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Previous: FIRST BANK CORPORATE CARD MASTER TRUST, 8-K, 1998-03-23 |
Next: CHESTER BANCORP INC, 10-K/A, 1998-03-23 |
<PAGE>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of report (Date of earliest event reported): March 23, 1998.
FIRST BANK CORPORATE CARD MASTER TRUST
(Exact name of registrant as specified in its charter)
United States 000-22781 41-1877237
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
141 North Main Avenue
Sioux Falls, South Dakota 57117
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (605) 339-8600
Not Applicable
(Former name or former address, if changed since last report.)
<PAGE>
ITEM 5. OTHER EVENTS.
Pursuant to the Pooling and Servicing Agreement, dated as of February
1, 1997 (the "Agreement"), among First Bank of South Dakota (National
Association), as Transferor, FBS Card Services, Inc., as Servicer, and
Citibank, N.A., as Trustee on behalf of the Certificateholders of the
First Bank Corporate Card Master Trust, as supplemented by the Series
1997-1 Supplement thereto, dated as of February 27, 1997, the Servicer
has prepared and delivered to the Trustee eleven monthly servicer's
certificates with respect to the Interest Payment Dates between March
17, 1997, and January 15, 1998, which monthly servicer's certificates
are attached hereto as Exhibits 99.1-99.11.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
The following are filed herewith. The exhibit numbers correspond with
Item 601(b) of Regulation S-K.
<TABLE>
<CAPTION>
Exhibit Description of Exhibit
- ------- ----------------------
<S>> <C>
99.1 Monthly Servicer's Certificate dated March 14, 1997
99.2 Monthly Servicer's Certificate dated April 11, 1997
99.3 Monthly Servicer's Certificate dated May 12, 1997
99.4 Monthly Servicer's Certificate dated June 10, 1997
99.5 Monthly Servicer's Certificate dated July 10, 1997
99.6 Monthly Servicer's Certificate dated August 11, 1997
99.7 Monthly Servicer's Certificate dated September 10, 1997
99.8 Monthly Servicer's Certificate dated October 7, 1997
-2-
<PAGE>
99.9 Monthly Servicer's Certificate dated November 10, 1997
99.10 Monthly Servicer's Certificate dated December 9, 1997
99.11 Monthly Servicer's Certificate dated January 12, 1998
</TABLE>
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned, hereto duly authorized.
Date: March 23, 1998.
FIRST BANK CORPORATE CARD MASTER TRUST
By FIRST BANK OF SOUTH DAKOTA (NATIONAL
ASSOCIATION), as Originator
By /s/ David P. Grandstrand
-----------------------------------------
David P. Grandstrand
Senior Vice President and Treasurer
-3-
<PAGE>
EXHIBIT INDEX
<TABLE>
<CAPTION>
Exhibit Description of Exhibit
- ------- ----------------------
<S> <C>
99.1 Monthly Servicer's Certificate dated March 14, 1997
99.2 Monthly Servicer's Certificate dated April 11, 1997
99.3 Monthly Servicer's Certificate dated May 12, 1997
99.4 Monthly Servicer's Certificate dated June 10, 1997
99.5 Monthly Servicer's Certificate dated July 10, 1997
99.6 Monthly Servicer's Certificate dated August 11, 1997
99.7 Monthly Servicer's Certificate dated September 10, 1997
99.8 Monthly Servicer's Certificate dated October 7, 1997
99.9 Monthly Servicer's Certificate dated November 10, 1997
99.10 Monthly Servicer's Certificate dated December 9, 1997
99.11 Monthly Servicer's Certificate dated January 12, 1998
</TABLE>
-4-
<PAGE>
FORM OF SERIES 1997-1 CERTIFICATEHOLDERS' STATEMENT
FIRST BANK OF SOUTH DAKOTA (NATIONAL ASSOCIATION)
-------------------------------------------------
FIRST BANK CORPORATE CARD MASTER TRUST
-------------------------------------------------
The information which is required to be prepared with respect to the
Distribution Date of March 17, 1997 and with respect to the
performance of the Trust during the related Collection Period(s).
Capitalized terms used in this Statement have their respective meanings
set forth in the Pooling and Servicing Agreement.
<TABLE>
<S> <C>
A. INFORMATION REGARDING THE CURRENT DISTRIBUTION (STATED ON THE BASIS OF $1,000 ORIGINAL CERTIFICATE
PRINCIPAL BALANCE)
1. Class A Monthly Principal $ -
2. Class B Monthly Principal $ -
3. Collateral Monthly Principal $ -
4. Class A Monthly Interest $ -
5. Class A Deficiency Amounts $ -
6. Class A Additional Interest $ -
7. Class B Monthly Interest $ -
8. Class B Deficiency Amounts $ -
9. Class B Additional Interest $ -
10. Collateral Monthly Interest $ 2.86
11. Accrued and unpaid Collateral Monthly Interest $ -
B. INFORMATION REGARDING THE PERFORMANCE OF THE TRUST
1. Principal Collections
(a) Principal Collections allocated to the Class A Certificates $ 285,210,186.21
(b) Principal Collections allocated to the Class B Certificates $ 4,551,226.38
(c) Principal Collections allocated to the Collateral Investor Interest $ 13,653,679.13
2. Trust Principal Component
(a) Trust Principal Component as of the end of the related Collection Period(s) $ 508,411,885.07
(b) Series 1997-1 Invested Amount as of the end of the related Transfer Date(s) $ 420,000,000.00
(c) Series 1997-1 Adjusted Invested Amount as of the end of the related Transfer Date(s) $ 420,000,000.00
(d) Class A Invested Amount as of the end of the related Transfer Date(s) $ 394,800,000.00
(e) Class A Adjusted Invested Amount as of the end of the related Transfer Date(s) $ 394,800,000.00
(f) Class B Invested Amount as of the end of the related Transfer Date(s) $ 6,300,000.00
(g) Collateral Invested Amount as of the end of the related Transfer Date(s) $ 18,900,000.00
<PAGE>
(h) Floating Allocation Percentage with respect to the related Collection Period(s) 95.19%
(i) Class A Floating Percentage with respect to the related Collection Period(s) 89.47%
(j) Class B Floating Percentage with respect to the related Collection Period(s) 1.43%
(k) Collateral Floating Percentage with respect to the related Collection Period(s) 4.28%
(l) Fixed Allocation Percentage with respect to the related Collection Period(s) N/A
(m) Class A Fixed Percentage with respect to the related Collection Period(s) N/A
(n) Class B Fixed Percentage with respect to the related Collection Period(s) N/A
(o) Collateral Fixed Percentage with respect to the related Collection Period(s) N/A
3. Delinquent Balances
The aggregate amount of outstanding balances in the Accounts which were delinquent
as of the end of the day on the last day of the related Collection Period(s):
</TABLE>
<TABLE>
<CAPTION>
Aggregate Account
Balance
-----------------
<S> <C>
(a) 30-59 days: $ 2,741,405.08
(b) 60-89 days: $ 736,696.21
(c) 90-119 days: $ 332,659.03
(d) 120-149 days: $ -
Total: $ 3,810,760.32
</TABLE>
<TABLE>
<CAPTION>
Percentage of
Total Receivables
-----------------
<S> <C>
(a) 30-59 days: 0.53%
(b) 60-89 days: 0.14%
(c) 90-119 days: 0.06%
(d) 120-149 days: 0.00%
Total: 0.73%
</TABLE>
<TABLE>
<S> <C>
4. Investor Default Amount
(a) Investor Default Amount for the related Collection Period(s) $ 17,527.52
(b) Class A Investor Default Amount for the related Collection Period(s) $ 16,475.87
(c) Class B Investor Default Amount for the related Collection Period(s) $ 262.91
(d) Collateral Investor Default Amount for the related Collection Period(s) $ 788.74
<PAGE>
5. Investor Charge-Offs
(a) Aggregate Class A Investor Charge-Offs for the related Collection Period(s) $ -
(b) Class A Charge-Offs per $1,000 of original Certificate Principal Balance $ -
(c) Aggregate Class B Investor Charge-Offs for the related Collection Period(s) $ -
(d) Class B Charge-Offs per $1,000 of original Certificate Principal Balance $ -
(e) Aggregate Collateral Investor Charge-Offs for the related Collection Period(s) $ -
(f) Collateral Charge-Offs per $1,000 of original Certificate Principal Balance $ -
(g) Aggregate Class A Investor Charge-Offs reimbursed on the related Transfer Date(s) $ -
(h) Class A Investor Charge-Offs reimbursed per $1,000 of original Certificate Principal Balance $ -
(i) Aggregate Class B Investor Charge-Offs reimbursed on the related Transfer Date(s) $ -
(j) Class B Investor Charge-Offs reimbursed per $1,000 of original Certificate Principal Balance $ -
(k) Aggregate Collateral Investor Charge-Offs reimbursed on the related Transfer Date(s) $ -
(l) Collateral Investor Charge-Offs reimbursed per $1,000 of original Certificate Principal Balance $ -
6. Monthly Investor Servicing Fee
(a) Class A Servicing Fee payable for the related Collection Period(s) $ 175,466.67
(b) Class B Servicing Fee payable for the related Collection Period(s) $ 2,800.00
(c) Collateral Servicing Fee payable for the related Collection Period(s) $ 8,400.00
7. Reallocations
(a) Reallocated Collateral Principal Collections with respect to the related Collection Period(s) $ -
(b) Reallocated Class B Principal Collections with respect to the related Collection Period(s) $ -
(c) Collateral Invested Amount as of this Distribution Date $ 18,900,000.00
(d) Class B Invested Amount as of this Distribution Date $ 6,300,000.00
<PAGE>
8. Yield Collections and Net Interchange
(a) Aggregate Yield Collections (including Net Interchange) processed during the related
Collection Period allocated in respect of the Class A Investor Certificate $ 11,875,954.13
(b) Aggregate Yield Collections (including Net Interchange) processed during the related
Collection Period allocated in respect of the Class B Investor Certificate $ 189,509.91
(c) Aggregate Yield Collections (including Net Interchange) processed during the related
Collection Period allocated in respect of the Collateral Investor Certificate $ 568,529.72
9. Principal Funding Amount
(a) Principal amount in Principal Funding Account on the related Transfer Date $ -
(b) Deficit Controlled Accumulation Amount with respect to the related Collection Period(s) $ -
(c) Principal Funding Investment Proceeds deposited in the Collection Account on the related
Transfer Date(s) $ -
(d) Reserve Draw Amount deposited in the Collection Account on the related Transfer Date(s) from
the Reserve Account $ -
10. Reserve Draw Amount on the related Transfer Date(s) $ -
11. Overconcentration Draw Amount on the related Transfer Date(s) $ -
12. Available Funds
(a) Class A Available Funds on deposit in the Collection Account on the related Transfer Date(s) $ 11,708,935.52
(a) Class B Available Funds on deposit in the Collection Account on the related Transfer Date(s) $ 186,844.72
(a) Collateral Available Funds on deposit in the Collection Account on the related Transfer Date(s) $ 560,534.15
13. Portfolio Yield and Base Rate
(a) Portfolio Yield for the related Collection Period 17.64%
(b) Base Rate for the related Collection Period 4.36%
14. Monthly Payment Rate
15. Principal Payment Rate
16. Gross Losses as a Percentage of Charge Volume & Fees
17. Minimum Transferor's Percentage 12.00%
</TABLE>
FBS Card Services, Inc.
Servicer
By:/s/ Donald C. Jacobson
----------------------
Name: Donald C. Jacobson
Title: Vice President
<PAGE>
SCHEDULE TO MONTHLY SERVICER'S CERTIFICATE
COLLECTION PERIOD ENDING FEBRUARY 28, 1997
FIRST BANK OF SOUTH DAKOTA (NATIONAL ASSOCIATION)
FIRST BANK CORPORATE CARD MASTER TRUST SERIES 1997-1
<TABLE>
<CAPTION>
<S> <C>
1. Investor Percentage of Principal Collections $ 303,415,091.72
2. Investor Percentage of Yield Collections (ex. Net Interchange) $ 6,192,144.73
3. Investor Percentage of Net Interchange $ 6,441,849.03
4. Servicer Interchange $ 186,666.67
5. The aggregate amount of funds on deposit in Collection Account allocable to Series 1997-1 Certificates $ 332,035,321.07
6. Funds in Principal Funding Account allocable to Series 1997-1 Certificates $ -
7. Aggregate amount paid in accordance with the Loan Agreement pursuant to Section 4.11 $ 54,101.25
8. Required Collateral Invested Amount over the Collateral Invested Amount $ -
9. Collateral Invested Amount $ 18,900,000.00
10. The amount of Monthly Interest, Deficiency Amounts and Additional Interest payable to the
(i) Class A Certificateholders $ -
(ii) Class B Certificateholders $ -
(iii) Collateral Interest Holder $ 54,101.25
11. The amount of principal payable to the
(i) Class A Certificateholders $ -
(ii) Class B Certificateholders $ -
(iii) Collateral Interest Holder $ -
12. The sum of all amounts payable to the
(i) Class A Certificateholders $ -
(ii) Class B Certificateholders $ -
(iii) Collateral Interest Holder $ 54,101.25
13. To the knowledge of the undersigned, no Early Amortization Event has occurred except as described below:
None
</TABLE>
In witness whereof, the undersigned has duly executed this certificate this 14th
day of March, 1997.
FBS Card Services, Inc.
Servicer
By:/s/ Donald C. Jacobson
----------------------
Name: Donald C. Jacobson
Title: Vice President
<PAGE>
FORM OF SERIES 1997-1 CERTIFICATEHOLDERS' STATEMENT
FIRST BANK OF SOUTH DAKOTA (NATIONAL ASSOCIATION)
----------------------------------------------------
FIRST BANK CORPORATE CARD MASTER TRUST
----------------------------------------------------
The information which is required to be prepared with respect to the
Distribution Date of April 15, 1997 and with respect to the performance of
the Trust during the related Collection Period(s).
Capitalized terms used in this Statement have their respective meanings set
forth in the Pooling and Servicing Agreement.
