UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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 15, 1998
BOATMEN'S AUTO TRUST 1995-A
---------------------------
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
UNITED STATES
OF AMERICA 33-95450 43-6617959
-------------- -------- ----------
(STATE OR OTHER (COMMISSION FILE (IRS EMPLOYER
JURISDICTION OF NUMBER) IDENTIFICATION NO.)
INCORPORATION
BOATMEN'S AUTO TRUST 1995-A
TRANSAMERICA SQUARE
NC1-021-03-07
401 NORTH TRYON STREET
CHARLOTTE, NORTH CAROLINA 28255
(704) 386-5000
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)
----------------------------------------
REGISTRANT'S TELEPHONE NUMBER INCLUDING AREA CODE: (704) 386-5000
<PAGE>
ITEM 5. OTHER EVENTS
-------------
THE REGISTRANT HEREBY INCORPORATES BY REFERENCE THE INFORMATION
CONTAINED IN EXHIBIT 99 HERETO IN RESPONSE TO THIS ITEM 5.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL STATEMENTS AND
---------------------------------------------------------
EXHIBITS
-------
(C) EXHIBITS
99 MONTHLY SERVICING REPORT FOR NATIONSBANK, N.A., BOATMEN'S AUTO
TRUST 1995-A
<PAGE>
SIGNATURES
PURSUANT TO THE REQUIREMENTS OF THE SECURITIES AND EXCHANGE ACT OF 1934, THE
REGISTRANT HAS DULY CAUSED THIS REPORT TO BE SIGNED ON ITS BEHALF BY THE
UNDERSIGNED HEREUNTO DULY AUTHORIZED.
BOATMEN'S AUTO TRUST 1995-A
-----------------------------
(REGISTRANT)
DATED: BY: /S/ SUZANNE W. CASTLEBERRY
-----------------------------
NAME: SUZANNE W. CASTLEBERRY
TITLE: VICE PRESIDENT
NATIONSBANK, N.A.
(DULY AUTHORIZED OFFICER)
<PAGE>
INDEX TO EXHIBITS
-----------------
EXHIBIT
NUMBER EXHIBIT
- ------ -------
99 MONTHLY SERVICING REPORT FOR NATIONSBANK,N.A., BOATMEN'S AUTO TRUST
1995-A
<TABLE>
<CAPTION>
Exhibit 99
NATIONSBANK, N.A.
MONTHLY SERVICING REPORT -- BOATMEN'S AUTO TRUST 1995-A
JUNE 1, 1998 THROUGH JUNE 30, 1998
<S> <C> <C>
A. ORIGINAL DEAL PARAMETER INPUTS
- ---------------------------------
(A) Total Portfolio Balance. . . . . . . . . . . . . . . . . . . . . . . . . . . $303,441,223.00
(B) Class A-1 Notes
(i) Class A-1 Notes Percentage . . . . . . . . . . . . . . . . . . . . . . 28.11%
(ii) Class A-1 Notes Balance. . . . . . . . . . . . . . . . . . . . . . . . $ 85,300,000.00
(iii) Class A-1 Notes Rate . . . . . . . . . . . . . . . . . . . . . . . . . 5.7725%
(C) Class A-2 Notes
(i) Class A-2 Notes Percentage . . . . . . . . . . . . . . . . . . . . . . 34.41%
(ii) Class A-2 Notes Balance. . . . . . . . . . . . . . . . . . . . . . . . $104,427,000.00
(iii) Class A-2 Notes Rate . . . . . . . . . . . . . . . . . . . . . . . . . 5.90%
(D) Class A-3 Notes
(i) Class A-3 Notes Percentage . . . . . . . . . . . . . . . . . . . . . . 33.47%
(ii) Class A-3 Notes Balance. . . . . . . . . . . . . . . . . . . . . . . . $101,576,574.00
(iii) Class A-3 Notes Rate . . . . . . . . . . . . . . . . . . . . . . . . . 6.10%
(E) Class B Certificates
(i) Class B Certificates Percentage. . . . . . . . . . . . . . . . . . . . 4.00%
(ii) Class B Certificates Balance . . . . . . . . . . . . . . . . . . . . . $ 12,137,649.00
(iii) Class B Certificates Rate. . . . . . . . . . . . . . . . . . . . . . . 6.35%
(F) Servicing Fee Rate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.00%
(G) Weighted Average Coupon (WAC). . . . . . . . . . . . . . . . . . . . . . . . 8.51%
(H) Weighted Average Original Maturity (WAOM). . . . . . . . . . . . . . . . . . 54.09 months
(I) Weighted Average Remaining Maturity (WAM). . . . . . . . . . . . . . . . . . 42.79 months
(J) Number of Receivables. . . . . . . . . . . . . . . . . . . . . . . . . . . . 32,378
(K) Reserve Account
