $2,666,439,423.91
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V. AVAILABLE SERIES 1995-1 FINANCE CHARGE COLLECTIONS
Available Series 1995-1 Finance Charge Collections $6,589,375.42
Class A Available Finance Charge Collections $5,881,017.56
Class A Interest $2,142,790.23
Class A Deficiency Amount $0.00
Class A Additional Interest $0.00
Class A Investor Defaulted Amount $1,618,672.28
Class A Servicing Fee [if Wachovia] $371,875.00
Accrued and Unpaid Class A Servicing Fee $0.00
Servicing Fee [if not Wachovia] $0.00
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Excess Spread Class A $1,747,680.05
Class B Available Finance Charge Collections $345,942.21
Class B Interest $128,419.92
Class B Deficiency Amount $0.00
Class B Additional Interest $0.00
Class B Servicing Fee [if Wachovia] $21,875.00
Accrued and Unpaid Class B Servicing Fee $0.00
Servicing Fee [if not Wachovia] $0.00
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Excess Spread Class B $195,647.29
Class C Available Finance Charge Collections $362,415.65
Servicing Fee [if not Wachovia] $0.00
Excess Spread Class C $362,415.65
Total Excess Finance Charge Collections $2,305,742.99
Class A Required Amount $0.00
Class A Investor Charge-off Reimbursement $0.00
Class B Required Amount $0.00
Class C Interest $137,495.23
Class C Deficiency Amount $0.00
Class C Additional Interest $0.00
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Class C Accrued and unpaid collateral interest $0.00
Class B Investor Defaulted Amount $95,216.02
Class C Servicing Fee [if Wachovia] $22,916.67
Class C Investor Defaulted Amount $99,750.11
Class C Investor Charge-Off Reimbursement $0
Cash Collateral Requirement $0
Loan Agreement Interest Due $0.00
Deposit to Reserve Account
Shared Excess Finance Charge Collections $1,950,364.96
VI. YIELD AND BASE RATE
BASE RATE
Base Rate (current month) 7.7809%
Base Rate (prior month) 7.5682%
Base Rate (2 months ago) 7.4569%
3 Month Average Base Rate 7.6020%
PORTFOLIO YIELD
Portfolio Yield (current month) 12.4618%
Portfolio Yield (prior month) 15.4229%
Portfolio Yield (2 months ago) 13.1489%
3 Month Average Portfolio Yield 13.6779%
Portfolio Adjusted Yield 5.5759%
VII. PORTFOLIO PERFORMANCE RATES
Gross Charge-Offs ((% of Total Receivables
Outstanding (at beginning of month)) 4.2993%
Gross Charge-Offs ((% of Principal Receivables
Outstanding (at beginning of month )) 4.3527%
Monthly Payment Rate ((% of Total Receivables
Outstanding (at beginning of month)) 11.0473%
Gross Yield (annualized) 16.8145%
Portfolio Yield (3 month average) 13.6779%
Base Rate (3 month average) 7.6020%
Excess Finance Charge Collections % (Current Month
Including Servicer Interchange) 4.6809%
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VIII. PRINCIPAL COLLECTIONS
Class A Principal Allocation Percentage 89.2500%
Class A Monthly Principal $44,369,850.52
Class B Principal Allocation Percentage 5.2500%
Class B Monthly Principal $2,609,991.21
Class C Principal Allocation Percentage 5.5000%
Class C Monthly Principal $2,734,276.50
Total Monthly Principal $49,714,118.23
Reallocated Principal Collections $0.00
Shared Principal Collections allocable from other Series $0.00
IX. INVESTOR CHARGE-OFFS
CLASS A INVESTOR CHARGE-OFFS
Class A Investor Charge-Offs $0.00
Class A Investor Charge-Offs per $1,000 original
certificate principal amount $0.00
Total amount reimbursed in respect of
Class A Investor Charge-Offs $0.00
Total amount reimbursed in respect of Class A
Investor Charge-Offs per $1,000
original certificate principal amount $0.00
The amount, if any, by which the outstanding
principal balance of the Class A Certificates
exceeds the Class A Invested Amount after
giving effect to all transactions on such
Distribution Date. $0.00
CLASS B INVESTOR CHARGE-OFFS
Class B Investor Charge-Offs $0.00
Class B Investor Charge-Offs per
$1,000 original certificate principal amount $0.00
Total amount reimbursed in respect of Class B
Investor Charge-Offs $0.00
Total amount reimbursed in respect of Class B
Investor Charge-Offs per $1,000 original
certificate principal amount $0.00
The amount, if any, by which the outstanding
principal balance of the Class B Certificates
exceeds the Class B Invested Amount after giving
effect to all transactions on such Distribution Date. $0.00
CLASS C INVESTOR CHARGE-OFFS
Class C Investor Charge-Offs $0.00
Class C Investor Charge-Offs per $1,000 original
certificate principal amount $0.00
Total amount reimbursed in respect of Class C
Investor Charge-Offs $0.00
Total amount reimbursed in respect of Class C
Investor Charge-Offs per $1,000 original
certificate principal amount $0.00
The amount, if any, by which the outstanding principal
balance of the Class C Certificates exceeds the Class C
Invested Amount after giving effect to all transactions
on such Distribution Date. $0.00
Current Month Required Draw Amount $0.00
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X. AMORTIZATION
Current Monthly Amount deposited in
Principal Funding Account $0.00
Cumulative Amount Deposited in Principal
Funding Account prior to current month $0.00
Current Month Accumulation Shortfall $0.00
Current Month Principal Funding Account
Investment Proceeds $0.00
Current Month Reserve Account Amount Deposited
in the Finance Charge Account $0.00
Cumulative Reserve Account Amount $0.00
Required Reserve Account Draw Amount $0.00
Amount Withdrawn From Principal Funding
Account Deposited Into Distribution Account $0.00
Cumulative Class A principal paid (as of prior distribution dates)
Class A Principal Payments $0.00
Class A Principal Payments per $1,000 original
principal certificate amount
Total Class A Principal Paid $0.00
Cumulative Class B principal paid (as of prior distribution dates)
Class B Principal Payments $0.00
Class B Principal Payments per $1,000
original principal certificate amount
Total Class B Principal Paid $0.00
Cumulative Class C Principal Paid (as of prior distribution dates)
Class C Principal Payments $0.00
Class C Principal Payments per $1,000 original
principal certificate amount
Total Class C Principal Paid $0.00
Principal Paid to Transferor Certficateholder $0.00
The First National Bank of Atlanta, as Servicer
Date: November 5, 1999
By: Michael L. Scheuerman
Title: Senior Vice President
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