<TABLE>
<S> <C>
A. INFORMATION REGARDING THE CURRENT DISTRIBUTION (STATED ON THE BASIS OF $1,000 ORIGINAL CERTIFICATE
PRINCIPAL BALANCE)
1. Class A Monthly Principal $ -
2. Class B Monthly Principal $ -
3. Collateral Monthly Principal $ -
4. Class A Monthly Interest $ -
5. Class A Deficiency Amounts $ -
6. Class A Additional Interest $ -
7. Class B Monthly Interest $ -
8. Class B Deficiency Amounts $ -
9. Class B Additional Interest $ -
10. Collateral Monthly Interest $ 4.66
11. Accrued and unpaid Collateral Monthly Interest $ -
B. INFORMATION REGARDING THE PERFORMANCE OF THE TRUST
1. Principal Collections
(a) Principal Collections allocated to the Class A Certificates $ 321,138,356.71
(b) Principal Collections allocated to the Class B Certificates $ 5,124,548.25
(c) Principal Collections allocated to the Collateral Investor Interest $ 15,373,644.74
2. Trust Principal Component
(a) Trust Principal Component as of the end of the related Collection Period(s) $ 535,841,078.42
(b) Series 1997-1 Invested Amount as of the end of the related Transfer Date(s) $ 420,000,000.00
(c) Series 1997-1 Adjusted Invested Amount as of the end of the related Transfer Date(s) $ 420,000,000.00
(d) Class A Invested Amount as of the end of the related Transfer Date(s) $ 394,800,000.00
(e) Class A Adjusted Invested Amount as of the end of the related Transfer Date(s) $ 394,800,000.00
(f) Class B Invested Amount as of the end of the related Transfer Date(s) $ 6,300,000.00
(g) Collateral Invested Amount as of the end of the related Transfer Date(s) $ 18,900,000.00
<PAGE>
(h) Floating Allocation Percentage with respect to the related Collection Period(s) 82.61%
(i) Class A Floating Percentage with respect to the related Collection Period(s) 77.65%
(j) Class B Floating Percentage with respect to the related Collection Period(s) 1.24%
(k) Collateral Floating Percentage with respect to the related Collection Period(s) 3.72%
(l) Fixed Allocation Percentage with respect to the related Collection Period(s) N/A
(m) Class A Fixed Percentage with respect to the related Collection Period(s) N/A
(n) Class B Fixed Percentage with respect to the related Collection Period(s) N/A
(o) Collateral Fixed Percentage with respect to the related Collection Period(s) N/A
3. Delinquent Balances
The aggregate amount of outstanding balances in the Accounts which were
delinquent as of the end of the day on the last day of the related Collection Period(s):
</TABLE>
<TABLE>
<CAPTION>
Aggregate Account
Balance
------------------
<S> <C>
(a) 30-59 days: $ 3,230,230.61
(b) 60-89 days: $ 821,884.47
(c) 90-119 days: $ 386,571.82
(d) 120-149 days: $ -
Total: $ 4,438,686.90
</TABLE>
<TABLE>
<CAPTION>
Percentage of
Total Receivables
------------------
<S> <C>
(a) 30-59 days: 0.59%
(b) 60-89 days: 0.15%
(c) 90-119 days: 0.07%
(d) 120-149 days: 0.00%
Total: 0.81%
</TABLE>
<TABLE>
<S> <C>
4. Investor Default Amount
(a) Investor Default Amount for the related Collection Period(s) $ 135,862.43
(b) Class A Investor Default Amount for the related Collection Period(s) $ 127,710.68
(c) Class B Investor Default Amount for the related Collection Period(s) $ 2,037.94
(d) Collateral Investor Default Amount for the related Collection Period(s) $ 6,113.81
<PAGE>
5. Investor Charge-Offs
(a) Aggregate Class A Investor Charge-Offs for the related Collection Period(s) $ -
(b) Class A Charge-Offs per $1,000 of original Certificate Principal Balance $ -
(c) Aggregate Class B Investor Charge-Offs for the related Collection Period(s) $ -
(d) Class B Charge-Offs per $1,000 of original Certificate Principal Balance $ -
(e) Aggregate Collateral Investor Charge-Offs for the related Collection Period(s) $ -
(f) Collateral Charge-Offs per $1,000 of original Certificate Principal Balance $ -
(g) Aggregate Class A Investor Charge-Offs reimbursed on the related Transfer Date(s) $ -
(h) Class A Investor Charge-Offs reimbursed per $1,000 of original Certificate Principal Balance $ -
(i) Aggregate Class B Investor Charge-Offs reimbursed on the related Transfer Date(s) $ -
(j) Class B Investor Charge-Offs reimbursed per $1,000 of original Certificate Principal Balance $ -
(k) Aggregate Collateral Investor Charge-Offs reimbursed on the related Transfer Date(s) $ -
(l) Collateral Investor Charge-Offs reimbursed per $1,000 of original Certificate Principal Balance $ -
6. Monthly Investor Servicing Fee
(a) Class A Servicing Fee payable for the related Collection Period(s) $ 329,000.00
(b) Class B Servicing Fee payable for the related Collection Period(s) $ 5,250.00
(c) Collateral Servicing Fee payable for the related Collection Period(s) $ 15,750.00
7. Reallocations
(a) Reallocated Collateral Principal Collections with respect to the related Collection Period(s) $ -
(b) Reallocated Class B Principal Collections with respect to the related Collection Period(s) $ -
(c) Collateral Invested Amount as of this Distribution Date $ 18,900,000.00
(d) Class B Invested Amount as of this Distribution Date $ 6,300,000.00
<PAGE>
8. Yield Collections and Net Interchange
(a) Aggregate Yield Collections (including Net Interchange) processed during the related
Collection Period allocated in respect of the Class A Investor Certificate $ 12,503,495.22
(b) Aggregate Yield Collections (including Net Interchange) processed during the related
Collection Period allocated in respect of the Class B Investor Certificate $ 199,523.86
(c) Aggregate Yield Collections (including Net Interchange) processed during the related
Collection Period allocated in respect of the Collateral Investor Certificate $ 598,571.58
9. Principal Funding Amount
(a) Principal amount in Principal Funding Account on the related Transfer Date $ -
(b) Deficit Controlled Accumulation Amount with respect to the related Collection Period(s) $ -
(c) Principal Funding Investment Proceeds deposited in the Collection Account on the related
Transfer Date(s) $ -
(d) Reserve Draw Amount deposited in the Collection Account on the related Transfer Date(s) from the
Reserve Account $ -
10. Reserve Draw Amount on the related Transfer Date(s) $ -
11. Overconcentration Draw Amount on the related Transfer Date(s) $ -
12. Available Funds
(a) Class A Available Funds on deposit in the Collection Account on the related Transfer Date(s) $ 12,231,707.71
(a) Class B Available Funds on deposit in the Collection Account on the related Transfer Date(s) $ 195,186.83
(a) Collateral Available Funds on deposit in the Collection Account on the related Transfer Date(s) $ 585,560.48
13. Portfolio Yield and Base Rate
(a) Portfolio Yield for the related Collection Period 19.53%
(b) Base Rate for the related Collection Period 7.37%
14. Monthly Payment Rate 81.34%
15. Principal Payment Rate 81.34%
16. Gross Losses as a Percentage of Charge Volume & Fees 0.33%
17. Minimum Transferor's Percentage 14.00%
</TABLE>
FBS Card Services, Inc.
Servicer
By:/s/ Donald C. Jacobson
----------------------
Name: Donald C. Jacobson
Title: Vice President
<PAGE>
SCHEDULE TO MONTHLY SERVICER'S CERTIFICATE
COLLECTION PERIOD ENDING MARCH 31, 1997
FIRST BANK OF SOUTH DAKOTA (NATIONAL ASSOCIATION)
FIRST BANK CORPORATE CARD MASTER TRUST SERIES 1997-1
<TABLE>
<S> <C>
1. Investor Percentage of Principal Collections $ 341,636,549.69
2. Investor Percentage of Yield Collections (ex. Net Interchange) $ 6,972,174.48
3. Investor Percentage of Net Interchange $ 6,329,416.18
4. Servicer Interchange $ 350,000.00
5. The aggregate amount of funds on deposit in Collection Account allocable to Series 1997-1 Certificates $ 429,654,211.95
6. Funds in Principal Funding Account allocable to Series 1997-1 Certificates $ -
7. Aggregate amount paid in accordance with the Loan Agreement pursuant to Section 4.11 $ 88,114.69
8. Required Collateral Invested Amount over the Collateral Invested Amount $ -
9. Collateral Invested Amount $ 18,900,000.00
10. The amount of Monthly Interest, Deficiency Amounts and Additional Interest payable to the
(i) Class A Certificateholders $ -
(ii) Class B Certificateholders $ -
(iii) Collateral Interest Holder $ 88,114.69
11. The amount of principal payable to the
(i) Class A Certificateholders $ -
(ii) Class B Certificateholders $ -
(iii) Collateral Interest Holder $ -
12. The sum of all amounts payable to the
(i) Class A Certificateholders $ -
(ii) Class B Certificateholders $ -
(iii) Collateral Interest Holder $ 88,114.69
13. To the knowledge of the undersigned, no Early Amortization Event has
occurred except as described below:
None
</TABLE>
In witness whereof, the undersigned has duly executed this certificate
this 11th day of April, 1997.
FBS Card Services, Inc.
Servicer
By:/s/ Donald C. Jacobson
----------------------
Name: Donald C. Jacobson
Title: Vice President
<PAGE>
FORM OF SERIES 1997-1 CERTIFICATEHOLDERS' STATEMENT
FIRST BANK OF SOUTH DAKOTA (NATIONAL ASSOCIATION)
-------------------------------------------------
FIRST BANK CORPORATE CARD MASTER TRUST
-------------------------------------------------
The information which is required to be prepared with respect to the
Distribution Date of May 15, 1997 and with respect to the performance of
the Trust during the related Collection Period(s).
Capitalized terms used in this Statement have their respective meanings
set forth in the Pooling and Servicing Agreement.
<TABLE>
<S> <C>
A. INFORMATION REGARDING THE CURRENT DISTRIBUTION (STATED ON THE BASIS OF $1,000 ORIGINAL
CERTIFICATE PRINCIPAL BALANCE)
1. Class A Monthly Principal $ -
2. Class B Monthly Principal $ -
3. Collateral Monthly Principal $ -
4. Class A Monthly Interest $ -
5. Class A Deficiency Amounts $ -
6. Class A Additional Interest $ -
7. Class B Monthly Interest $ -
8. Class B Deficiency Amounts $ -
9. Class B Additional Interest $ -
10. Collateral Monthly Interest $ 5.03
11. Accrued and unpaid Collateral Monthly Interest
$ -
B. INFORMATION REGARDING THE PERFORMANCE OF THE TRUST
1. Principal Collections
(a) Principal Collections allocated to the Class A Certificates $ 306,944,348.03
(b) Principal Collections allocated to the Class B Certificates $ 4,898,048.11
(c) Principal Collections allocated to the Collateral Investor Interest $ 14,694,144.32
2. Trust Principal Component
(a) Trust Principal Component as of the end of the related Collection Period(s) $ 533,660,706.16
(b) Series 1997-1 Invested Amount as of the end of the related Transfer Date(s) $ 420,000,000.00
(c) Series 1997-1 Adjusted Invested Amount as of the end of the related Transfer Date(s) $ 420,000,000.00
(d) Class A Invested Amount as of the end of the related Transfer Date(s) $ 394,800,000.00
(e) Class A Adjusted Invested Amount as of the end of the related Transfer Date(s) $ 394,800,000.00
(f) Class B Invested Amount as of the end of the related Transfer Date(s) $ 6,300,000.00
(g) Collateral Invested Amount as of the end of the related Transfer Date(s) $ 18,900,000.00
<PAGE>
(h) Floating Allocation Percentage with respect to the related Collection Period(s) 78.38%
(i) Class A Floating Percentage with respect to the related Collection Period(s) 73.68%
(j) Class B Floating Percentage with respect to the related Collection Period(s) 1.18%
(k) Collateral Floating Percentage with respect to the related Collection Period(s) 3.53%
(l) Fixed Allocation Percentage with respect to the related Collection Period(s) N/A
(m) Class A Fixed Percentage with respect to the related Collection Period(s) N/A
(n) Class B Fixed Percentage with respect to the related Collection Period(s) N/A
(o) Collateral Fixed Percentage with respect to the related Collection Period(s) N/A
3. Delinquent Balances
The aggregate amount of outstanding balances in the Accounts which were delinquent
as of the end of the day on the last day of the related Collection Period(s):
</TABLE>
<TABLE>
<CAPTION>
Aggregate Account
Balance
------------------
<S> <C>
(a) 30-59 days: $ 1,935,208.09
(b) 60-89 days: $ 936,150.41
(c) 90-119 days: $ 364,172.04
(d) 120-149 days: $ 2,809.76
Total: $ 3,238,340.30
</TABLE>
<TABLE>
<CAPTION>
Percentage of
Total Receivables
------------------
<S> <C>
(a) 30-59 days: 0.36%
(b) 60-89 days: 0.17%
(c) 90-119 days: 0.07%
(d) 120-149 days: 0.00%
Total: 0.59%
</TABLE>
<TABLE>
<S> <C>
4. Investor Default Amount
(a) Investor Default Amount for the related Collection Period(s) $ 156,771.53
(b) Class A Investor Default Amount for the related Collection Period(s) $ 147,365.24
(c) Class B Investor Default Amount for the related Collection Period(s) $ 2,351.57
(d) Collateral Investor Default Amount for the related Collection Period(s) $ 7,054.72
<PAGE>
5. Investor Charge-Offs
(a) Aggregate Class A Investor Charge-Offs for the related Collection Period(s) $ -
(b) Class A Charge-Offs per $1,000 of original Certificate Principal Balance $ -
(c) Aggregate Class B Investor Charge-Offs for the related Collection Period(s) $ -
(d) Class B Charge-Offs per $1,000 of original Certificate Principal Balance $ -
(e) Aggregate Collateral Investor Charge-Offs for the related Collection Period(s) $ -
(f) Collateral Charge-Offs per $1,000 of original Certificate Principal Balance $ -
(g) Aggregate Class A Investor Charge-Offs reimbursed on the related Transfer Date(s) $ -
(h) Class A Investor Charge-Offs reimbursed per $1,000 of original Certificate Principal Balance $ -
(i) Aggregate Class B Investor Charge-Offs reimbursed on the related Transfer Date(s) $ -
(j) Class B Investor Charge-Offs reimbursed per $1,000 of original Certificate Principal Balance $ -
(k) Aggregate Collateral Investor Charge-Offs reimbursed on the related Transfer Date(s) $ -
(l) Collateral Investor Charge-Offs reimbursed per $1,000 of original Certificate Principal Balance $ -
6. Monthly Investor Servicing Fee
(a) Class A Servicing Fee payable for the related Collection Period(s) $ 329,000.00
(b) Class B Servicing Fee payable for the related Collection Period(s) $ 5,250.00
(c) Collateral Servicing Fee payable for the related Collection Period(s) $ 15,750.00
7. Reallocations
(a) Reallocated Collateral Principal Collections with respect to the related Collection Period(s) $ -
(b) Reallocated Class B Principal Collections with respect to the related Collection Period(s) $ -
(c) Collateral Invested Amount as of this Distribution Date $ 18,900,000.00
(d) Class B Invested Amount as of this Distribution Date $ 6,300,000.00
<PAGE>
8. Yield Collections and Net Interchange
(a) Aggregate Yield Collections (including Net Interchange) processed during the related Collection
Period allocated in respect of the Class A Investor Certificate $ 11,559,788.36
(b) Aggregate Yield Collections (including Net Interchange) processed during the related Collection
Period allocated in respect of the Class B Investor Certificate $ 184,464.71
(c) Aggregate Yield Collections (including Net Interchange) processed during the related Collection
Period allocated in respect of the Collateral Investor Certificate $ 553,394.12
9. Principal Funding Amount
(a) Principal amount in Principal Funding Account on the related Transfer Date $ -
(b) Deficit Controlled Accumulation Amount with respect to the related Collection Period(s) $ -
(c) Principal Funding Investment Proceeds deposited in the Collection Account on the related
Transfer Date(s) $ -
(d) Reserve Draw Amount deposited in the Collection Account on the related Transfer Date(s)
from the Reserve Account $ -
10. Reserve Draw Amount on the related Transfer Date(s) $ -
11. Overconcentration Draw Amount on the related Transfer Date(s) $ -
12. Available Funds
(a) Class A Available Funds on deposit in the Collection Account on the related Transfer Date(s) $ 11,301,913.39
(a) Class B Available Funds on deposit in the Collection Account on the related Transfer Date(s) $ 180,349.68
(a) Collateral Available Funds on deposit in the Collection Account on the related Transfer Date(s) $ 541,049.05
13. Portfolio Yield and Base Rate
(a) Portfolio Yield for the related Collection Period 18.59%
(b) Base Rate for the related Collection Period 7.39%
14. Monthly Payment Rate 77.75%
15. Principal Payment Rate 77.75%
16. Gross Losses as a Percentage of Charge Volume & Fees 0.41%
17. Minimum Transferor's Percentage 12.00%
</TABLE>
FBS Card Services, Inc.
