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Previous: SENTINEL GROUP FUNDS INC, N-30D, 1997-01-24 |
Next: BOATMENS NATIONAL BANK OF ST LOUIS, 8-K, 1997-01-24 |
<PAGE> 1
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);
JANUARY 15, 1997
BOATMEN'S AUTO TRUST 1995-A
(ISSUER WITH RESPECT TO THE CERTIFICATES & NOTES)
THE BOATMEN'S NATIONAL BANK OF ST. LOUIS
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
UNITED STATES
(STATE OR OTHER JURISDICTION OF ORGANIZATION)
33-95450 37-0762064
(COMMISSION FILE NUMBER) (IRS EMPLOYER IDENTIFICATION NUMBER)
THE BOATMEN'S NATIONAL BANK OF ST. LOUIS
800 MARKET STREET
ATTN: RICHARD E. GRIMMER, ST. LOUIS, MO 63101
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE:
(314) 466-7814
<PAGE> 2
Item 5. Other Events
On January 15, 1997, Boatmen's Auto Trust 1995-A (the "Trust")
made a regular monthly distribution of principal and/or interest
to holders of the Trust's Class A-1 5.7725% Asset Backed Notes,
Class A-2 5.90% Asset Backed Notes, Class A-3 6.10% Asset Backed
Notes, and 6.35% Asset Backed Certificates. Exhibit 99.1 of this
Form 8-K, the Monthly Servicing Report and certain additional
information, was distributed to the Noteholders and
Certificateholders of record.
On October 21, 1995, the Trust filed a request for a no-action
letter with the Securities and Exchange Commission with respect to
certain reports to be filed on behalf of the Trust under the
Securities Exchange Act of 1934 (a revised no-action request was
filed on January 3, 1996). Consistent with such request, the Trust
is hereby filing the Monthly Servicing Report and certain
additional information reflecting the Trust's activities for the
Interest Accrual Period from December 16, 1996 to January 14, 1997
in the case of the Class A-1 Notes, and from December 16, 1996 to
January 14, 1997 in the case of the Class A-2 Notes, Class A-3
Notes and the Certificates, and for the Collection Period from
December 1, 1996 to December 31, 1996.
Item 7. Financial Statements and Exhibits
(a) Not applicable.
(b) Not applicable.
(c) Exhibits:
The following exhibits are filed herewith
99.1 Monthly Servicing Report
99.2 Distribution Date Statement to Certificateholders
99.3 Distribution Date Statement to Noteholders
See page 4 for Exhibit Index
2
<PAGE> 3
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 hereunto duly authorized.
BOATMEN'S AUTO TRUST 1995-A
By: The Boatmen's National Bank of St. Louis as
Servicer on behalf of the Trust
Date: 01/15/97 By: /s/ Richard E. Grimmer
-------- ---------------------------------------
Name Richard E. Grimmer
---------------------------------------
Title Senior Vice President & Controller
---------------------------------------
3
<PAGE> 4
<TABLE>
EXHIBIT INDEX
<CAPTION>
EXHIBIT PAGE
- ------- ----
<C> <S> <C>
99.1 MONTHLY SERVICING REPORT 5
99.2 DISTRIBUTION DATE STATEMENT TO CERTIFICATEHOLDERS 9
99.3 DISTRIBUTION DATE STATEMENT TO NOTEHOLDERS 10
</TABLE>
4
<PAGE> 1
EXHIBIT 99.1
<TABLE>
BOATMEN'S NATIONAL BANK OF ST. LOUIS
MONTHLY SERVICING REPORT - BOATMEN'S AUTO TRUST 1995-A
DECEMBER 1, 1996 THROUGH DECEMBER 31, 1996
<S> <C>
A. ORIGINAL DEAL PARAMETER INPUTS
- ---------------------------------
(A) Total Portfolio Balance $303,441,223.00
(B) Class A-1 Notes
(i) Class A-1 Notes Percentage 28.11%
(ii) Class A-1 Notes Balance $85,300,000.00
(iii) Class A-1 Notes Rate 5.7725%
(C) Class A-2 Notes
