<PAGE>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) APRIL 12, 1999
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FIRST USA BANK, NATIONAL ASSOCIATION
(AS SUCCESSOR TO FIRST NATIONAL BANK OF COMMERCE)
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(Exact name of registrant as specified in its charter)
(AS SERVICER ON BEHALF OF FIRST NBC CREDIT CARD MASTER TRUST)
UNITED STATES
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(State or other jurisdiction of incorporation)
333-24023 76-0039224
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(Commission File Number) (IRS Employer Identification Number)
201 NORTH WALNUT STREET, WILMINGTON, DELAWARE 19801
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(Address of principal executive offices) (Zip Code)
(302) 594--4117
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Registrant's telephone number, including area code
N/A
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(Former name, former address and former fiscal year, if changed since last
report)
<PAGE>
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits.
EXHIBIT NO. DOCUMENT DESCRIPTION
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(20.1) Monthly Servicer's Certificate, Series 1997-1
(20.2) Monthly Holders' Statement, Series 1997-1
<PAGE>
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 thereunto duly authorized.
FIRST USA BANK, NATIONAL ASSOCIATION, AS SERVICER, ON
BEHALF OF FIRST NBC CREDIT CARD MASTER TRUST,
By: /s/ Tracie H. Klein
-----------------------------------
Name: Tracie H. Klein
Title: First Vice President
Date: April 23, 1999
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<PAGE>
INDEX TO EXHIBITS
EXHIBIT NO. DOCUMENT DESCRIPTION SEQUENTIAL PAGE NO.
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20.1 Monthly Servicer's Certificate, Series 1997-1 5
20.2 Monthly Holders' Statement, Series 1997-1 10
<PAGE>
EXHIBIT 20.1
MONTHLY SERVICER'S CERTIFICATE
FIRST USA BANK, N.A.
FIRST NBC CREDIT CARD MASTER TRUST
SERIES 1997-1
FOR THE APRIL 12, 1999 DETERMINATION DATE
FOR THE 20TH MONTHLY PERIOD
The undersigned, a duly authorized representative of First USA Bank, N.A., (the
"Bank"), pursuant to the Pooling and Servicing Agreement (the "Pooling and
Servicing Agreement"), dated as of August 1, 1997 by and between the Bank, as
successor Transferor and Servicer to Bank One Louisiana, N.A. (as successor to
the First National Bank of Commerce ("First NBC")) and The First National Bank
of Chicago, as Trustee, does hereby certify as follows:
1 Capitalized terms used in this Certificate have their respective meanings
as set forth in the Pooling and Servicing Agreement; provided, that the
"preceding Monthly Period" shall mean the Monthly Period immediately
preceding the calendar month in which this Certificate is delivered. This
Certificate is delivered pursuant to subsection 3.4(b) of the Pooling and
Servicing Agreement. References herein to certain sections and subsections
are references to the respective sections and subsections of the Pooling
and Servicing Agreement, as amended by the applicable Series Supplement.
2 First USA Bank, N.A. is Servicer under the Pooling and Servicing Agreement.
3 The undersigned is a Servicing Officer.
4 The date of this Certificate is April 12, 1999, which is a Determination
Date under the Pooling and Servicing Agreement.
5 The aggregate amount of Collections processed during the preceding Monthly
Period [equal to 5(a) plus 5(b)] was $133,191,979
(a) The aggregate amount of Collections of Finance Charge Receivables
collected during the preceding Monthly Period the Collections of
Finance Charge Receivables $13,606,679
(b) The aggregate amount of Collections of Principal Receivables collected
during the preceding Monthly Period the Collections of Principal
Receivables was $119,585,299
6 The aggregate amount of Receivables as of the end of the last day of the
preceding Monthly Period was $890,600,345
7 Included is an authentic copy of the statements required to be delivered by
the Servicer on the date of this Certificate to the Paying Agent pursuant
to Article V.
8 To the knowledge of the undersigned, there are no liens on any Receivables
in the Trust except as described below:
None.