Servicer
By:/s/ Donald C. Jacobson
----------------------
Name: Donald C. Jacobson
Title: Vice President
<PAGE>
SCHEDULE TO MONTHLY SERVICER'S CERTIFICATE
COLLECTION PERIOD ENDING APRIL 30, 1997
FIRST BANK OF SOUTH DAKOTA (NATIONAL ASSOCIATION)
FIRST BANK CORPORATE CARD MASTER TRUST SERIES 1997-1
<TABLE>
<S> <C>
1. Investor Percentage of Principal Collections $ 326,536,540.46
2. Investor Percentage of Yield Collections (ex. Net Interchange) $ 6,664,011.03
3. Investor Percentage of Net Interchange $ 5,633,636.16
4. Servicer Interchange $ 350,000.00
5. The aggregate amount of funds on deposit in Collection Account allocable to Series 1997-1 Certificates $ 432,288,753.60
6. Funds in Principal Funding Account allocable to Series 1997-1 Certificates $ -
7. Aggregate amount paid in accordance with the Loan Agreement pursuant to Section 4.11 $ 95,090.63
8. Required Collateral Invested Amount over the Collateral Invested Amount $ -
9. Collateral Invested Amount $ 18,900,000.00
10. The amount of Monthly Interest, Deficiency Amounts and Additional Interest payable to the
(i) Class A Certificateholders $ -
(ii) Class B Certificateholders $ -
(iii) Collateral Interest Holder $ 95,090.63
11. The amount of principal payable to the
(i) Class A Certificateholders $ -
(ii) Class B Certificateholders $ -
(iii) Collateral Interest Holder $ -
12. The sum of all amounts payable to the
(i) Class A Certificateholders $ -
(ii) Class B Certificateholders $ -
(iii) Collateral Interest Holder $ 95,090.63
13. To the knowledge of the undersigned, no Early Amortization Event has occurred except
as described below:
None
</TABLE>
In witness whereof, the undersigned has duly executed this certificate this 12th
day of May, 1997.
FBS Card Services, Inc.
Servicer
By:/s/ Donald C. Jacobson
----------------------
Name: Donald C. Jacobson
Title: Vice President
<PAGE>
FORM OF SERIES 1997-1 CERTIFICATEHOLDERS' STATEMENT
FIRST BANK OF SOUTH DAKOTA (NATIONAL ASSOCIATION)
-------------------------------------------------
FIRST BANK CORPORATE CARD MASTER TRUST
-------------------------------------------------
The information which is required to be prepared with respect to the
Distribution Date of June 16, 1997 and with respect to the performance
of the Trust during the related Collection Period(s).
Capitalized terms used in this Statement have their respective meanings
set forth in the Pooling and Servicing Agreement.
<TABLE>
<S> <C>
Transfer Date Jun-13-97
Distribution Date Jun-16-97
A. INFORMATION REGARDING THE CURRENT DISTRIBUTION (STATED ON THE BASIS OF $1,000 ORIGINAL
CERTIFICATE PRINCIPAL BALANCE)
1. Class A Monthly Principal $ -
2. Class B Monthly Principal $ -
3. Collateral Monthly Principal $ -
4. Class A Monthly Interest $ -
5. Class A Deficiency Amounts $ -
6. Class A Additional Interest $ -
7. Class B Monthly Interest $ -
8. Class B Deficiency Amounts $ -
9. Class B Additional Interest $ -
10. Collateral Monthly Interest $ 5.37
11. Accrued and unpaid Collateral Monthly Interest
$ -
B. INFORMATION REGARDING THE PERFORMANCE OF THE TRUST
1. Principal Collections
(a) Principal Collections allocated to the Class A Certificates $ 309,531,907.93
(b) Principal Collections allocated to the Class B Certificates $ 4,939,338.96
(c) Principal Collections allocated to the Collateral Investor Interest $ 14,818,016.87
2. Trust Principal Component
(a) Trust Principal Component as of the end of the related Collection Period(s) $ 526,606,778.11
(b) Series 1997-1 Invested Amount as of the end of the related Transfer Date(s) $ 420,000,000.00
(c) Series 1997-1 Adjusted Invested Amount as of the end of the related Transfer Date(s) $ 420,000,000.00
(d) Class A Invested Amount as of the end of the related Transfer Date(s) $ 394,800,000.00
(e) Class A Adjusted Invested Amount as of the end of the related Transfer Date(s) $ 394,800,000.00
(f) Class B Invested Amount as of the end of the related Transfer Date(s) $ 6,300,000.00
<PAGE>
Transfer Date Jun-13-97
Distribution Date Jun-16-97
(g) Collateral Invested Amount as of the end of the related Transfer Date(s) $ 18,900,000.00
(h) Floating Allocation Percentage with respect to the related Collection Period(s) 78.70%
(i) Class A Floating Percentage with respect to the related Collection Period(s) 73.98%
(j) Class B Floating Percentage with respect to the related Collection Period(s) 1.18%
(k) Collateral Floating Percentage with respect to the related Collection Period(s) 3.54%
(l) Fixed Allocation Percentage with respect to the related Collection Period(s) N/A
(m) Class A Fixed Percentage with respect to the related Collection Period(s) N/A
(n) Class B Fixed Percentage with respect to the related Collection Period(s) N/A
(o) Collateral Fixed Percentage with respect to the related Collection Period(s) N/A
3. Delinquent Balances
The aggregate amount of outstanding balances in the Accounts which were delinquent
as of the end of the day on the last day of the related Collection Period(s):
</TABLE>
<TABLE>
<CAPTION>
Aggregate Account
Balance
------------------
<S> <C>
(a) 30-59 days: $ 2,220,805.22
(b) 60-89 days: $ 700,649.43
(c) 90-119 days: $ 532,223.28
(d) 120-149 days: $ 488.22
Total: $ 3,454,166.15
</TABLE>
<TABLE>
<CAPTION>
Percentage of
Total Receivables
------------------
<S> <C>
(a) 30-59 days: 0.41%
(b) 60-89 days: 0.13%
(c) 90-119 days: 0.10%
(d) 120-149 days: 0.00%
Total: 0.64%
</TABLE>
<TABLE>
<S> <C>
4. Investor Default Amount
(a) Investor Default Amount for the related Collection Period(s) $ 161,538.32
(b) Class A Investor Default Amount for the related Collection Period(s) $ 151,846.02
(c) Class B Investor Default Amount for the related Collection Period(s) $ 2,423.07
(d) Collateral Investor Default Amount for the related Collection Period(s) $ 7,269.22
<PAGE>
Transfer Date Jun-13-97
Distribution Date Jun-16-97
5. Investor Charge-Offs
(a) Aggregate Class A Investor Charge-Offs for the related Collection Period(s) $ -
(b) Class A Charge-Offs per $1,000 of original Certificate Principal Balance $ -
(c) Aggregate Class B Investor Charge-Offs for the related Collection Period(s) $ -
(d) Class B Charge-Offs per $1,000 of original Certificate Principal Balance $ -
(e) Aggregate Collateral Investor Charge-Offs for the related Collection Period(s) $ -
(f) Collateral Charge-Offs per $1,000 of original Certificate Principal Balance $ -
(g) Aggregate Class A Investor Charge-Offs reimbursed on the related Transfer Date(s) $ -
(h) Class A Investor Charge-Offs reimbursed per $1,000 of original Certificate Principal Balance $ -
(i) Aggregate Class B Investor Charge-Offs reimbursed on the related Transfer Date(s) $ -
(j) Class B Investor Charge-Offs reimbursed per $1,000 of original Certificate Principal Balance $ -
(k) Aggregate Collateral Investor Charge-Offs reimbursed on the related Transfer Date(s) $ -
(l) Collateral Investor Charge-Offs reimbursed per $1,000 of original Certificate Principal Balance $ -
6. Monthly Investor Servicing Fee
(a) Class A Servicing Fee payable for the related Collection Period(s) $ 329,000.00
(b) Class B Servicing Fee payable for the related Collection Period(s) $ 5,250.00
(c) Collateral Servicing Fee payable for the related Collection Period(s) $ 15,750.00
7. Reallocations
(a) Reallocated Collateral Principal Collections with respect to the related Collection Period(s) $ -
(b) Reallocated Class B Principal Collections with respect to the related Collection Period(s) $ -
(c) Collateral Invested Amount as of this Distribution Date $ 18,900,000.00
(d) Class B Invested Amount as of this Distribution Date $ 6,300,000.00
<PAGE>
Transfer Date Jun-13-97
Distribution Date Jun-16-97
8. Yield Collections and Net Interchange
(a) Aggregate Yield Collections (including Net Interchange) processed during the related
Collection Period allocated in respect of the Class A Investor Certificate $ 11,602,823.77
(b) Aggregate Yield Collections (including Net Interchange) processed during the related
Collection Period allocated in respect of the Class B Investor Certificate $ 185,151.44
(c) Aggregate Yield Collections (including Net Interchange) processed during the related
Collection Period allocated in respect of the Collateral Investor Certificate $ 555,454.33
9. Principal Funding Amount
(a) Principal amount in Principal Funding Account on the related Transfer Date $ -
(b) Deficit Controlled Accumulation Amount with respect to the related Collection Period(s) $ -
(c) Principal Funding Investment Proceeds deposited in the Collection Account on the
related Transfer Date(s) $ -
(d) Reserve Draw Amount deposited in the Collection Account on the related Transfer Date(s)
from the Reserve Account $ -
10. Reserve Draw Amount on the related Transfer Date(s) $ -
11. Overconcentration Draw Amount on the related Transfer Date(s) $ -
12. Available Funds
(a) Class A Available Funds on deposit in the Collection Account on the related Transfer Date(s) $ 11,343,895.21
(a) Class B Available Funds on deposit in the Collection Account on the related Transfer Date(s) $ 181,019.60
(a) Collateral Available Funds on deposit in the Collection Account on the related Transfer Date(s) $ 543,058.81
13. Portfolio Yield and Base Rate
(a) Portfolio Yield for the related Collection Period 18.74%
(b) Base Rate for the related Collection Period 7.40%
14. Monthly Payment Rate 78.40%
15. Principal Payment Rate 78.40%
16. Gross Losses as a Percentage of Charge Volume & Fees 0.43%
17. Minimum Transferor's Percentage 12.00%
</TABLE>
FBS Card Services, Inc.
Servicer
By:/s/ Donald C. Jacobson
----------------------
Name: Donald C. Jacobson
Title: Vice President
<PAGE>
SCHEDULE TO MONTHLY SERVICER'S CERTIFICATE
COLLECTION PERIOD ENDING MAY 31, 1997
FIRST BANK OF SOUTH DAKOTA (NATIONAL ASSOCIATION)
FIRST BANK CORPORATE CARD MASTER TRUST SERIES 1997-1
<TABLE>
<S> <C>
1. Investor Percentage of Principal Collections $ 329,289,263.76
2. Investor Percentage of Yield Collections (ex. Net Interchange) $ 6,720,189.06
3. Investor Percentage of Net Interchange $ 5,623,240.49
4. Servicer Interchange $ 350,000.00
5. The aggregate amount of funds on deposit in Collection Account allocable to Series
1997-1 Certificates $ 434,085,581.80
6. Funds in Principal Funding Account allocable to Series 1997-1 Certificates $ -
7. Aggregate amount paid in accordance with the Loan Agreement pursuant to Section 4.11 $ 101,430.00
8. Required Collateral Invested Amount over the Collateral Invested Amount $ -
9. Collateral Invested Amount $ 18,900,000.00
10. The amount of Monthly Interest, Deficiency Amounts and Additional Interest payable to the
(i) Class A Certificateholders $ -
(ii) Class B Certificateholders $ -
(iii) Collateral Interest Holder $ 101,430.00
11. The amount of principal payable to the
(i) Class A Certificateholders $ -
(ii) Class B Certificateholders $ -
(iii) Collateral Interest Holder $ -
12. The sum of all amounts payable to the
(i) Class A Certificateholders $ -
(ii) Class B Certificateholders $ -
(iii) Collateral Interest Holder $ 101,430.00
13. To the knowledge of the undersigned, no Early Amortization Event has
occurred except as described below:
None
</TABLE>
In witness whereof, the undersigned has duly executed this certificate this
10th day of June, 1997.