(i) Class A-2 Notes Percentage 34.41%
(ii) Class A-2 Notes Balance $104,427,000.00
(iii) Class A-2 Notes Rate 5.90%
(D) Class A-3 Notes
(i) Class A-3 Notes Percentage 33.47%
(ii) Class A-3 Notes Balance $101,576,574.00
(iii) Class A-3 Notes Rate 6.10%
(E) Class B Certificates
(i) Class B Certificates Percentage 4.00%
(ii) Class B Certificates Balance $12,137,649.00
(iii) Class B Certificates Rate 6.35%
(F) Servicing Fee Rate 1.00%
(G) Weighted Average Coupon (WAC) 8.51%
(H) Weighted Average Original Maturity (WAOM) 54.09 months
(I) Weighted Average Remaining Maturity (WAM) 42.79 months
(J) Number of Receivables 32,378
(K) Reserve Account
(i) Reserve Account Initial Deposit Percentage 2.00%
(ii) Reserve Account Initial Deposit $6,068,825.00
(iii) Specified Reserve Account Balance (K(iii)(c) if 1.25% loss and
delinq triggers hit - otherwise greater of K(iii)(a or b))
(a) Percent of Initial Pool Balance 2.00%
(b) Percent of Remaining Pool Balance 3.25%
(c) Trigger Percent of Remaining Pool Balance 6.00%
B. INPUTS FROM PREVIOUS MONTHLY SERVICER REPORTS
- ------------------------------------------------
(A) Total Portfolio Balance $142,822,096.49
(B) Total Note and Certificate Pool Factor 0.4706747
(C) Class A-1 Notes
(i) Class A-1 Notes Balance $0.00
(ii) Class A-1 Notes Pool Factor 0.0000000
(D) Class A-2 Notes
(i) Class A-2 Notes Balance $29,107,873.49
(ii) Class A-2 Notes Pool Factor 0.2787390
(E) Class A-3 Notes
(i) Class A-3 Notes Balance $101,576,574.00
(ii) Class A-3 Notes Pool Factor 1.0000000
(F) Class B Certificates
(i) Class B Certificates Balance $12,137,649.00
(ii) Class B Certificates Pool Factor 1.0000000
(G) Reserve Account Balance $6,068,824.46
(H) Cumulative Net Losses for All Prior Periods $1,127,607.21
(I) Net Loss Ratio for Second Preceding Period 0.18%
(J) Net Loss Ratio for Preceding Period 0.37%
(K) Delinquency Ratio for Second Preceding Period 0.37%
(L) Delinquency Ratio for Preceding Period 0.55%
(M) Weighted Average Coupon (WAC) 8.54%
(N) Weighted Average Remaining Maturity (WAM) 31.42 months
(O) Number of Receivables 21,732
5
<PAGE> 2
<CAPTION>
BOATMEN'S NATIONAL BANK OF ST. LOUIS PAGE 2
MONTHLY SERVICING REPORT - BOATMEN'S AUTO TRUST 1995-A
DECEMBER 1, 1996 THROUGH DECEMBER 31, 1996
<S> <C>
C. INPUTS FROM THE MAINFRAME
- ----------------------------
(A) Simple Interest Receivables Principal
(i) Principal Collections $8,093,758.25
(ii) Prepayments in Full 0.00
(iii) Repurchased Loan Proceeds Related to Principal 0.00
(iv) Other Refunds Related to Principal 0.00
(B) Simple Interest Receivables Interest
(i) Interest Collections 1,090,414.58
(ii) Repurchased Loan Proceeds Related to Interest 0.00
(C) Weighted Average Coupon (WAC) 8.54%
(D) Weighted Average Remaining Maturity (WAM) 30.66 months
(E) Remaining Number of Receivables 21,027
(F) Delinquent Receivables
<CAPTION>
Dollar Amount # Units
------------- --------
<S> <C> <C> <C> <C>
(i) 30-59 Days Delinquent 2,759,438 2.05% 390 1.85%
(ii) 60-89 Days Delinquent 615,322 0.46% 92 0.44%
(iii) 90 Days or More Delinquent 315,961 0.23% 48 0.23%
(G) Repossessions
Dollar Amount # Units
------------- --------
84,824 0.06% 10 0.05%
D. INPUTS DERIVED FROM OTHER SOURCES
- ------------------------------------
<S> <C>
(A) Reserve Account Investment Income $27,031.42
(B) Aggregate Net Losses before Liquidation Proceeds and Recoveries for Collection Period 133,771.99
(C) Liquidated Receivables Information