9 The amount, if any, by which the sum of the balance of the Excess Funding
Account and the Aggregate Principal Receivables exceeds the Minimum
Aggregate Principal Receivables required to be maintained pursuant to the
Pooling and Servicing Agreement, is equal to $176,662,326
10 The amount, if any, of the withdrawal of the Specified Deposit from the
Finance Charge Account required to be made by the Trustee pursuant to
subsection 4.3(a) of the Pooling and Servicing Agreement on the related
Transfer Date is $0.00
<PAGE>
Monthly Servicer's Certificate
Page 2 (all amounts in dollars except percentages)
11 Monthly Period Trust Activity
(a) Trust Activity Total Trust
=========================================== ==================
Beginning Aggregate Principal Receivables 889,728,723
Beginning Excess Funding Account Balance 0
Beginning Total Principal Balance 889,728,723
Collections of Finance Charge Receivables 13,606,679
Discount Percentage 0
Discount Option Receivables Collections 0
Net Recoveries 0
Total Collections of Finance Charge Receivables 13,606,679
Total Collections of Principal Receivables 119,585,299
Net Default Amount 3,392,249
Minimum Aggregate Principal Receivables Balance 700,000,000
Ending Aggregate Principal Receivables 876,662,326
Ending Excess Funding Account Balance 0
Ending Total Principal Balance 876,662,326
<TABLE>
<CAPTION>
(b) Series Allocations Series 1997-1 Series 1998-1 All Series
============================================ =============================================================
<S> <C> <C> <C>
Group Number 1 2
Investor Interest 300,000,000 400,000,000 700,000,000
Adjusted Investor Interest 300,000,000 400,000,000 700,000,000
Principal Funding Account Balance 0 0 0
Minimum Transferor Interest 61,366,363
(c) Group I Allocations Series 1997-1 Total Group I
============================================ =====================================
Investor Finance Charge Collections 4,587,920 4,587,920
Investor Monthly Interest 1,534,067 1,534,067
Investor Monthly Fees (Servicing Fee) 375,000 375,000
Investor Default Amounts 1,143,803 1,143,803
Investor Additional Amounts 0 0
Total 3,052,871 3,052,871
Reallocated Investor Finance Charge Collections 4,587,920 4,587,920
Available Excess 1,535,049 1,535,049
12 Series 1997-1 Certificates
Series 1997-1 All Other Transferor's
(a) Investor/Transferor Allocations Trust Interest Series Interest
=======================================================================================================================
Beginning Investor/Transferor Amounts 889,728,723 300,000,000 400,000,000 189,728,723
Beginning Adjusted Investor Interest 889,728,723 300,000,000 400,000,000
Floating Investor Percentage 100.00000% 33.718143% 44.957524%
Fixed Investor Percentage 0.00000% 0.00000% 0.00000%
Collections of Finance Chg. Receivables 13,606,679 4,587,920 6,117,226
Collections of Principal Receivables 119,585,299 40,321,942 53,762,589
Net Default Amount 3,392,249 1,143,803 1,525,071
Ending Investor/Transferor Amounts 876,662,326 300,000,000 400,000,000 176,662,326
</TABLE>
<PAGE>
Monthly Servicer's Certificate
Page 3 (all amounts in dollars except percentages)
<TABLE>
<CAPTION>
Collateral
(b) Monthly Period Funding Requirements Class A Class B Interest Total
=======================================================================================================================
<S> <C> <C> <C> <C>
Principal Funding Account 0 0 0 0
Principal Funding Investment Proceeds 0 0 0 0
Withdrawal from Reserve Account 0 0 0 0
Available Reserve Account Amount 0 0 0 0
Required Reserve Account Amount 0 0 0 0
Coupon 6.15000% 6.35000% 5.53875% 6.12427%
Floating Investor Percentage 29.16619% 2.36027% 2.19168% 33.71814%
Fixed Investor Percentage 0 0 0 0
Investor Monthly Interest 1,329,938 111,125 93,005 1,534,067
Overdue Monthly Interest 0 0 0 0
Additional Interest 0 0 0 0
Total Interest Due 1,329,938 111,125 93,005 1,534,067
Investor Default Amounts 989,390 80,066 74,347 1,143,803