FBS Card Services, Inc.
Servicer
By:/s/ Donald C. Jacobson
----------------------
Name: Donald C. Jacobson
Title: Vice President
<PAGE>
FORM OF SERIES 1997-1 CERTIFICATEHOLDERS' STATEMENT
FIRST BANK OF SOUTH DAKOTA (NATIONAL ASSOCIATION)
-------------------------------------------------
FIRST BANK CORPORATE CARD MASTER TRUST
-------------------------------------------------
The information which is required to be prepared with respect to the
Distribution Date of July 15, 1997 and with respect to the performance of
the Trust during the related Collection Period(s).
Capitalized terms used in this Statement have their respective meanings set
forth in the Pooling and Servicing Agreement.
<TABLE>
<S> <C>
A. INFORMATION REGARDING THE CURRENT DISTRIBUTION (STATED ON THE BASIS OF $1,000 ORIGINAL
CERTIFICATE PRINCIPAL BALANCE)
1. Class A Monthly Principal $ -
2. Class B Monthly Principal $ -
3. Collateral Monthly Principal $ -
4. Class A Monthly Interest $ -
5. Class A Deficiency Amounts $ -
6. Class A Additional Interest $ -
7. Class B Monthly Interest $ -
8. Class B Deficiency Amounts $ -
9. Class B Additional Interest $ -
10. Collateral Monthly Interest $ 4.86
11. Accrued and unpaid Collateral Monthly Interest $ -
B. INFORMATION REGARDING THE PERFORMANCE OF THE TRUST
1. Principal Collections
(a) Principal Collections allocated to the Class A Certificates $ 322,562,321.86
(b) Principal Collections allocated to the Class B Certificates $ 5,147,271.09
(c) Principal Collections allocated to the Collateral Investor Interest $ 15,441,813.28
2. Trust Principal Component
(a) Trust Principal Component as of the end of the related Collection Period(s) $ 517,482,826.57
(b) Series 1997-1 Invested Amount as of the end of the related Transfer Date(s) $ 420,000,000.00
(c) Series 1997-1 Adjusted Invested Amount as of the end of the related Transfer Date(s) $ 420,000,000.00
(d) Class A Invested Amount as of the end of the related Transfer Date(s) $ 394,800,000.00
(e) Class A Adjusted Invested Amount as of the end of the related Transfer Date(s) $ 394,800,000.00
(f) Class B Invested Amount as of the end of the related Transfer Date(s) $ 6,300,000.00
(g) Collateral Invested Amount as of the end of the related Transfer Date(s) $ 18,900,000.00
<PAGE>
(h) Floating Allocation Percentage with respect to the related Collection Period(s) 79.76%
(i) Class A Floating Percentage with respect to the related Collection Period(s) 74.97%
(j) Class B Floating Percentage with respect to the related Collection Period(s) 1.20%
(k) Collateral Floating Percentage with respect to the related Collection Period(s) 3.59%
(l) Fixed Allocation Percentage with respect to the related Collection Period(s) N/A
(m) Class A Fixed Percentage with respect to the related Collection Period(s) N/A
(n) Class B Fixed Percentage with respect to the related Collection Period(s) N/A
(o) Collateral Fixed Percentage with respect to the related Collection Period(s) N/A
3. Delinquent Balances
The aggregate amount of outstanding balances in the Accounts which were delinquent
as of the end of the day on the last day of the related Collection Period(s):
</TABLE>
<TABLE>
<CAPTION>
Aggregate Account
Balance
------------------
<S> <C>
(a) 30-59 days: $ 2,328,883.57
(b) 60-89 days: $ 688,465.12
(c) 90-119 days: $ 310,935.95
(d) 120-149 days: $ 18,465.39
Total: $ 3,346,750.03
</TABLE>
<TABLE>
<CAPTION>
Percentage of
Total Receivables
------------------
<S> <C>
(a) 30-59 days: 0.44%
(b) 60-89 days: 0.13%
(c) 90-119 days: 0.06%
(d) 120-149 days: 0.00%
Total: 0.63%
</TABLE>
<TABLE>
<S> <C>
4. Investor Default Amount
(a) Investor Default Amount for the related Collection Period(s) $ 130,648.73
(b) Class A Investor Default Amount for the related Collection Period(s) $ 122,809.81
(c) Class B Investor Default Amount for the related Collection Period(s) $ 1,959.73
(d) Collateral Investor Default Amount for the related Collection Period(s) $ 5,879.19
<PAGE>
5. Investor Charge-Offs
(a) Aggregate Class A Investor Charge-Offs for the related Collection Period(s) $ -
(b) Class A Charge-Offs per $1,000 of original Certificate Principal Balance $ -
(c) Aggregate Class B Investor Charge-Offs for the related Collection Period(s) $ -
(d) Class B Charge-Offs per $1,000 of original Certificate Principal Balance $ -
(e) Aggregate Collateral Investor Charge-Offs for the related Collection Period(s) $ -
(f) Collateral Charge-Offs per $1,000 of original Certificate Principal Balance $ -
(g) Aggregate Class A Investor Charge-Offs reimbursed on the related Transfer Date(s) $ -
(h) Class A Investor Charge-Offs reimbursed per $1,000 of original Certificate Principal Balance $ -
(i) Aggregate Class B Investor Charge-Offs reimbursed on the related Transfer Date(s) $ -
(j) Class B Investor Charge-Offs reimbursed per $1,000 of original Certificate Principal Balance $ -
(k) Aggregate Collateral Investor Charge-Offs reimbursed on the related Transfer Date(s) $ -
(l) Collateral Investor Charge-Offs reimbursed per $1,000 of original Certificate Principal Balance $ -
6. Monthly Investor Servicing Fee
(a) Class A Servicing Fee payable for the related Collection Period(s) $ 329,000.00
(b) Class B Servicing Fee payable for the related Collection Period(s) $ 5,250.00
(c) Collateral Servicing Fee payable for the related Collection Period(s) $ 15,750.00
7. Reallocations
(a) Reallocated Collateral Principal Collections with respect to the related Collection Period(s) $ -
(b) Reallocated Class B Principal Collections with respect to the related Collection Period(s) $ -
(c) Collateral Invested Amount as of this Distribution Date $ 18,900,000.00
(d) Class B Invested Amount as of this Distribution Date $ 6,300,000.00
<PAGE>
8. Yield Collections and Net Interchange
(a) Aggregate Yield Collections (including Net Interchange) processed during the related
Collection Period allocated in respect of the Class A Investor Certificate $ 12,057,721.64
(b) Aggregate Yield Collections (including Net Interchange) processed during the related
Collection Period allocated in respect of the Class B Investor Certificate $ 192,410.45
(c) Aggregate Yield Collections (including Net Interchange) processed during the related
Collection Period allocated in respect of the Collateral Investor Certificate $ 577,231.36
9. Principal Funding Amount
(a) Principal amount in Principal Funding Account on the related Transfer Date $ -
(b) Deficit Controlled Accumulation Amount with respect to the related Collection Period(s) $ -
(c) Principal Funding Investment Proceeds deposited in the Collection Account on the related
Transfer Date(s) $ -
(d) Reserve Draw Amount deposited in the Collection Account on the related Transfer Date(s)
from the Reserve Account $ -
10. Reserve Draw Amount on the related Transfer Date(s) $ -
11. Overconcentration Draw Amount on the related Transfer Date(s) $ -
12. Available Funds
(a) Class A Available Funds on deposit in the Collection Account on the related Transfer Date(s) $ 11,795,324.72
(a) Class B Available Funds on deposit in the Collection Account on the related Transfer Date(s) $ 188,223.27
(a) Collateral Available Funds on deposit in the Collection Account on the related Transfer Date(s) $ 564,669.80
13. Portfolio Yield and Base Rate
(a) Portfolio Yield for the related Collection Period 19.64%
(b) Base Rate for the related Collection Period 7.38%
14. Monthly Payment Rate 81.70%
15. Principal Payment Rate 81.70%
16. Gross Losses as a Percentage of Charge Volume & Fees 0.35%
17. Minimum Transferor's Percentage 12.00%
</TABLE>
FBS Card Services, Inc.
Servicer
By:/s/ Donald C. Jacobson
----------------------
Name: Donald C. Jacobson
Title: Vice President
<PAGE>
SCHEDULE TO MONTHLY SERVICER'S CERTIFICATE
COLLECTION PERIOD ENDING JUNE 30, 1997
FIRST BANK OF SOUTH DAKOTA (NATIONAL ASSOCIATION)
FIRST BANK CORPORATE CARD MASTER TRUST SERIES 1997-1
<TABLE>
<S> <C>
1. Investor Percentage of Principal Collections $ 343,151,406.23
2. Investor Percentage of Yield Collections (ex. Net Interchange) $ 7,003,089.92
3. Investor Percentage of Net Interchange $ 5,824,273.53
4. Servicer Interchange $ 350,000.00
5. The aggregate amount of funds on deposit in Collection Account allocable to Series 1997-1 Certificates $ 446,335,316.61
6. Funds in Principal Funding Account allocable to Series 1997-1 Certificates $ -
7. Aggregate amount paid in accordance with the Loan Agreement pursuant to Section 4.11 $ 91,920.94
8. Required Collateral Invested Amount over the Collateral Invested Amount $ -
9. Collateral Invested Amount $ 18,900,000.00
10. The amount of Monthly Interest, Deficiency Amounts and Additional Interest payable to the
(i) Class A Certificateholders $ -
(ii) Class B Certificateholders $ -
(iii) Collateral Interest Holder $ 91,920.94
11. The amount of principal payable to the
(i) Class A Certificateholders $ -
(ii) Class B Certificateholders $ -
(iii) Collateral Interest Holder $ -
12. The sum of all amounts payable to the
(i) Class A Certificateholders $ -
(ii) Class B Certificateholders $ -
(iii) Collateral Interest Holder $ 91,920.94
13. To the knowledge of the undersigned, no Early Amortization Event has
occurred except as described below:
None
</TABLE>
In witness whereof, the undersigned has duly executed this certificate this 10th
day of July, 1997.
FBS Card Services, Inc.
Servicer
By:/s/ Donald C. Jacobson
----------------------
Name: Donald C. Jacobson
Title: Vice President
<PAGE>
FORM OF SERIES 1997-1 CERTIFICATEHOLDERS' STATEMENT
FIRST BANK OF SOUTH DAKOTA (NATIONAL ASSOCIATION)
-------------------------------------------------
FIRST BANK CORPORATE CARD MASTER TRUST
-------------------------------------------------
The information which is required to be prepared with respect to the
Distribution Date of August 15, 1997 and with respect to the performance
of the Trust during the related Collection Period(s).
Capitalized terms used in this Statement have their respective meanings set
forth in the Pooling and Servicing Agreement.