(i) Liquidation Proceeds Related to Principal 0.00
(ii) Liquidation Proceeds Related to Interest 0.00
(iii) Recoveries on Previously Liquidated Contracts 36,320.03
(D) Aggregate Net Losses for Collection Period 97,451.96
(E) Actual Number of Days in Interest Period 30.00
I. COLLECTIONS
- --------------
Interest:
(A) Interest Collections $1,090,414.58
(B) Liquidation Proceeds Related to Interest 0.00
(C) Repurchased Loan Proceeds Related to Interest 0.00
(D) Recoveries from Prior Month Charge Offs 36,320.03
(E) Investment Earnings from the Reserve Account 27,031.42
(F) Total Interest Collections 1,153,766.03
Principal:
(G) Principal Payments Received $8,093,758.25
(H) Liquidation Proceeds Related to Principal 0.00
(I) Repurchased Loan Proceeds Related to Principal 0.00
(J) Other Refunds Related to Principal 0.00
(K) Total Principal Collections 8,093,758.25
(L) Total Collections $9,247,524.28
<CAPTION>
Per $1,000 of
II. DISTRIBUTIONS Original Balance
- ----------------- ----------------
<S> <C> <C>
(A) Total Interest Collections $1,153,766.03
(B) Servicing Fee $119,018.41 0.39
Per $1,000 of
Interest Original Balance
(C) Class A-1 Notes Monthly Interest ----------------
(i) Class A-1 Notes Monthly Interest Due $0.00 0
(ii) Class A-1 Notes Monthly Interest Paid (after reserve fund draw) 0.00 0
-----------------
(iii) Class A-1 Notes Monthly Interest Shortfall (after reserve fund draw) $0.00 0
(D) Class A-2 Notes Monthly Interest
(i) Class A-2 Notes Monthly Interest Due $143,113.71 1.370466559
(ii) Class A-2 Notes Monthly Interest Paid (after reserve fund draw) 143,113.71 1.370466559
-----------------
(iii) Class A-2 Notes Monthly Interest Shortfall (after reserve fund draw) $0.00 0
6
<PAGE> 3
<CAPTION>
BOATMEN'S NATIONAL BANK OF ST. LOUIS PAGE 3
MONTHLY SERVICING REPORT - BOATMEN'S AUTO TRUST 1995-A
DECEMBER 1, 1996 THROUGH DECEMBER 31, 1996
<S> <C> <C>
(E) Class A-3 Notes Monthly Interest
(i) Class A-3 Notes Monthly Interest Due $516,347.58 5.083333333
(ii) Class A-3 Notes Monthly Interest Paid (after reserve fund draw) 516,347.58 5.083333333
---------------
(iii) Class A-3 Notes Monthly Interest Shortfall (after reserve fund draw) $0.00 0
(F) Class B Certificates Monthly Interest
(i) Class B Certificates Monthly Interest Due $64,228.39 5.291666667
(ii) Class B Certificates Monthly Interest Paid (after reserve fund draw) 64,228.39 5.291666667
---------------
(iii) Class B Certificates Monthly Interest Shortfall (after reserve fund draw) $0.00 0
(G) Total Note and Certificate Interest Paid (after reserve fund draw) $723,689.69
(H) Excess Interest $311,057.93
Principal
(I) Total Principal Collections $8,093,758.25
(J) Draw on Reserve Fund for realized losses 133,771.99
(K) Total Amount Available for Principal Distribution $8,227,530.24 Per $1,000 of
(L) Class A-1 Notes Monthly Principal Original Balance
----------------
(i) Class A-1 Notes Monthly Principal Due 0.00 0
(ii) Class A-1 Notes Monthly Principal Paid (after reserve fund draw) 0.00 0
(iii) Class A-1 Notes Monthly Principal Shortfall (after reserve fund draw) 0.00 0
(M) Class A-2 Notes Monthly Principal
(i) Class A-2 Notes Monthly Principal Due 8,227,530.24 78.78738487
(ii) Class A-2 Notes Monthly Principal Paid (after reserve fund draw) 8,227,530.24 78.78738487
---------------
(iii) Class A-2 Notes Monthly Principal Shortfall (after reserve fund draw) 0.00 0
(N) Class A-3 Notes Monthly Principal