Investor Monthly Fees 324,375 26,250 24,375 375,000
Investor Additional Amounts 0 0 0 0
Total Due 2,643,702 217,441 191,727 3,052,871
Collateral
(c) Certificates - Balances and Distributions Class A Class B Interest Total
=======================================================================================================================
Beginning Investor Interest 259,500,000 21,000,000 19,500,000 300,000,000
Monthly Principal-Prin. Funding Account 0 0 0 0
Principal Payments 0 0 0 0
Interest Payments 1,329,938 111,125 93,005 1,534,067
Total Payments 1,329,938 111,125 93,005 1,534,067
Ending Investor Interest 259,500,000 21,000,000 19,500,000 300,000,000
(d) Information regarding Payments in respect of the Class A Certificates
(per $1,000 original certificate principal amount)
1. Total Payment 5.125000
2. Amount of Payment in respect of Class A Monthly Interest 5.125000
3. Amount of Payment in respect of Class A Overdue Monthly Interest 0
4. Amount of Payment in respect of Class A Additional Interest 0
5. Amount of Payment in respect of Class A Principal 0
(e) Class A Investor Charge-Offs/Reimbursement of Class A Investor Charge-Offs
1. Total amount of Class A Investor Charge-Offs 0
2. Amount of Class A Investor Charge-Offs per $1,000 original certificate principal amount 0
3. Total amount reimbursed in respect of Class A Investor Charge-Offs 0
4. Amount reimbursed in respect of Class A Investor Charge-Offs per $1,000 original
principal amount 0
5. The amount, if any, by which the outstanding Principal Balance of the Class A
Certificates exceeds the Class A Adjusted Investor Interest after giving effect to all
transactions on such Distribution Date 0
(f) Information regarding Payments in respect of the Class B Certificates
(per $1,000 original certificate principal amount)
1. Total Payment 5.291667
2. Amount of Payment in respect of Class B Monthly Interest 5.291667
3. Amount of Payment in respect of Class B Overdue Monthly Interest 0
4. Amount of Payment in respect of Class B Additional Interest 0
5. Amount of Payment in respect of Class B Principal 0
</TABLE>
<PAGE>
Monthly Servicer's Certificate
Page 4 (all amounts in dollars except percentages)
<TABLE>
<S> <C>
(g) Amount of reductions in Class B Investor Interest pursuant to clauses
(c), (d) and (e) of the definition of Class B Investor Interest
1. Amount of reductions in Class B Investor Interest 0
2. Amount of reductions in Class B Investor Interest per $1,000 original certificate
principal amount 0
3. Total amount reimbursed in respect of reductions of Class B Investor Interest 0
4. Amount reimbursed in respect of reductions of Class B Investor Interest per
$1,000 original certificate principal amount 0
5. The amount, if any, by which the outstanding Principal Balance of the Class B
Certificates exceeds the Class B Investor Interest after giving effect to all
transactions on such Distribution Date 0
(h) Information regarding Distribution in respect of the Collateral Interest
1. Total distribution 4.769479
2. Amount of distribution in respect of Collateral Monthly Interest 4.769479
3. Amount of distribution in respect of Collateral Overdue Interest 0
4. Amount of distribution in respect of Collateral Monthly Principal 0
(i) Amount of reductions in Collateral Interest pursuant to clauses (c), (d)
and (e) of the definition of Collateral Interest
1. Amount of reductions in Collateral Interest 0
2. Total amount reimbursed in respect of reductions of Collateral Interest 0
(j) Application of Reallocated Investor Finance Charge Collections
1. Class A Available Funds 3,968,550
a. Class A Monthly Interest 1,329,938
b. Class A Overdue Monthly Interest 0
c. Class A Additional Interest 0
d. Class A Servicing Fee 324,375
e. Class A Investor Default Amount 989,390
f. Excess Spread 1,324,848
2. Class B Available Funds 321,154
a. Class B Monthly Interest 111,125
b. Class B Overdue Monthly Interest 0
c. Class B Additional Interest 0
