Franklin Bank Corp. (fka FBTXQ)

[BUDDIEE18]

More Franklin assets on the block

Tuesday, September 22, 2009

Sales adviser DebtX has placed more failed bank assets on the sales block, including recently released assets formerly held by Franklin Bank.

The Houston bank was shut down by the Federal Deposit Insurance Corp. in November 2008.

The sale of assets includes $106 million in performing and nonperforming commercial real estate and commercial and industrial loans from a group of failed banks nationwide, including Franklin.

Though based in Houston, most of the toxic assets that accumulated on Franklin’s books were held in California, Florida and Nevada.

The loans will be offered for sale in 35 pools. Of the total, 56 percent are performing and 44 percent are nonperforming and are held throughout the United States, with a concentration in the Southeast.

The loan bid date is Oct. 27.

http://houston.bizjournals.com/houston/stories/2009/09/21/daily15.html