(i) Reserve Account Initial Deposit Percentage . . . . . . . . . . . . . . 2.00%
(ii) Reserve Account Initial Deposit. . . . . . . . . . . . . . . . . . . . $ 6,068,825.00
(iii) Specified Reserve Account Balance (K(iii)(c) if 1.25% loss and delinq
triggers hit - otherwise greater of K(iii)(a or b))
(a) Percent of Initial Pool Balance. . . . . . . . . . . . . . . . . . 2.00%
(b) Percent of Remaining Pool Balance. . . . . . . . . . . . . . . . . 3.25%
(c) Trigger Percent of Remaining Pool Balance. . . . . . . . . . . . . 6.00%
B. INPUTS FROM PREVIOUS MONTHLY SERVICER REPORTS
- ------------------------------------------------
(A) Total Portfolio Balance. . . . . . . . . . . . . . . . . . . . . . . . . . . $ 37,411,336.77
(B) Total Note and Certificate Pool Factor . . . . . . . . . . . . . . . . . . . 0.1232902
(C) Class A-1 Notes
(i) Class A-1 Notes Balance . . . . . . . . . . . . . . . . . . . . . . . . $ 0.00
(ii) Class A-1 Notes Pool Factor . . . . . . . . . . . . . . . . . . . . . . 0.0000000
(D) Class A-2 Notes
(i) Class A-2 Notes Balance . . . . . . . . . . . . . . . . . . . . . . . . $ 0.00
(ii) Class A-2 Notes Pool Factor . . . . . . . . . . . . . . . . . . . . . . 0.0000000
(E) Class A-3 Notes
(i) Class A-3 Notes Balance . . . . . . . . . . . . . . . . . . . . . . . . $ 25,273,687.77
(ii) Class A-3 Notes Pool Factor . . . . . . . . . . . . . . . . . . . . . . 0.2488141
(F) Class B Certificates
(i) Class B Certificates Balance. . . . . . . . . . . . . . . . . . . . . . $ 12,137,649.00
(ii) Class B Certificates Pool Factor. . . . . . . . . . . . . . . . . . . . 1.0000000
(G) Reserve Account Balance. . . . . . . . . . . . . . . . . . . . . . . . . . . $ 6,068,824.46
(H) Cumulative Net Losses for All Prior Periods. . . . . . . . . . . . . . . . . 1,932,236.12
(I) Net Loss Ratio for Second Preceding Period . . . . . . . . . . . . . . . . . 0.51%
(J) Net Loss Ratio for Preceding Period. . . . . . . . . . . . . . . . . . . . . -0.12%
(K) Delinquency Ratio for Second Preceding Period. . . . . . . . . . . . . . . . 0.56%
(L) Delinquency Ratio for Preceding Period . . . . . . . . . . . . . . . . . . . 0.66%
(M) Weighted Average Coupon (WAC). . . . . . . . . . . . . . . . . . . . . . . . 8.67%
(N) Weighted Average Remaining Maturity (WAM). . . . . . . . . . . . . . . . . . 18.83 months
(O) Number of Receivables. . . . . . . . . . . . . . . . . . . . . . . . . . . . 9,096
C. INPUTS FROM THE MAINFRAME
- ----------------------------
(A) Simple Interest Receivables Principal
(i) Principal Collections. . . . . . . . . . . . . . . . . . . . . . . . . $ 3,473,885.46
(ii) Not Used . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
(iii) Repurchased Loan Proceeds Related to Principal . . . . . . . . . . . . 0.00
(iv) Other Refunds Related to Principal. . . . . . . . . . . . . . . . . . . 0.00
(B) Simple Interest Receivables Interest
(i) Interest Collections . . . . . . . . . . . . . . . . . . . . . . . . . 261,800.67
(ii) Repurchased Loan Proceeds Related to Interest. . . . . . . . . . . . . 0.00
(C) Weighted Average Coupon (WAC). . . . . . . . . . . . . . . . . . . . . . . . 8.69%
(D) Weighted Average Remaining Maturity (WAM). . . . . . . . . . . . . . . . . . 18.18 months
(E) Remaining Number of Receivables. . . . . . . . . . . . . . . . . . . . . . . 8,515
(F) Delinquent Receivables
</TABLE>
<TABLE>
<CAPTION>
Dollar Amount # Units
------------- --------
<C> <S> <C> <C> <C>
(i) 30-59 Days Delinquent 878,918 . . . . . . . . . . 2.59% 226 2.65%
(ii) 60-89 Days Delinquent 145,925 . . . . . . . . . . 0.43% 43 0.50%
(iii) 90 Days or More Delinquent 119,918 . . . . . . . . . . 0.35% 27 0.32%