<TABLE>
<S> <C>
A. INFORMATION REGARDING THE CURRENT DISTRIBUTION (STATED ON THE BASIS OF $1,000 ORIGINAL
CERTIFICATE PRINCIPAL BALANCE)
1. Class A Monthly Principal $ -
2. Class B Monthly Principal $ -
3. Collateral Monthly Principal $ -
4. Class A Monthly Interest $ 29.87
5. Class A Deficiency Amounts $ -
6. Class A Additional Interest $ -
7. Class B Monthly Interest $ 30.57
8. Class B Deficiency Amounts $ -
9. Class B Additional Interest $ -
10. Collateral Monthly Interest $ 5.19
11. Accrued and unpaid Collateral Monthly Interest $ -
B. INFORMATION REGARDING THE PERFORMANCE OF THE TRUST
1. Principal Collections
(a) Principal Collections allocated to the Class A Certificates $ 311,607,861.19
(b) Principal Collections allocated to the Class B Certificates $ 4,972,465.87
(c) Principal Collections allocated to the Collateral Investor Interest $ 14,917,397.61
2. Trust Principal Component
(a) Trust Principal Component as of the end of the related Collection Period(s) $ 491,960,783.01
(b) Series 1997-1 Invested Amount as of the end of the related Transfer Date(s) $ 420,000,000.00
(c) Series 1997-1 Adjusted Invested Amount as of the end of the related Transfer Date(s) $ 420,000,000.00
(d) Class A Invested Amount as of the end of the related Transfer Date(s) $ 394,800,000.00
(e) Class A Adjusted Invested Amount as of the end of the related Transfer Date(s) $ 394,800,000.00
(f) Class B Invested Amount as of the end of the related Transfer Date(s) $ 6,300,000.00
(g) Collateral Invested Amount as of the end of the related Transfer Date(s) $ 18,900,000.00
<PAGE>
(h) Floating Allocation Percentage with respect to the related Collection Period(s) 81.16%
(i) Class A Floating Percentage with respect to the related Collection Period(s) 76.29%
(j) Class B Floating Percentage with respect to the related Collection Period(s) 1.22%
(k) Collateral Floating Percentage with respect to the related Collection Period(s) 3.65%
(l) Fixed Allocation Percentage with respect to the related Collection Period(s) N/A
(m) Class A Fixed Percentage with respect to the related Collection Period(s) N/A
(n) Class B Fixed Percentage with respect to the related Collection Period(s) N/A
(o) Collateral Fixed Percentage with respect to the related Collection Period(s) N/A
3. Delinquent Balances
The aggregate amount of outstanding balances in the Accounts which were delinquent
as of the end of the day on the last day of the related Collection Period(s):
</TABLE>
<TABLE>
<CAPTION>
Aggregate Account
Balance
------------------
<S> <C>
(a) 30-59 days: $ 2,033,085.88
(b) 60-89 days: $ 958,032.05
(c) 90-119 days: $ 284,609.52
(d) 120-149 days: $ -
Total: $ 3,275,727.45
</TABLE>
<TABLE>
<CAPTION>
Percentage of
Total Receivables
------------------
<S> <C>
(a) 30-59 days: 0.40%
(b) 60-89 days: 0.19%
(c) 90-119 days: 0.06%
(d) 120-149 days: 0.00%
Total: 0.65%
</TABLE>
<TABLE>
<S> <C>
4. Investor Default Amount
(a) Investor Default Amount for the related Collection Period(s) $ 98,055.07
(b) Class A Investor Default Amount for the related Collection Period(s) $ 92,171.76
(c) Class B Investor Default Amount for the related Collection Period(s) $ 1,470.83
(d) Collateral Investor Default Amount for the related Collection Period(s) $ 4,412.48
<PAGE>
5. Investor Charge-Offs
(a) Aggregate Class A Investor Charge-Offs for the related Collection Period(s) $ -
(b) Class A Charge-Offs per $1,000 of original Certificate Principal Balance $ -
(c) Aggregate Class B Investor Charge-Offs for the related Collection Period(s) $ -
(d) Class B Charge-Offs per $1,000 of original Certificate Principal Balance $ -
(e) Aggregate Collateral Investor Charge-Offs for the related Collection Period(s) $ -
(f) Collateral Charge-Offs per $1,000 of original Certificate Principal Balance $ -
(g) Aggregate Class A Investor Charge-Offs reimbursed on the related Transfer Date(s) $ -
(h) Class A Investor Charge-Offs reimbursed per $1,000 of original Certificate Principal Balance $ -
(i) Aggregate Class B Investor Charge-Offs reimbursed on the related Transfer Date(s) $ -
(j) Class B Investor Charge-Offs reimbursed per $1,000 of original Certificate Principal Balance $ -
(k) Aggregate Collateral Investor Charge-Offs reimbursed on the related Transfer Date(s) $ -
(l) Collateral Investor Charge-Offs reimbursed per $1,000 of original Certificate Principal Balance $ -
6. Monthly Investor Servicing Fee
(a) Class A Servicing Fee payable for the related Collection Period(s) $ 329,000.00
(b) Class B Servicing Fee payable for the related Collection Period(s) $ 5,250.00
(c) Collateral Servicing Fee payable for the related Collection Period(s) $ 15,750.00
7. Reallocations
(a) Reallocated Collateral Principal Collections with respect to the related Collection Period(s) $ -
(b) Reallocated Class B Principal Collections with respect to the related Collection Period(s) $ -
(c) Collateral Invested Amount as of this Distribution Date $ 18,900,000.00
(d) Class B Invested Amount as of this Distribution Date $ 6,300,000.00
<PAGE>
8. Yield Collections and Net Interchange
(a) Aggregate Yield Collections (including Net Interchange) processed during the related
Collection Period allocated in respect of the Class A Investor Certificate $ 11,394,656.63
(b) Aggregate Yield Collections (including Net Interchange) processed during the related
Collection Period allocated in respect of the Class B Investor Certificate $ 181,829.63
(c) Aggregate Yield Collections (including Net Interchange) processed during the related
Collection Period allocated in respect of the Collateral Investor Certificate $ 545,488.88
9. Principal Funding Amount
(a) Principal amount in Principal Funding Account on the related Transfer Date $ -
(b) Deficit Controlled Accumulation Amount with respect to the related Collection Period(s) $ -
(c) Principal Funding Investment Proceeds deposited in the Collection Account on the related
Transfer Date(s) $ -
(d) Reserve Draw Amount deposited in the Collection Account on the related Transfer Date(s)
from the Reserve Account $ -
10. Reserve Draw Amount on the related Transfer Date(s) $ -
11. Overconcentration Draw Amount on the related Transfer Date(s) $ -
12. Available Funds
(a) Class A Available Funds on deposit in the Collection Account on the related Transfer Date(s) $ 11,127,633.28
(a) Class B Available Funds on deposit in the Collection Account on the related Transfer Date(s) $ 177,568.62
(a) Collateral Available Funds on deposit in the Collection Account on the related Transfer Date(s) $ 532,705.85
13. Portfolio Yield and Base Rate
(a) Portfolio Yield for the related Collection Period 19.05%
(b) Base Rate for the related Collection Period 7.39%
14. Monthly Payment Rate 78.93%
15. Principal Payment Rate 78.93%
16. Gross Losses as a Percentage of Charge Volume & Fees 0.27%
17. Minimum Transferor's Percentage 12.00%
</TABLE>
FBS Card Services, Inc.
Servicer
By:/s/ Merita Schollmeier
----------------------
Name: Merita Schollmeier
Title: Vice President
<PAGE>
SCHEDULE TO MONTHLY SERVICER'S CERTIFICATE
COLLECTION PERIOD ENDING JULY 31, 1997
FIRST BANK OF SOUTH DAKOTA (NATIONAL ASSOCIATION)
FIRST BANK CORPORATE CARD MASTER TRUST SERIES 1997-1
<TABLE>
<S> <C>
1. Investor Percentage of Principal Collections $ 331,497,724.67
2. Investor Percentage of Yield Collections (ex. Net Interchange) $ 6,765,259.69
3. Investor Percentage of Net Interchange $ 5,356,715.45
4. Servicer Interchange $ 350,000.00
5. The aggregate amount of funds on deposit in Collection Account allocable to Series 1997-1 Certificates $ 423,374,508.39
6. Funds in Principal Funding Account allocable to Series 1997-1 Certificates $ -
7. Aggregate amount paid in accordance with the Loan Agreement pursuant to Section 4.11 $ 98,133.20
8. Required Collateral Invested Amount over the Collateral Invested Amount $ -
9. Collateral Invested Amount $ 18,900,000.00
10. The amount of Monthly Interest, Deficiency Amounts and Additional Interest payable to the
(i) Class A Certificateholders $ 11,791,360.00
(ii) Class B Certificateholders $ 192,570.00
(iii) Collateral Interest Holder $ 98,133.20
11. The amount of principal payable to the
(i) Class A Certificateholders $ -
(ii) Class B Certificateholders $ -
(iii) Collateral Interest Holder $ -
12. The sum of all amounts payable to the
(i) Class A Certificateholders $ 11,791,360.00
(ii) Class B Certificateholders $ 192,570.00
(iii) Collateral Interest Holder $ 98,133.20
13. To the knowledge of the undersigned, no Early Amortization Event has occurred except
as described below:
None
</TABLE>
In witness whereof, the undersigned has duly executed this certificate this 11th
day of August, 1997.
FBS Card Services, Inc.
Servicer
By:/s/ Merita Schollmeier
----------------------
Name: Merita Schollmeier
Title: Vice President
<PAGE>
FORM OF SERIES 1997-1 CERTIFICATEHOLDERS' STATEMENT
FIRST BANK OF SOUTH DAKOTA (NATIONAL ASSOCIATION)
----------------------------------------------------
FIRST BANK CORPORATE CARD MASTER TRUST
----------------------------------------------------
The information which is required to be prepared with respect to the
Distribution Date of September 15, 1997 and with respect to the performance
of the Trust during the related Collection Period(s).
Capitalized terms used in this Statement have their respective meanings set
forth in the Pooling and Servicing Agreement.
<TABLE>
<S> <C>
A. INFORMATION REGARDING THE CURRENT DISTRIBUTION (STATED ON THE BASIS OF $1,000 ORIGINAL CERTIFICATE
PRINCIPAL BALANCE)
1. Class A Monthly Principal $ -
2. Class B Monthly Principal $ -
3. Collateral Monthly Principal $ -
4. Class A Monthly Interest $ -
5. Class A Deficiency Amounts $ -
6. Class A Additional Interest $ -
7. Class B Monthly Interest $ -
8. Class B Deficiency Amounts $ -
9. Class B Additional Interest $ -
10. Collateral Monthly Interest $ 5.17
11. Accrued and unpaid Collateral Monthly Interest $ -
B. INFORMATION REGARDING THE PERFORMANCE OF THE TRUST
1. Principal Collections
(a) Principal Collections allocated to the Class A Certificates $ 305,435,288.47
(b) Principal Collections allocated to the Class B Certificates $ 4,873,967.37
(c) Principal Collections allocated to the Collateral Investor Interest $ 14,621,902.11
2. Trust Principal Component
(a) Trust Principal Component as of the end of the related Collection Period(s) $ 485,819,290.14
(b) Series 1997-1 Invested Amount as of the end of the related Transfer Date(s) $ 420,000,000.00
(c) Series 1997-1 Adjusted Invested Amount as of the end of the related Transfer Date(s) $ 420,000,000.00
(d) Class A Invested Amount as of the end of the related Transfer Date(s) $ 394,800,000.00
(e) Class A Adjusted Invested Amount as of the end of the related Transfer Date(s) $ 394,800,000.00
(f) Class B Invested Amount as of the end of the related Transfer Date(s) $ 6,300,000.00
(g) Collateral Invested Amount as of the end of the related Transfer Date(s) $ 18,900,000.00
<PAGE>
(h) Floating Allocation Percentage with respect to the related Collection Period(s) 85.37%
(i) Class A Floating Percentage with respect to the related Collection Period(s) 80.25%
(j) Class B Floating Percentage with respect to the related Collection Period(s) 1.28%
(k) Collateral Floating Percentage with respect to the related Collection Period(s) 3.84%
(l) Fixed Allocation Percentage with respect to the related Collection Period(s) N/A
(m) Class A Fixed Percentage with respect to the related Collection Period(s) N/A
(n) Class B Fixed Percentage with respect to the related Collection Period(s) N/A
(o) Collateral Fixed Percentage with respect to the related Collection Period(s) N/A
3. Delinquent Balances
The aggregate amount of outstanding balances in the Accounts which were
delinquent as of the end of the day on the last day of the related Collection Period(s):
</TABLE>
<TABLE>
<CAPTION>
Aggregate Account
Balance
-----------------
<S> <C>
(a) 30-59 days: $ 2,940,978.60
(b) 60-89 days: $ 529,503.32
(c) 90-119 days: $ 253,215.37
(d) 120-149 days: $ -
Total: $ 3,723,697.29
</TABLE>
<TABLE>
<CAPTION>
Percentage of
Total Receivables
-----------------
<S> <C>
(a) 30-59 days: 0.59%
(b) 60-89 days: 0.11%
(c) 90-119 days: 0.05%
(d) 120-149 days: 0.00%
Total: 0.75%
</TABLE>
<TABLE>
<S> <C>
4. Investor Default Amount
(a) Investor Default Amount for the related Collection Period(s) $ 91,820.90
(b) Class A Investor Default Amount for the related Collection Period(s) $ 86,311.64
(c) Class B Investor Default Amount for the related Collection Period(s) $ 1,377.31
(d) Collateral Investor Default Amount for the related Collection Period(s) $ 4,131.94
<PAGE>
5. Investor Charge-Offs
(a) Aggregate Class A Investor Charge-Offs for the related Collection Period(s) $ -
(b) Class A Charge-Offs per $1,000 of original Certificate Principal Balance $ -
(c) Aggregate Class B Investor Charge-Offs for the related Collection Period(s) $ -
(d) Class B Charge-Offs per $1,000 of original Certificate Principal Balance $ -
(e) Aggregate Collateral Investor Charge-Offs for the related Collection Period(s) $ -
(f) Collateral Charge-Offs per $1,000 of original Certificate Principal Balance $ -
(g) Aggregate Class A Investor Charge-Offs reimbursed on the related Transfer Date(s) $ -
(h) Class A Investor Charge-Offs reimbursed per $1,000 of original Certificate Principal Balance $ -
(i) Aggregate Class B Investor Charge-Offs reimbursed on the related Transfer Date(s) $ -
(j) Class B Investor Charge-Offs reimbursed per $1,000 of original Certificate Principal Balance $ -
(k) Aggregate Collateral Investor Charge-Offs reimbursed on the related Transfer Date(s) $ -
(l) Collateral Investor Charge-Offs reimbursed per $1,000 of original Certificate Principal Balance $ -
6. Monthly Investor Servicing Fee
(a) Class A Servicing Fee payable for the related Collection Period(s) $ 329,000.00
(b) Class B Servicing Fee payable for the related Collection Period(s) $ 5,250.00
(c) Collateral Servicing Fee payable for the related Collection Period(s) $ 15,750.00
7. Reallocations
(a) Reallocated Collateral Principal Collections with respect to the related Collection Period(s) $ -
(b) Reallocated Class B Principal Collections with respect to the related Collection Period(s) $ -
(c) Collateral Invested Amount as of this Distribution Date $ 18,900,000.00
(d) Class B Invested Amount as of this Distribution Date $ 6,300,000.00
<PAGE>
8. Yield Collections and Net Interchange
(a) Aggregate Yield Collections(including Net Interchange) processed during the related Collection
Period allocated in respect of the Class A Investor Certificate $ 11,469,797.56
(b) Aggregate Yield Collections(including Net Interchange) processed during the related Collection
Period allocated in respect of the Class B Investor Certificate $ 183,028.68
(c) Aggregate Yield Collections(including Net Interchange) processed during the related Collection
Period allocated in respect of the Collateral Investor Certificate $ 549,086.05
9. Principal Funding Amount
(a) Principal amount in Principal Funding Account on the related Transfer Date $ -
(b) Deficit Controlled Accumulation Amount with respect to the related Collection Period(s) $ -
(c) Principal Funding Investment Proceeds deposited in the Collection Account on the related Transfer
Date(s) $ -
(d) Reserve Draw Amount deposited in the Collection Account on the related Transfer Date(s) from the
Reserve Account $ -
10. Reserve Draw Amount on the related Transfer Date(s) $ -
11. Overconcentration Draw Amount on the related Transfer Date(s) $ -
12. Available Funds
(a) Class A Available Funds on deposit in the Collection Account on the related Transfer Date(s) $ 11,188,921.51
(a) Class B Available Funds on deposit in the Collection Account on the related Transfer Date(s) $ 178,546.62
(a) Collateral Available Funds on deposit in the Collection Account on the related Transfer Date(s) $ 535,639.86
13. Portfolio Yield and Base Rate
(a) Portfolio Yield for the related Collection Period 18.68%
(b) Base Rate for the related Collection Period 7.39%
14. Monthly Payment Rate 77.36%
15. Principal Payment Rate 77.36%
16. Gross Losses as a Percentage of Charge Volume & Fees 0.24%
17. Minimum Transferor's Percentage 12.00%
</TABLE>
FBS Card Services, Inc.