d. Class B Servicing Fee 26,250
e. Excess Spread 183,779
3. Collateral Holder Available Funds 298,215
a. Excess Spread 298,215
4. Total Excess Spread 1,806,842
</TABLE>
<PAGE>
Monthly Servicer's Certificate
Page 5 (all amounts in dollars except percentages)
<TABLE>
<S> <C>
(k) Application of Excess Spread and Excess Finance Charge Collections Allocated to Series 1997-1
1. Beginning Excess Spread 1,806,842
2. Excess Finance Charge Collections 0
3. Applied to fund Class A Required Amount 0
4. Unreimbursed Class A Investor Charge-Offs 0
5. Applied to fund Class B Required Amount 80,066
6. Reductions of Class B Investor Interest treated as Available Principal Collections 0
7. Applied to Collateral Monthly Interest and unpaid Collateral Monthly Interest 93,005
8. Applied to Collateral Interest Servicing Fee and any overdue Collateral Interest Servicing Fee 24,375
9. Collateral Investor Default Amount treated as Available Principal Collections 74,347
10. Reductions of Collateral Interest treated as Available Principal Collections 0
11. Deposit to Reserve Account (if required) 0
12. Applied to other amounts owed to Collateral Interest Holder 0
13. Balance to constitute Excess Finance Charge Collections for other series 1,535,049
13 Trust Performance
(a) Delinquencies
1. 30-59 days 12,583,328
2. 60-89 days 7,672,600
3. 90 days and over 16,632,043
4. Total 30+ days delinquent 36,887,970
(b) Base Rate
a. Current Monthly Period 8.13627%
b. Prior Monthly Period 8.08808%
c. Second Prior Monthly Period 8.15252%
(c) Three Month Average Base Rate 8.12562%
(d) Portfolio Yield (gross portfolio yield less net defaults)
a. Current Monthly Period 13.77647%
b. Prior Monthly Period 15.64093%
c. Second Prior Monthly Period 13.64177%
(e) Three Month Average Portfolio Yield 14.35306%
(f) Excess Spread Percentage
a. Current Monthly Period 6.14020%
b. Prior Monthly Period 8.05285%
c. Second Prior Monthly Period 5.98926%
(g) Three Month Average Excess Spread Percentage 6.72743%
(h) Monthly Payment Rate (total collections/beginning aggregate principal receivables) 14.96995%
(i) Portfolio Adjusted Yield 5.64020%
</TABLE>
IN WITNESS WHEREOF, the undersigned has duly executed and delivered this
certificate this 12th day of April
First USA Bank, N.A., as Servicer
By: /s/ Tracie Klein
-------------------------
Name: Tracie Klein
Title: First Vice President
<PAGE>
EXHIBIT 20.2
MONTHLY HOLDERS' STATEMENT
FIRST USA BANK, N.A.
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FIRST NBC CREDIT CARD MASTER TRUST
SERIES 1997-1
APRIL 12, 1999
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Under the Pooling and Servicing Agreement (the "Pooling and Servicing
Agreement") dated as of August 1, 1997 by and between First USA Bank, N.A. as
successor Transferor and Servicer to Bank One Louisiana, N.A. (as successor to
First National Bank of Commerce ("FNBC")), and The First National Bank of
Chicago, as Trustee, (the "Trustee"), as amended and supplemented by the Series
1997-1 Supplement dated as of August 1, 1997 by and between First USA Bank, N.A.
and the Trustee, First USA Bank, N.A., as Servicer, is required to prepare
certain information for each Distribution Date regarding current distributions
to Certificateholders and the performance of the First NBC Credit Card Master
Trust ("the Trust") during the previous period. The information which is
required to be prepared with respect to the Distribution of the April 15, 1999
Distribution Date, and with respect to the performance of the Trust during the
Month endiMarch-99 is set forth below. Certain of the information is presented
on the basis of an original principal amount of $1,000 per Series 1997-1
Certificate (a "Certificate"). Certain other information is presented based on
the aggregate amounts for the Trust as a whole. Capitalized terms used in this
Monthly Statement have their respective meanings set forth in the Pooling and
Servicing Agreement and the Supplement.