(G) Repossessions
Dollar Amount # Units
------------- --------
70,318. . . . . . . . . . . 0.21% 13 0.15%
</TABLE>
<TABLE>
<CAPTION>
<S> <C>
D. INPUTS DERIVED FROM OTHER SOURCES
- ------------------------------------
(A) Reserve Account Investment Income . . . . . . . . . . . . . . . . . . . . . . . . . . $ 20,973.63
(B) Aggregate Net Losses before Liquidation Proceeds and Recoveries for Collection Period 20,973.15
(C) Liquidated Receivables Information
(i) Not Used. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
(ii) Not Used. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
(iii) Recoveries on Previously Liquidated Contracts . . . . . . . . . . . . . . . . . 14,578.86
(D) Aggregate Net Losses for Collection Period. . . . . . . . . . . . . . . . . . . . . . 6,394.29
(E) Actual Number of Days in Interest Period. . . . . . . . . . . . . . . . . . . . . . . 30
I. COLLECTIONS
- --------------
Interest:
(A) Interest Collections. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 261,800.67
(B) Not Used. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
(C) Repurchased Loan Proceeds Related to Interest . . . . . . . . . . . . . . . . . . . . 0.00
(D) Recoveries from Prior Month Charge Offs . . . . . . . . . . . . . . . . . . . . . . . 14,578.86
(E) Investment Earnings from the Reserve Account. . . . . . . . . . . . . . . . . . . . . 20,973.63
(F) Total Interest Collections. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 297,353.16
Principal:
(G) Principal Payments Received . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $3,473,885.46
(H) Not Used. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
(I) Repurchased Loan Proceeds Related to Principal. . . . . . . . . . . . . . . . . . . . 0.00
(J) Other Refunds Related to Principal. . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
(K) Total Principal Collections . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,473,885.46
(L) Total Collections . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $3,771,238.62
</TABLE>
<TABLE>
<CAPTION>
<S> <C> <C>
II. DISTRIBUTIONS Per $1,000 of
- ----------------- Original Balance
----------------
(A) Total Interest Collections. . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 297,353.16
(B) Servicing Fee . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 31,176.11 0.10
Interest Per $1,000 of
(C) Class A-1 Notes Monthly Interest Original Balance
----------------
(i) Class A-1 Notes Monthly Interest Due. . . . . . . . . . . . . . . . . . . . $ 0.00 0
(ii) Class A-1 Notes Monthly Interest Paid (after reserve fund draw) . . . . . . 0.00 0
-------------
(iii) Class A-1 Notes Monthly Interest Shortfall (after reserve fund draw) . . . $ 0.00 0
(D) Class A-2 Notes Monthly Interest
(i) Class A-2 Notes Monthly Interest Due. . . . . . . . . . . . . . . . . . . . $ 0.00 0
(ii) Class A-2 Notes Monthly Interest Paid (after reserve fund draw) . . . . . . 0.00 0
-------------
(iii) Class A-2 Notes Monthly Interest Shortfall (after reserve fund draw) . . . $ 0.00 0
(E) Class A-3 Notes Monthly Interest
(i) Class A-3 Notes Monthly Interest Due. . . . . . . . . . . . . . . . . . . . $ 128,474.58 1.264805205
(ii) Class A-3 Notes Monthly Interest Paid (after reserve fund draw) . . . . . . 128,474.58 1.264805205
-------------
(iii) Class A-3 Notes Monthly Interest Shortfall (after reserve fund draw) . . . $ 0.00 0
(F) Class B Certificates Monthly Interest
(i) Class B Certificates Monthly Interest Due . . . . . . . . . . . . . . . . . $ 64,228.39 5.291666667
(ii) Class B Certificates Monthly Interest Paid (after reserve fund draw). . . . 64,228.39 5.291666667