Servicer
By:/s/ Merita Schollmeier
----------------------
Name: Merita Schollmeier
Title: Vice President
<PAGE>
SCHEDULE TO MONTHLY SERVICER'S CERTIFICATE
COLLECTION PERIOD ENDING AUGUST 31, 1997
FIRST BANK OF SOUTH DAKOTA (NATIONAL ASSOCIATION)
FIRST BANK CORPORATE CARD MASTER TRUST SERIES 1997-1
<TABLE>
<S> <C>
1. Investor Percentage of Principal Collections $ 324,931,157.94
2. Investor Percentage of Yield Collections (ex. Net Interchange) $ 6,631,248.12
3. Investor Percentage of Net Interchange $ 5,570,664.17
4. Servicer Interchange $ 350,000.00
5. The aggregate amount of funds on deposit in Collection Account allocable to Series 1997-1 Certificates $ 394,895,831.46
6. Funds in Principal Funding Account allocable to Series 1997-1 Certificates $ -
7. Aggregate amount paid in accordance with the Loan Agreement pursuant to Section 4.11 $ 97,688.08
8. Required Collateral Invested Amount over the Collateral Invested Amount $ -
9. Collateral Invested Amount $ 18,900,000.00
10. The amount of Monthly Interest, Deficiency Amounts and Additional Interest payable to the
(i) Class A Certificateholders $ -
(ii) Class B Certificateholders $ -
(iii) Collateral Interest Holder $ 97,688.08
11. The amount of principal payable to the
(i) Class A Certificateholders $ -
(ii) Class B Certificateholders $ -
(iii) Collateral Interest Holder $ -
12. The sum of all amounts payable to the
(i) Class A Certificateholders $ -
(ii) Class B Certificateholders $ -
(iii) Collateral Interest Holder $ 97,688.08
13. To the knowledge of the undersigned, no Early Amortization Event has
occurred except as described below:
None
</TABLE>
In witness whereof, the undersigned has duly executed this certificate this 10th
day of September, 1997.
FBS Card Services, Inc.
Servicer
By:/s/ Merita Schollmeier
----------------------
Name: Merita Schollmeier
Title: Vice President
<PAGE>
FORM OF SERIES 1997-1 CERTIFICATEHOLDERS' STATEMENT
FIRST BANK OF SOUTH DAKOTA (NATIONAL ASSOCIATION)
-------------------------------------------------
FIRST BANK CORPORATE CARD MASTER TRUST
-------------------------------------------------
The information which is required to be prepared with respect to the
Distribution Date of October 15, 1997 and with respect to the performance
of the Trust during the related Collection Period(s).
Capitalized terms used in this Statement have their respective meanings set
forth in the Pooling and Servicing Agreement.
<TABLE>
<S> <C>
A. INFORMATION REGARDING THE CURRENT DISTRIBUTION (STATED ON THE BASIS OF $1,000 ORIGINAL
CERTIFICATE PRINCIPAL BALANCE)
1. Class A Monthly Principal $ -
2. Class B Monthly Principal $ -
3. Collateral Monthly Principal $ -
4. Class A Monthly Interest $ -
5. Class A Deficiency Amounts $ -
6. Class A Additional Interest $ -
7. Class B Monthly Interest $ -
8. Class B Deficiency Amounts $ -
9. Class B Additional Interest $ -
10. Collateral Monthly Interest $ 5.01
11. Accrued and unpaid Collateral Monthly Interest $ -
B. INFORMATION REGARDING THE PERFORMANCE OF THE TRUST
1. Principal Collections
(a) Principal Collections allocated to the Class A Certificates $ 334,909,100.20
(b) Principal Collections allocated to the Class B Certificates $ 5,344,294.15
(c) Principal Collections allocated to the Collateral Investor Interest $ 16,032,882.46
2. Trust Principal Component
(a) Trust Principal Component as of the end of the related Collection Period(s) $ 502,716,376.86
(b) Series 1997-1 Invested Amount as of the end of the related Transfer Date(s) $ 420,000,000.00
(c) Series 1997-1 Adjusted Invested Amount as of the end of the related Transfer Date(s) $ 420,000,000.00
(d) Class A Invested Amount as of the end of the related Transfer Date(s) $ 394,800,000.00
(e) Class A Adjusted Invested Amount as of the end of the related Transfer Date(s) $ 394,800,000.00
(f) Class B Invested Amount as of the end of the related Transfer Date(s) $ 6,300,000.00
(g) Collateral Invested Amount as of the end of the related Transfer Date(s) $ 18,900,000.00
<PAGE>
(h) Floating Allocation Percentage with respect to the related Collection Period(s) 86.45%
(i) Class A Floating Percentage with respect to the related Collection Period(s) 81.26%
(j) Class B Floating Percentage with respect to the related Collection Period(s) 1.30%
(k) Collateral Floating Percentage with respect to the related Collection Period(s) 3.89%
(l) Fixed Allocation Percentage with respect to the related Collection Period(s) N/A
(m) Class A Fixed Percentage with respect to the related Collection Period(s) N/A
(n) Class B Fixed Percentage with respect to the related Collection Period(s) N/A
(o) Collateral Fixed Percentage with respect to the related Collection Period(s) N/A
3. Delinquent Balances
The aggregate amount of outstanding balances in the Accounts which were delinquent
as of the end of the day on the last day of the related Collection Period(s):
</TABLE>
<TABLE>
<CAPTION>
Aggregate Account
Balance
------------------
<S> <C>
(a) 30-59 days: $ 2,951,905.07
(b) 60-89 days: $ 565,572.10
(c) 90-119 days: $ 226,633.18
(d) 120-149 days: $ -
Total: $ 3,744,110.35
</TABLE>
<TABLE>
<CAPTION>
Percentage of
Total Receivables
------------------
<S> <C>
(a) 30-59 days: 0.58%
(b) 60-89 days: 0.11%
(c) 90-119 days: 0.04%
(d) 120-149 days: 0.00%
Total: 0.73%
</TABLE>
<TABLE>
<S> <C>
4. Investor Default Amount
(a) Investor Default Amount for the related Collection Period(s) $ 116,023.72
(b) Class A Investor Default Amount for the related Collection Period(s) $ 109,062.30
(c) Class B Investor Default Amount for the related Collection Period(s) $ 1,740.36
(d) Collateral Investor Default Amount for the related Collection Period(s) $ 5,221.07
<PAGE>
5. Investor Charge-Offs
(a) Aggregate Class A Investor Charge-Offs for the related Collection Period(s) $ -
(b) Class A Charge-Offs per $1,000 of original Certificate Principal Balance $ -
(c) Aggregate Class B Investor Charge-Offs for the related Collection Period(s) $ -
(d) Class B Charge-Offs per $1,000 of original Certificate Principal Balance $ -
(e) Aggregate Collateral Investor Charge-Offs for the related Collection Period(s) $ -
(f) Collateral Charge-Offs per $1,000 of original Certificate Principal Balance $ -
(g) Aggregate Class A Investor Charge-Offs reimbursed on the related Transfer Date(s) $ -
(h) Class A Investor Charge-Offs reimbursed per $1,000 of original Certificate Principal Balance $ -
(i) Aggregate Class B Investor Charge-Offs reimbursed on the related Transfer Date(s) $ -
(j) Class B Investor Charge-Offs reimbursed per $1,000 of original Certificate Principal Balance $ -
(k) Aggregate Collateral Investor Charge-Offs reimbursed on the related Transfer Date(s) $ -
(l) Collateral Investor Charge-Offs reimbursed per $1,000 of original Certificate Principal Balance $ -
6. Monthly Investor Servicing Fee
(a) Class A Servicing Fee payable for the related Collection Period(s) $ 329,000.00
(b) Class B Servicing Fee payable for the related Collection Period(s) $ 5,250.00
(c) Collateral Servicing Fee payable for the related Collection Period(s) $ 15,750.00
7. Reallocations
(a) Reallocated Collateral Principal Collections with respect to the related Collection Period(s) $ -
(b) Reallocated Class B Principal Collections with respect to the related Collection Period(s) $ -
(c) Collateral Invested Amount as of this Distribution Date $ 18,900,000.00
(d) Class B Invested Amount as of this Distribution Date $ 6,300,000.00
<PAGE>
8. Yield Collections and Net Interchange
(a) Aggregate Yield Collections (including Net Interchange) processed during the related
Collection Period allocated in respect of the Class A Investor Certificate $ 12,947,227.74
(b) Aggregate Yield Collections (including Net Interchange) processed during the related
Collection Period allocated in respect of the Class B Investor Certificate $ 206,604.70
(c) Aggregate Yield Collections (including Net Interchange) processed during the related
Collection Period allocated in respect of the Collateral Investor Certificate $ 619,814.09
9. Principal Funding Amount
(a) Principal amount in Principal Funding Account on the related Transfer Date $ -
(b) Deficit Controlled Accumulation Amount with respect to the related Collection Period(s) $ -
(c) Principal Funding Investment Proceeds deposited in the Collection Account on the related
Transfer Date(s) $ -
(d) Reserve Draw Amount deposited in the Collection Account on the related Transfer Date(s)
from the Reserve Account $ -
10. Reserve Draw Amount on the related Transfer Date(s) $ -
11. Overconcentration Draw Amount on the related Transfer Date(s) $ -
12. Available Funds
(a) Class A Available Funds on deposit in the Collection Account on the related Transfer Date(s) $ 12,662,800.99
(a) Class B Available Funds on deposit in the Collection Account on the related Transfer Date(s) $ 202,065.97
(a) Collateral Available Funds on deposit in the Collection Account on the related Transfer Date(s) $ 606,197.92
13. Portfolio Yield and Base Rate
(a) Portfolio Yield for the related Collection Period 20.44%
(b) Base Rate for the related Collection Period 7.38%
14. Monthly Payment Rate 84.83%
15. Principal Payment Rate 84.83%
16. Gross Losses as a Percentage of Charge Volume & Fees 0.29%
17. Minimum Transferor's Percentage 14.00%
</TABLE>
FBS Card Services, Inc.
Servicer
By:/s/ Randy L. Ritterman
----------------------
Name: Randy L. Ritterman
Title: Assistant Vice President
<PAGE>
SCHEDULE TO MONTHLY SERVICER'S CERTIFICATE
COLLECTION PERIOD ENDING SEPTEMBER 30, 1997
FIRST BANK OF SOUTH DAKOTA (NATIONAL ASSOCIATION)
FIRST BANK CORPORATE CARD MASTER TRUST SERIES 1997-1
<TABLE>
<S> <C>
1. Investor Percentage of Principal Collections $ 356,286,276.81
2. Investor Percentage of Yield Collections (ex. Net Interchange) $ 7,271,148.51
3. Investor Percentage of Net Interchange $ 6,502,498.03
4. Servicer Interchange $ 350,000.00
5. The aggregate amount of funds on deposit in Collection Account allocable to Series
1997-1 Certificates $ 428,052,974.45
6. Funds in Principal Funding Account allocable to Series 1997-1 Certificates $ -
7. Aggregate amount paid in accordance with the Loan Agreement pursuant to Section 4.11 $ 94,598.44
8. Required Collateral Invested Amount over the Collateral Invested Amount $ -
9. Collateral Invested Amount $ 18,900,000.00
10. The amount of Monthly Interest, Deficiency Amounts and Additional Interest payable to the
(i) Class A Certificateholders $ -
(ii) Class B Certificateholders $ -
(iii) Collateral Interest Holder $ 94,598.44
11. The amount of principal payable to the
(i) Class A Certificateholders $ -
(ii) Class B Certificateholders $ -
(iii) Collateral Interest Holder $ -
12. The sum of all amounts payable to the
(i) Class A Certificateholders $ -
(ii) Class B Certificateholders $ -
(iii) Collateral Interest Holder $ 94,598.44
13. To the knowledge of the undersigned, no Early Amortization Event has
occurred except as described below:
None
</TABLE>
In witness whereof, the undersigned has duly executed this certificate this 7th
day of October, 1997.
FBS Card Services, Inc.
Servicer
By:/s/ Randy L. Ritterman
----------------------
Name: Randy L. Ritterman
Title: Assistant Vice President
<PAGE>
FORM OF SERIES 1997-1 CERTIFICATEHOLDERS' STATEMENT
FIRST BANK OF SOUTH DAKOTA (NATIONAL ASSOCIATION)
----------------------------------------------------
FIRST BANK CORPORATE CARD MASTER TRUST
----------------------------------------------------
The information which is required to be prepared with respect to the
Distribution Date of November 17, 1997 and with respect to the performance
of the Trust during the related Collection Period(s).
Capitalized terms used in this Statement have their respective meanings set
forth in the Pooling and Servicing Agreement.