<TABLE>
<S> <C>
A Series 1997-1 Certificates
1 Information regarding Payments in respect of the Class A
Certificates (per $1,000 original certificate principal amount)
a Total Payment 5.125000
b Amount of Payment in respect of Class A Monthly Interest 5.125000
c Amount of Payment in respect of Class A Overdue Monthly Interest -
d Amount of Payment in respect of Class A Additional Interest -
e Amount of Payment in respect of Class A Principal -
2 Class A Investor Charge-Offs/Reimbursement of Class A Investor Charge-Offs
a Total amount of Class A Investor Charge-Offs -
b Amount of Class A Investor Charge-Offs per $1,000 original certificate principal amount -
c Total amount reimbursed in respect of Class A Investor Charge-Offs -
d Amount reimbursed in respect of Class A Investor Charge-Offs per $1,000 original
principal amount -
e The amount, if any, by which the outstanding Principal Balance of the Class A
Certificates exceeds the Class A Adjusted Investor Interest after giving effect to all
transactions on such Distribution Date -
3 Information regarding Payments in respect of the Class B
Certificates (per $1,000 original certificate principal amount)
a Total Payment 5.291667
b Amount of Payment in respect of Class B Monthly Interest 5.291667
c Amount of Payment in respect of Class B Overdue Monthly Interest -
d Amount of Payment in respect of Class B Additional Interest -
e Amount of Payment in respect of Class B Principal -
4 Amount of reductions in Class B Investor Interest pursuant to
clauses (c), (d) and (e) of the definition of Class B Investor Interest
a Amount of reductions in Class B Investor Interest -
b Amount of reductions in Class B Investor Interest per $1,000 original certificate
principal amount -
c Total amount reimbursed in respect of reductions of Class B Investor Interest -
d Amount reimbursed in respect of reductions of Class B Investor Interest per
$1,000 original certificate principal amount -
e The amount, if any, by which the outstanding Principal Balance of the Class B
Certificates exceeds the Class B Investor Interest after giving effect to all
transactions on such Distribution Date -
</TABLE>
<PAGE>
Monthly Holders' Statement
Page 2 (all amounts in dollars except percentages)
<TABLE>
<S> <C>
5 Information regarding Distribution in respect of the Collateral Interest
a Total distribution 4.769479
b Amount of distribution in respect of Collateral Monthly Interest 4.769479
c Amount of distribution in respect of Collateral Overdue Interest -
d Amount of distribution in respect of Collateral Monthly Principal -
6 Amount of reductions in Collateral Interest pursuant to clauses
(c), (d) and (e) of the definition of Collateral Interest
a Amount of reductions in Collateral Interest -
b Total amount reimbursed in respect of reductions of Collateral Interest -
B Trust Performance
1 Delinquencies
a 30-59 days 12,583,328
b 60-89 days 7,672,600
c 90 days and over 16,632,043
d Total 30+ days delinquent 36,887,970
2 Base Rate
a Current Monthly Period 8.13627%
b Prior Monthly Period 8.08808%
c Second Prior Monthly Period 8.15252%
3 Three Month Average Base Rate 8.12562%
4 Portfolio Yield (gross portfolio yield less net defaults)
a Current Monthly Period 13.77647%
b Prior Monthly Period 15.64093%
c Second Prior Monthly Period 13.64177%
5 Three Month Average Portfolio Yield 14.35306%
6 Excess Spread Percentage
a Current Monthly Period 6.14020%
b Prior Monthly Period 8.05285%
c Second Prior Monthly Period 5.98926%
7 Three Month Average Excess Spread Percentage 6.72743%
8 Monthly Payment Rate (total collections/beginning aggregate principal receivables) 14.96995%
9 Portfolio Adjusted Yield 5.64020%
</TABLE>
First USA Bank, N.A. as Servicer
By: /s/ Tracie Klein
-----------------------------
Name: Tracie Klein
Title: First Vice President