-------------
(iii) Class B Certificates Monthly Interest Shortfall (after reserve fund draw). $ 0.00 0
(G) Total Note and Certificate Interest Paid (after reserve fund draw). . . . . . . . $ 192,702.97
(H) Excess Interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 73,474.08
Principal
(I) Total Principal Collections . . . . . . . . . . . . . . . . . . . . . . . . . . . $3,473,885.46
(J) Draw on Reserve Fund for realized losses. . . . . . . . . . . . . . . . . . . . . 20,973.15
(K) Total Amount Available for Principal Distribution . . . . . . . . . . . . . . . . $3,494,858.61 Per $1,000 of
(L) Class A-1 Notes Monthly Principal Original Balance
----------------
(i) Class A-1 Notes Monthly Principal Due . . . . . . . . . . . . . . . . . . . 0.00 0
(ii) Class A-1 Notes Monthly Principal Paid (after reserve fund draw). . . . . . 0.00 0
-------------
(iii) Class A-1 Notes Monthly Principal Shortfall (after reserve fund draw). . . 0.00 0
(M) Class A-2 Notes Monthly Principal
(i) Class A-2 Notes Monthly Principal Due . . . . . . . . . . . . . . . . . . . 0.00 0
(ii) Class A-2 Notes Monthly Principal Paid (after reserve fund draw). . . . . . 0.00 0
-------------
(iii) Class A-2 Notes Monthly Principal Shortfall (after reserve fund draw). . . 0.00 0
(N) Class A-3 Notes Monthly Principal
(i) Class A-3 Notes Monthly Principal Due . . . . . . . . . . . . . . . . . . . 3,494,858.61 34.40614772
(ii) Class A-3 Notes Monthly Principal Paid (after reserve fund draw). . . . . . 3,494,858.61 34.40614772
-------------
(iii) Class A-3 Notes Monthly Principal Shortfall (after reserve fund draw). . . 0.00 0
(O) Class B Certificates Monthly Principal
(i) Class B Certificates Monthly Principal Due. . . . . . . . . . . . . . . . . 0.00 0
(ii) Class B Certificates Monthly Principal Paid (after reserve fund draw) . . . 0.00 0
-------------
(iii) Class B Certificates Monthly Principal Shortfall (after reserve fund draw) 0.00 0
(P) Total Note and Certificate Principal Paid . . . . . . . . . . . . . . . . . . . . 3,494,858.61
(Q) Total Distributions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,718,737.69
(R) Excess Servicing Releases from Reserve Account to Servicer. . . . . . . . . . . . 52,500.93
(S) Amount of Draw from Reserve Account . . . . . . . . . . . . . . . . . . . . . . . 20,973.15
(T) Draw from Reserve Account plus Total Available Amount . . . . . . . . . . . . . . 3,792,211.77
</TABLE>
<TABLE>
<CAPTION>
III. POOL BALANCES AND PORTFOLIO INFORMATION
- -------------------------------------------------
Beginning End
of Period of Period
--------------- ---------------
<C> <C> <S> <C> <C>
(A) Balances and Principal Factors
(i) Total Portfolio Balance $37,411,336.77 $33,916,478.16
(ii) Total Note and Certificate Pool Factor 0.1232902 0.1117728
(iii) Class A-1 Notes Balance 0.00 0.00
(iv) Class A-1 Notes Pool Factor 0.0000000 0.0000000
(v) Class A-2 Notes Balance 0.00 0.00
(vi) Class A-2 Notes Pool Factor 0.0000000 0.0000000
(vii) Class A-3 Notes Balance 25,273,687.77 21,778,829.16
(viii) Class A-3 Notes Pool Factor 0.2488141 0.2144080
(ix) Class B Certificates Balance 12,137,649.00 12,137,649.00
(x) Class B Certificate Pool Factor 1.0000000 1.0000000
(B) Portfolio Information
(i) Weighted Average Coupon (WAC) 8.67% 8.69%
(ii) Weighted Average Remaining Maturity (WAM) 18.83 months 18.18 months
(iii) Remaining Number of Receivables 9,096 8,515
(iv) Portfolio Receivable Balance $37,411,336.77 $33,916,478.16
</TABLE>
<TABLE>
<CAPTION>
IV. RECONCILIATION OF RESERVE ACCOUNT
- -----------------------------------------
<S> <C>