<TABLE>
<S> <C>
A. INFORMATION REGARDING THE CURRENT DISTRIBUTION (STATED ON THE BASIS OF $1,000 ORIGINAL CERTIFICATE
PRINCIPAL BALANCE)
1. Class A Monthly Principal $ -
2. Class B Monthly Principal $ -
3. Collateral Monthly Principal $ -
4. Class A Monthly Interest $ -
5. Class A Deficiency Amounts $ -
6. Class A Additional Interest $ -
7. Class B Monthly Interest $ -
8. Class B Deficiency Amounts $ -
9. Class B Additional Interest $ -
10. Collateral Monthly Interest $ 5.48
11. Accrued and unpaid Collateral Monthly Interest $ -
B. INFORMATION REGARDING THE PERFORMANCE OF THE TRUST
1. Principal Collections
(a) Principal Collections allocated to the Class A Certificates $ 340,724,667.30
(b) Principal Collections allocated to the Class B Certificates $ 5,437,095.75
(c) Principal Collections allocated to the Collateral Investor Interest $ 16,311,287.26
2. Trust Principal Component
(a) Trust Principal Component as of the end of the related Collection Period(s) $ 539,993,635.48
(b) Series 1997-1 Invested Amount as of the end of the related Transfer Date(s) $ 420,000,000.00
(c) Series 1997-1 Adjusted Invested Amount as of the end of the related Transfer Date(s) $ 420,000,000.00
(d) Class A Invested Amount as of the end of the related Transfer Date(s) $ 394,800,000.00
(e) Class A Adjusted Invested Amount as of the end of the related Transfer Date(s) $ 394,800,000.00
(f) Class B Invested Amount as of the end of the related Transfer Date(s) $ 6,300,000.00
(g) Collateral Invested Amount as of the end of the related Transfer Date(s) $ 18,900,000.00
<PAGE>
(h) Floating Allocation Percentage with respect to the related Collection Period(s) 83.55%
(i) Class A Floating Percentage with respect to the related Collection Period(s) 78.53%
(j) Class B Floating Percentage with respect to the related Collection Period(s) 1.25%
(k) Collateral Floating Percentage with respect to the related Collection Period(s) 3.76%
(l) Fixed Allocation Percentage with respect to the related Collection Period(s) N/A
(m) Class A Fixed Percentage with respect to the related Collection Period(s) N/A
(n) Class B Fixed Percentage with respect to the related Collection Period(s) N/A
(o) Collateral Fixed Percentage with respect to the related Collection Period(s) N/A
3. Delinquent Balances
The aggregate amount of outstanding balances in the Accounts which were delinquent as of the end of the day
on the last day of the related Collection Period(s):
</TABLE>
<TABLE>
<CAPTION>
Aggregate Account
Balance
-----------------
<S> <C>
(a) 30-59 days: $ 2,318,142.09
(b) 60-89 days: $ 512,670.77
(c) 90-119 days: $ 250,347.81
(d) 120-149 days: $ -
Total: $ 3,081,160.67
</TABLE>
<TABLE>
<CAPTION>
Percentage of
Total Receivables
-----------------
<S> <C>
(a) 30-59 days: 0.42%
(b) 60-89 days: 0.09%
(c) 90-119 days: 0.05%
(d) 120-149 days: 0.00%
Total: 0.56%
</TABLE>
<TABLE>
<S> <C>
4. Investor Default Amount
(a) Investor Default Amount for the related Collection Period(s) $ 139,526.62
(b) Class A Investor Default Amount for the related Collection Period(s) $ 131,155.03
(c) Class B Investor Default Amount for the related Collection Period(s) $ 2,092.90
(d) Collateral Investor Default Amount for the related Collection Period(s) $ 6,278.70
<PAGE>
5. Investor Charge-Offs
(a) Aggregate Class A Investor Charge-Offs for the related Collection Period(s) $ -
(b) Class A Charge-Offs per $1,000 of original Certificate Principal Balance $ -
(c) Aggregate Class B Investor Charge-Offs for the related Collection Period(s) $ -
(d) Class B Charge-Offs per $1,000 of original Certificate Principal Balance $ -
(e) Aggregate Collateral Investor Charge-Offs for the related Collection Period(s) $ -
(f) Collateral Charge-Offs per $1,000 of original Certificate Principal Balance $ -
(g) Aggregate Class A Investor Charge-Offs reimbursed on the related Transfer Date(s) $ -
(h) Class A Investor Charge-Offs reimbursed per $1,000 of original Certificate Principal Balance $ -
(i) Aggregate Class B Investor Charge-Offs reimbursed on the related Transfer Date(s) $ -
(j) Class B Investor Charge-Offs reimbursed per $1,000 of original Certificate Principal Balance $ -
(k) Aggregate Collateral Investor Charge-Offs reimbursed on the related Transfer Date(s) $ -
(l) Collateral Investor Charge-Offs reimbursed per $1,000 of original Certificate Principal Balance $ -
6. Monthly Investor Servicing Fee
(a) Class A Servicing Fee payable for the related Collection Period(s) $ 329,000.00
(b) Class B Servicing Fee payable for the related Collection Period(s) $ 5,250.00
(c) Collateral Servicing Fee payable for the related Collection Period(s) $ 15,750.00
7. Reallocations
(a) Reallocated Collateral Principal Collections with respect to the related Collection Period(s) $ -
(b) Reallocated Class B Principal Collections with respect to the related Collection Period(s) $ -
(c) Collateral Invested Amount as of this Distribution Date $ 18,900,000.00
(d) Class B Invested Amount as of this Distribution Date $ 6,300,000.00
<PAGE>
8. Yield Collections and Net Interchange
(a) Aggregate Yield Collections (including Net Interchange) processed during the related Collection
Period allocated in respect of the Class A Investor Certificate $ 14,049,310.83
(b) Aggregate Yield Collections (including Net Interchange) processed during the related Collection
Period allocated in respect of the Class B Investor Certificate $ 224,191.13
(c) Aggregate Yield Collections (including Net Interchange) processed during the related Collection
Period allocated in respect of the Collateral Investor Certificate $ 672,573.39
9. Principal Funding Amount
(a) Principal amount in Principal Funding Account on the related Transfer Date $ -
(b) Deficit Controlled Accumulation Amount with respect to the related Collection Period(s) $ -
(c) Principal Funding Investment Proceeds deposited in the Collection Account on the related
Transfer Date(s) $ -
(d) Reserve Draw Amount deposited in the Collection Account on the related Transfer Date(s) from
the Reserve Account $ -
10. Reserve Draw Amount on the related Transfer Date(s) $ -
11. Overconcentration Draw Amount on the related Transfer Date(s) $ -
12. Available Funds
(a) Class A Available Funds on deposit in the Collection Account on the related Transfer Date(s) $ 13,774,444.12
(a) Class B Available Funds on deposit in the Collection Account on the related Transfer Date(s) $ 219,804.96
(a) Collateral Available Funds on deposit in the Collection Account on the related Transfer Date(s) $ 659,414.88
13. Portfolio Yield and Base Rate
(a) Portfolio Yield for the related Collection Period 20.74%
(b) Base Rate for the related Collection Period 7.41%
14. Monthly Payment Rate 86.30%
15. Principal Payment Rate 86.30%
16. Gross Losses as a Percentage of Charge Volume & Fees 0.33%
17. Minimum Transferor's Percentage 14.00%
</TABLE>
FBS Card Services, Inc.
Servicer
By:/s/ Randy L. Ritterman
----------------------
Name: Randy L. Ritterman
Title: Assistant Vice President
<PAGE>
SCHEDULE TO MONTHLY SERVICER'S CERTIFICATE
COLLECTION PERIOD ENDING OCTOBER 31, 1997
FIRST BANK OF SOUTH DAKOTA (NATIONAL ASSOCIATION)
FIRST BANK CORPORATE CARD MASTER TRUST SERIES 1997-1
<TABLE>
<S> <C>
1. Investor Percentage of Principal Collections $ 362,473,050.32
2. Investor Percentage of Yield Collections (ex. Net Interchange) $ 7,397,409.19
3. Investor Percentage of Net Interchange $ 7,548,666.16
4. Servicer Interchange $ 350,000.00
5. The aggregate amount of funds on deposit in Collection Account allocable to Series
1997-1 Certificates $ 451,749,465.27
6. Funds in Principal Funding Account allocable to Series 1997-1 Certificates $ -
7. Aggregate amount paid in accordance with the Loan Agreement pursuant to Section 4.11 $ 103,516.88
8. Required Collateral Invested Amount over the Collateral Invested Amount $ -
9. Collateral Invested Amount $ 18,900,000.00
10. The amount of Monthly Interest, Deficiency Amounts and Additional Interest payable to the
(i) Class A Certificateholders $ -
(ii) Class B Certificateholders $ -
(iii) Collateral Interest Holder $ 103,516.88
11. The amount of principal payable to the
(i) Class A Certificateholders $ -
(ii) Class B Certificateholders $ -
(iii) Collateral Interest Holder $ -
12. The sum of all amounts payable to the
(i) Class A Certificateholders $ -
(ii) Class B Certificateholders $ -
(iii) Collateral Interest Holder $ 103,516.88
13. To the knowledge of the undersigned, no Early Amortization Event has
occurred except as described below:
None
</TABLE>
In witness whereof, the undersigned has duly executed this certificate
this 10th day of November, 1997.
FBS Card Services, Inc.
Servicer
By:/s/ Randy L. Ritterman
----------------------
Name: Randy L. Ritterman
Title: Assistant Vice President
<PAGE>
FORM OF SERIES 1997-1 CERTIFICATEHOLDERS' STATEMENT
FIRST BANK OF SOUTH DAKOTA (NATIONAL ASSOCIATION)
----------------------------------------------------
FIRST BANK CORPORATE CARD MASTER TRUST
----------------------------------------------------
The information which is required to be prepared with respect to the
Distribution Date of December 15, 1997 and with respect to the performance
of the Trust during the related Collection Period(s).
Capitalized terms used in this Statement have their respective meanings set
forth in the Pooling and Servicing Agreement.
<TABLE>
<S> <C>
A. INFORMATION REGARDING THE CURRENT DISTRIBUTION (STATED ON THE BASIS OF $1,000 ORIGINAL
CERTIFICATE PRINCIPAL BALANCE)
1. Class A Monthly Principal $ -
2. Class B Monthly Principal $ -
3. Collateral Monthly Principal $ -
4. Class A Monthly Interest $ -
5. Class A Deficiency Amounts $ -
6. Class A Additional Interest $ -
7. Class B Monthly Interest $ -
8. Class B Deficiency Amounts $ -
9. Class B Additional Interest $ -
10. Collateral Monthly Interest $ 4.70
11. Accrued and unpaid Collateral Monthly Interest $ -
B. INFORMATION REGARDING THE PERFORMANCE OF THE TRUST
1. Principal Collections
(a) Principal Collections allocated to the Class A Certificates $ 289,259,104.09
(b) Principal Collections allocated to the Class B Certificates $ 4,615,836.77
(c) Principal Collections allocated to the Collateral Investor Interest $ 13,847,510.30
2. Trust Principal Component
(a) Trust Principal Component as of the end of the related Collection Period(s) $ 522,941,554.73
(b) Series 1997-1 Invested Amount as of the end of the related Transfer Date(s) $ 420,000,000.00
(c) Series 1997-1 Adjusted Invested Amount as of the end of the related Transfer Date(s) $ 420,000,000.00
(d) Class A Invested Amount as of the end of the related Transfer Date(s) $ 394,800,000.00
(e) Class A Adjusted Invested Amount as of the end of the related Transfer Date(s) $ 394,800,000.00
(f) Class B Invested Amount as of the end of the related Transfer Date(s) $ 6,300,000.00
(g) Collateral Invested Amount as of the end of the related Transfer Date(s) $ 18,900,000.00
<PAGE>
(h) Floating Allocation Percentage with respect to the related Collection Period(s) 77.78%
(i) Class A Floating Percentage with respect to the related Collection Period(s) 73.11%
(j) Class B Floating Percentage with respect to the related Collection Period(s) 1.17%
(k) Collateral Floating Percentage with respect to the related Collection Period(s) 3.50%
(l) Fixed Allocation Percentage with respect to the related Collection Period(s) N/A
(m) Class A Fixed Percentage with respect to the related Collection Period(s) N/A
(n) Class B Fixed Percentage with respect to the related Collection Period(s) N/A
(o) Collateral Fixed Percentage with respect to the related Collection Period(s) N/A
3. Delinquent Balances
The aggregate amount of outstanding balances in the Accounts which were delinquent
as of the end of the day on the last day of the related Collection Period(s):
</TABLE>
<TABLE>
<CAPTION>
Aggregate Account
Balance
------------------
<S> <C>
(a) 30-59 days: $ 3,305,741.44
(b) 60-89 days: $ 939,444.11
(c) 90-119 days: $ 321,631.84
(d) 120-149 days: $ 70,297.00
Total: $ 4,637,114.39
</TABLE>
<TABLE>
<CAPTION>
Percentage of
Total Receivables
------------------
<S> <C>
(a) 30-59 days: 0.62%
(b) 60-89 days: 0.18%
(c) 90-119 days: 0.06%
(d) 120-149 days: 0.01%
Total: 0.87%
</TABLE>
<TABLE>
<S> <C>
4. Investor Default Amount
(a) Investor Default Amount for the related Collection Period(s) $ -
(b) Class A Investor Default Amount for the related Collection Period(s) $ -
(c) Class B Investor Default Amount for the related Collection Period(s) $ -
(d) Collateral Investor Default Amount for the related Collection Period(s) $ -
<PAGE>
5. Investor Charge-Offs
(a) Aggregate Class A Investor Charge-Offs for the related Collection Period(s) $ -
(b) Class A Charge-Offs per $1,000 of original Certificate Principal Balance $ -
(c) Aggregate Class B Investor Charge-Offs for the related Collection Period(s) $ -
(d) Class B Charge-Offs per $1,000 of original Certificate Principal Balance $ -
(e) Aggregate Collateral Investor Charge-Offs for the related Collection Period(s) $ -
(f) Collateral Charge-Offs per $1,000 of original Certificate Principal Balance $ -
(g) Aggregate Class A Investor Charge-Offs reimbursed on the related Transfer Date(s) $ -
(h) Class A Investor Charge-Offs reimbursed per $1,000 of original Certificate Principal Balance $ -
(i) Aggregate Class B Investor Charge-Offs reimbursed on the related Transfer Date(s) $ -
(j) Class B Investor Charge-Offs reimbursed per $1,000 of original Certificate Principal Balance $ -
(k) Aggregate Collateral Investor Charge-Offs reimbursed on the related Transfer Date(s) $ -
(l) Collateral Investor Charge-Offs reimbursed per $1,000 of original Certificate Principal Balance $ -
6. Monthly Investor Servicing Fee
(a) Class A Servicing Fee payable for the related Collection Period(s) $ 329,000.00
(b) Class B Servicing Fee payable for the related Collection Period(s) $ 5,250.00
(c) Collateral Servicing Fee payable for the related Collection Period(s) $ 15,750.00
7. Reallocations
(a) Reallocated Collateral Principal Collections with respect to the related Collection Period(s) $ -
(b) Reallocated Class B Principal Collections with respect to the related Collection Period(s) $ -
(c) Collateral Invested Amount as of this Distribution Date $ 18,900,000.00
(d) Class B Invested Amount as of this Distribution Date $ 6,300,000.00
<PAGE>
8. Yield Collections and Net Interchange
(a) Aggregate Yield Collections (including Net Interchange) processed during the related
Collection Period allocated in respect of the Class A Investor Certificate $ 11,219,869.87
(b) Aggregate Yield Collections (including Net Interchange) processed during the related
Collection Period allocated in respect of the Class B Investor Certificate $ 179,040.48
(c) Aggregate Yield Collections (including Net Interchange) processed during the related
Collection Period allocated in respect of the Collateral Investor Certificate $ 537,121.43
9. Principal Funding Amount
(a) Principal amount in Principal Funding Account on the related Transfer Date $ -
(b) Deficit Controlled Accumulation Amount with respect to the related Collection Period(s) $ -
(c) Principal Funding Investment Proceeds deposited in the Collection Account on the
related Transfer Date(s) $ -
(d) Reserve Draw Amount deposited in the Collection Account on the related Transfer Date(s)
from the Reserve Account $ -
10. Reserve Draw Amount on the related Transfer Date(s) $ -
11. Overconcentration Draw Amount on the related Transfer Date(s) $ -
12. Available Funds
(a) Class A Available Funds on deposit in the Collection Account on the related Transfer Date(s) $ 10,963,977.96
(a) Class B Available Funds on deposit in the Collection Account on the related Transfer Date(s) $ 174,957.10
(a) Collateral Available Funds on deposit in the Collection Account on the related Transfer Date(s) $ 524,871.29
13. Portfolio Yield and Base Rate
(a) Portfolio Yield for the related Collection Period 17.94%
(b) Base Rate for the related Collection Period 7.37%
14. Monthly Payment Rate 73.27%
15. Principal Payment Rate 73.27%
16. Gross Losses as a Percentage of Charge Volume & Fees 0.00%
17. Minimum Transferor's Percentage 12.00%
</TABLE>
FBS Card Services, Inc.
Servicer
By:/s/ Randy L. Ritterman
----------------------
Name: Randy L. Ritterman
Title: Assistant Vice President
<PAGE>
SCHEDULE TO MONTHLY SERVICER'S CERTIFICATE
COLLECTION PERIOD NOVEMBER 30, 1997
FIRST BANK OF SOUTH DAKOTA (NATIONAL ASSOCIATION)
FIRST BANK CORPORATE CARD MASTER TRUST SERIES 1997-1
<TABLE>
<S> <C>
1. Investor Percentage of Principal Collections $ 307,722,451.16
2. Investor Percentage of Yield Collections (ex. Net Interchange) $ 6,280,050.02
3. Investor Percentage of Net Interchange $ 5,655,981.75
4. Servicer Interchange $ 350,000.00
5. The aggregate amount of funds on deposit in Collection Account allocable to Series 1997-1 Certificates $ 410,984,634.07
6. Funds in Principal Funding Account allocable to Series 1997-1 Certificates $ -
7. Aggregate amount paid in accordance with the Loan Agreement pursuant to Section 4.11 $ 88,751.25
8. Required Collateral Invested Amount over the Collateral Invested Amount $ -
9. Collateral Invested Amount $ 18,900,000.00
10. The amount of Monthly Interest, Deficiency Amounts and Additional Interest payable to the
(i) Class A Certificateholders $ -
(ii) Class B Certificateholders $ -
(iii) Collateral Interest Holder $ 88,751.25
11. The amount of principal payable to the
(i) Class A Certificateholders $ -
(ii) Class B Certificateholders $ -
(iii) Collateral Interest Holder $ -
12. The sum of all amounts payable to the
(i) Class A Certificateholders $ -
(ii) Class B Certificateholders $ -
(iii) Collateral Interest Holder $ 88,751.25
13. To the knowledge of the undersigned, no Early Amortization Event has
occurred except as described below:
None
</TABLE>
In witness whereof, the undersigned has duly executed this certificate this
9th day of December, 1997.
FBS Card Services, Inc.
Servicer
By:/s/ Randy L. Ritterman
----------------------
Name: Randy L. Ritterman
Title: Assistant Vice President
<PAGE>
FORM OF SERIES 1997-1 CERTIFICATEHOLDERS' STATEMENT
FIRST BANK OF SOUTH DAKOTA (NATIONAL ASSOCIATION)
----------------------------------------------------
FIRST BANK CORPORATE CARD MASTER TRUST
----------------------------------------------------
The information which is required to be prepared with respect to the
Distribution Date of January 15, 1998 and with respect to the performance
of the Trust during the related Collection Period(s).
Capitalized terms used in this Statement have their respective meanings set
forth in the Pooling and Servicing Agreement.
<TABLE>
<S> <C>
A. INFORMATION REGARDING THE CURRENT DISTRIBUTION (STATED ON THE BASIS OF $1,000 ORIGINAL CERTIFICATE
PRINCIPAL BALANCE)
1. Class A Monthly Principal $ -
2. Class B Monthly Principal $ -
3. Collateral Monthly Principal $ -
4. Class A Monthly Interest $ -
5. Class A Deficiency Amounts $ -
6. Class A Additional Interest $ -
7. Class B Monthly Interest $ -
8. Class B Deficiency Amounts $ -
9. Class B Additional Interest $ -
10. Collateral Monthly Interest $ 5.45
11. Accrued and unpaid Collateral Monthly Interest $ -
B. INFORMATION REGARDING THE PERFORMANCE OF THE TRUST
1. Principal Collections
(a) Principal Collections allocated to the Class A Certificates $ 361,103,016.60
(b) Principal Collections allocated to the Class B Certificates $ 5,762,282.18
(c) Principal Collections allocated to the Collateral Investor Interest $ 17,286,846.54
2. Trust Principal Component
(a) Trust Principal Component as of the end of the related Collection Period(s) $ 536,785,272.74
(b) Series 1997-1 Invested Amount as of the end of the related Transfer Date(s) $ 420,000,000.00
(c) Series 1997-1 Adjusted Invested Amount as of the end of the related Transfer Date(s) $ 420,000,000.00
(d) Class A Invested Amount as of the end of the related Transfer Date(s) $ 394,800,000.00
(e) Class A Adjusted Invested Amount as of the end of the related Transfer Date(s) $ 394,800,000.00
(f) Class B Invested Amount as of the end of the related Transfer Date(s) $ 6,300,000.00
(g) Collateral Invested Amount as of the end of the related Transfer Date(s) $ 18,900,000.00
<PAGE>
(h) Floating Allocation Percentage with respect to the related Collection Period(s) 80.31%
(i) Class A Floating Percentage with respect to the related Collection Period(s) 75.50%
(j) Class B Floating Percentage with respect to the related Collection Period(s) 1.20%
(k) Collateral Floating Percentage with respect to the related Collection Period(s) 3.61%
(l) Fixed Allocation Percentage with respect to the related Collection Period(s) N/A
(m) Class A Fixed Percentage with respect to the related Collection Period(s) N/A
(n) Class B Fixed Percentage with respect to the related Collection Period(s) N/A
(o) Collateral Fixed Percentage with respect to the related Collection Period(s) N/A
3. Delinquent Balances
The aggregate amount of outstanding balances in the Accounts which were
delinquent as of the end of the day on the last day of the related Collection Period(s):
</TABLE>
<TABLE>
<CAPTION>
Aggregate Account
Balance
-----------------
<S> <C>
(a) 30-59 days: $ 5,161,541.67
(b) 60-89 days: $ 1,131,538.30
(c) 90-119 days: $ 352,129.23
(d) 120-149 days: $ -
Total: $ 6,645,209.20
</TABLE>
<TABLE>
<CAPTION>
Percentage of
Total Receivables
-----------------
<S> <C>
(a) 30-59 days: 0.94%
(b) 60-89 days: 0.21%
(c) 90-119 days: 0.06%
(d) 120-149 days: 0.00%
Total: 1.21%
</TABLE>
<TABLE>
<S> <C>
4. Investor Default Amount
(a) Investor Default Amount for the related Collection Period(s) $ 215,466.23
(b) Class A Investor Default Amount for the related Collection Period(s) $ 202,538.25
(c) Class B Investor Default Amount for the related Collection Period(s) $ 3,231.99
(d) Collateral Investor Default Amount for the related Collection Period(s) $ 9,695.98
<PAGE>
5. Investor Charge-Offs
(a) Aggregate Class A Investor Charge-Offs for the related Collection Period(s) $ -
(b) Class A Charge-Offs per $1,000 of original Certificate Principal Balance $ -
(c) Aggregate Class B Investor Charge-Offs for the related Collection Period(s) $ -
(d) Class B Charge-Offs per $1,000 of original Certificate Principal Balance $ -
(e) Aggregate Collateral Investor Charge-Offs for the related Collection Period(s) $ -
(f) Collateral Charge-Offs per $1,000 of original Certificate Principal Balance $ -
(g) Aggregate Class A Investor Charge-Offs reimbursed on the related Transfer Date(s) $ -
(h) Class A Investor Charge-Offs reimbursed per $1,000 of original Certificate Principal Balance $ -
(i) Aggregate Class B Investor Charge-Offs reimbursed on the related Transfer Date(s) $ -
(j) Class B Investor Charge-Offs reimbursed per $1,000 of original Certificate Principal Balance $ -
(k) Aggregate Collateral Investor Charge-Offs reimbursed on the related Transfer Date(s) $ -
(l) Collateral Investor Charge-Offs reimbursed per $1,000 of original Certificate Principal Balance $ -
6. Monthly Investor Servicing Fee
(a) Class A Servicing Fee payable for the related Collection Period(s) $ 329,000.00
(b) Class B Servicing Fee payable for the related Collection Period(s) $ 5,250.00
(c) Collateral Servicing Fee payable for the related Collection Period(s) $ 15,750.00
7. Reallocations
(a) Reallocated Collateral Principal Collections with respect to the related Collection Period(s) $ -
(b) Reallocated Class B Principal Collections with respect to the related Collection Period(s) $ -
(c) Collateral Invested Amount as of this Distribution Date $ 18,900,000.00
(d) Class B Invested Amount as of this Distribution Date $ 6,300,000.00
<PAGE>
8. Yield Collections and Net Interchange
(a) Aggregate Yield Collections(including Net Interchange) processed during the related Collection
Period allocated in respect of the Class A Investor Certificate $ 12,590,933.16
(b) Aggregate Yield Collections(including Net Interchange) processed during the related Collection
Period allocated in respect of the Class B Investor Certificate $ 200,919.15
(c) Aggregate Yield Collections(including Net Interchange) processed during the related Collection
Period allocated in respect of the Collateral Investor Certificate $ 602,757.44
9. Principal Funding Amount
(a) Principal amount in Principal Funding Account on the related Transfer Date $ -
(b) Deficit Controlled Accumulation Amount with respect to the related Collection Period(s) $ -
(c) Principal Funding Investment Proceeds deposited in the Collection Account on the related
Transfer Date(s) $ -
(d) Reserve Draw Amount deposited in the Collection Account on the related Transfer Date(s) from the
Reserve Account $ -
10. Reserve Draw Amount on the related Transfer Date(s) $ -
11. Overconcentration Draw Amount on the related Transfer Date(s) $ -
12. Available Funds
(a) Class A Available Funds on deposit in the Collection Account on the related Transfer Date(s) $ 12,326,697.13
(a) Class B Available Funds on deposit in the Collection Account on the related Transfer Date(s) $ 196,702.61
(a) Collateral Available Funds on deposit in the Collection Account on the related Transfer Date(s) $ 590,107.84
13. Portfolio Yield and Base Rate
(a) Portfolio Yield for the related Collection Period 21.78%
(b) Base Rate for the related Collection Period 7.41%
14. Monthly Payment Rate 91.46%
15. Principal Payment Rate 91.46%
16. Gross Losses as a Percentage of Charge Volume & Fees 0.72%
17. Minimum Transferor's Percentage 12.00%
</TABLE>
FBS Card Services, Inc.
Servicer
By:/s/ Randy L. Ritterman
----------------------
Name: Randy L. Ritterman
Title: Assistant Vice President
<PAGE>
SCHEDULE TO MONTHLY SERVICER'S CERTIFICATE
COLLECTION PERIOD ENDING DECEMBER 31, 1997
FIRST BANK OF SOUTH DAKOTA(NATIONAL ASSOCIATION)
FIRST BANK CORPORATE CARD MASTER TRUST SERIES 1997-1
<TABLE>
<S> <C>
1. Investor Percentage of Principal Collections $ 384,152,145.32
2. Investor Percentage of Yield Collections(ex. Net Interchange) $ 7,839,839.70
3. Investor Percentage of Net Interchange $ 5,554,770.04
4. Servicer Interchange $ 350,000.00
5. The aggregate amount of funds on deposit in Collection Account allocable to Series 1997-1 Certificates $ 494,985,043.26
6. Funds in Principal Funding Account allocable to Series 1997-1 Certificates $ -
7. Aggregate amount paid in accordance with the Loan Agreement pursuant to Section 4.11 $ 103,028.40
8. Required Collateral Invested Amount over the Collateral Invested Amount $ -
9. Collateral Invested Amount $ 18,900,000.00
10. The amount of Monthly Interest, Deficiency Amounts and Additional Interest payable to the
(i) Class A Certificateholders $ -
(ii) Class B Certificateholders $ -
(iii) Collateral Interest Holder $ 103,028.40
11. The amount of principal payable to the
(i) Class A Certificateholders $ -
(ii) Class B Certificateholders $ -
(iii) Collateral Interest Holder $ -
12. The sum of all amounts payable to the
(i) Class A Certificateholders $ -
(ii) Class B Certificateholders $ -
(iii) Collateral Interest Holder $ 103,028.40
13. To the knowledge of the undersigned, no Early Amortization Event has occurred except
as described below:
None
</TABLE>
In witness whereof, the undersigned has duly executed this certificate this 12th
day of January, 1997.
FBS Card Services, Inc.
Servicer
By:/s/ Randy L. Ritterman
----------------------
Name: Randy L. Ritterman
Title: Assistant Vice President
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