(A) Beginning Reserve Account Balance. . . . . . . . . . . . . . . . . . . . . . . . . . . $6,068,824.46
(B) Draw for Realized losses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20,973.15
(C) Draw for Servicing Fee . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
(D) Draw for Class A-1 Notes Interest Amount . . . . . . . . . . . . . . . . . . . . . . . 0.00
(E) Draw for Class A-2 Notes Interest Amount . . . . . . . . . . . . . . . . . . . . . . . 0.00
(F) Draw for Class A-3 Notes Interest Amount . . . . . . . . . . . . . . . . . . . . . . . 0.00
(G) Draw for Class B Certificates Interest Amount. . . . . . . . . . . . . . . . . . . . . 0.00
(H) Total Draw for Losses, Servicing, Notes and Certificates . . . . . . . . . . . . . . . 20,973.15
(I) Excess Interest. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 73,474.08
(J) Reserve Account Balance Prior to Release . . . . . . . . . . . . . . . . . . . . . . . 6,121,325.39
(K) Reserve Account Required Amount. . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,068,824.46
(L) Final Reserve Account Required Amount. . . . . . . . . . . . . . . . . . . . . . . . . 6,068,824.46
(M) Reserve Account Release to Servicer. . . . . . . . . . . . . . . . . . . . . . . . . . 52,500.93
(N) Ending Reserve Account Balance . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,068,824.46
V. NET LOSS AND DELINQUENCY ACCOUNT ACTIVITY
- --------------------------------------------
(A) Aggregate Net Losses before Liquidation Proceeds and Recoveries for Collection Period. $ 20,973.15
(B) Liquidated Contracts
(i) Not Used . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
(ii) Not Used . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
(iii) Recoveries on Previously Liquidated Contracts. . . . . . . . . . . . . . . . . . 14,578.86
(C) Aggregate Net Losses for Collection Period . . . . . . . . . . . . . . . . . . . . . . 6,394.29
(D) Net Loss Ratio for Collection Period (annualized). . . . . . . . . . . . . . . . . . . 0.22%
(E) Cumulative Net Losses for all Periods. . . . . . . . . . . . . . . . . . . . . . . . . 1,938,630.41
</TABLE>
<TABLE>
<CAPTION>
(F) Delinquent Receivables
Dollar Amount # Units
------------- --------
<S> <C> <C> <C> <C>
(i) 30-59 Days Delinquent . . . 878,918 2.59% 226 2.65%
-----
(ii) 60-89 Days Delinquent. . . 145,925 0.43% 43 0.50%
(iii) 90 Days or More Delinquent 119,918 0.35% 27 0.32%
</TABLE>
<TABLE>
<CAPTION>
(G) Repossessions
Dollar Amount # Units
------------- --------
<S> <C> <C> <C> <C>
70,318 0.21% 13 0.15%
</TABLE>
VI. TESTS FOR INCREASE IN SPECIFIED RESERVE ACCOUNT BALANCE
- -------------------------------------------------------------------
<TABLE>
<CAPTION>
<C> <S>
(A) Ratio of Net Losses to the Average Pool Balance
(i) Second Preceding Collection Period 0.51%
(ii) Preceding Collection Period -0.12%
(iii) Current Collection Period 0.22%
(iv) Three Month Average (Avg(i,ii,iii)) 0.20%
(B) Ratio of Balance of Contracts Delinquent 60 Days or More to the Outstanding Balance of Receivables.
(i) Second Preceding Collection Period 0.56%
(ii) Preceding Collection Period 0.66%
(iii) Current Collection Period 0.78%
(iv) Three Month Average (Avg(i,ii,iii)) 0.67%
(C) Loss and Delinquency Trigger Indicator Trigger was not hit
<FN>
The undersigned officers of NationsBank, N.A., as servicer, pursuant to the Sale and Servicing Agreement
hereby certify to the best of their knowledge and belief that the above information is true and correct.
/s/ William Kinyua /s/ Susan R. Faulkner
- -------------------- ------------------------
William Kinyua Susan R. Faulkner
Vice President Senior Vice President
</TABLE>