(i) Class A-3 Notes Monthly Principal Due 0.00 0
(ii) Class A-3 Notes Monthly Principal Paid (after reserve fund draw) 0.00 0
(iii) Class A-3 Notes Monthly Principal Shortfall (after reserve fund draw) 0.00 0
(O) Class B Certificates Monthly Principal
(i) Class B Certificates Monthly Principal Due 0.00 0
(ii) Class B Certificates Monthly Principal Paid (after reserve fund draw) 0.00 0
(iii) Class B Certificates Monthly Principal Shortfall (after reserve fund draw) 0.00 0
(P) Total Note and Certificate Principal Paid 8,227,530.24
(Q) Total Distributions 9,070,238.34
(R) Excess Servicing Releases from Reserve Account to Servicer 177,285.94
(S) Amount of Draw from Reserve Account 133,771.99
(T) Draw from Reserve Account plus Total Available Amount 9,381,296.27
<CAPTION>
III. POOL BALANCES AND PORTFOLIO INFORMATION
- -------------------------------------------- Beginning End
of Period of Period
----------------------- -----------------
<S> <C> <C>
(A) Balances and Principal Factors
(i) Total Portfolio Balance $142,822,096.49 $134,594,566.25
(ii) Total Note and Certificate Pool Factor 0.4706747 0.4435606
(iii) Class A-1 Notes Balance 0.00 0.00
(iv) Class A-1 Notes Pool Factor 0.0000000 0.0000000
(v) Class A-2 Notes Balance 29,107,873.49 20,880,343.25
(vi) Class A-2 Notes Pool Factor 0.2787390 0.1999516
(vii) Class A-3 Notes Balance 101,576,574.00 101,576,574.00
(viii) Class A-3 Notes Pool Factor 1.0000000 1.0000000
(ix) Class B Certificates Balance 12,137,649.00 12,137,649.00
(x) Class B Certificate Pool Factor 1.0000000 1.0000000
(B) Portfolio Information
(i) Weighted Average Coupon (WAC) 8.54% 8.54%
(ii) Weighted Average Remaining Maturity (WAM) 31.42 months 30.66 months
(iii) Remaining Number of Receivables 21,732 21,027
(iv) Portfolio Receivable Balance $142,822,096.49 $134,594,566.25
<CAPTION>
<S> <C>
IV. RECONCILIATION OF RESERVE ACCOUNT
- -------------------------------------
(A) Beginning Reserve Account Balance $6,068,824.46
(B) Draw for Realized losses 133,771.99
(C) Draw for Servicing Fee 0.00
(D) Draw for Class A-1 Notes Interest Amount 0.00
(E) Draw for Class A-2 Notes Interest Amount 0.00
(F) Draw for Class A-3 Notes Interest Amount 0.00
(G) Draw for Class B Certificates Interest Amount 0.00
(H) Total Draw for Losses, Servicing, Notes and Certificates 133,771.99
(I) Excess Interest 311,057.93
(J) Reserve Account Balance Prior to Release 6,246,110.40
7
<PAGE> 4
BOATMEN'S NATIONAL BANK OF ST. LOUIS PAGE 4
MONTHLY SERVICING REPORT - BOATMEN'S AUTO TRUST 1995-A
DECEMBER 1, 1996 THROUGH DECEMBER 31, 1996
(K) Reserve Account Required Amount 6,068,824.46
(L) Final Reserve Account Required Amount 6,068,824.46
(M) Reserve Account Release to Servicer 177,285.94
(N) Ending Reserve Account Balance 6,068,824.46
V. NET LOSS AND DELINQUENCY ACCOUNT ACTIVITY
- --------------------------------------------
(A) Aggregate Net Losses before Liquidation Proceeds and Recoveries for Collection Period $133,771.99
(B) Liquidated Contracts
(i) Liquidation Proceeds Related to Principal 0.00
(ii) Liquidation Proceeds Related to Interest 0.00
(iii) Recoveries on Previously Liquidated Contracts 36,320.03
(C) Aggregate Net Losses for Collection Period 97,451.96
(D) Net Loss Ratio for Collection Period (annualized) 0.84%
(E) Cumulative Net Losses for all Periods 1,225,059.17
<CAPTION>
(F) Delinquent Receivables
Dollar Amount # Units
------------- --------
<S> <C> <C> <C> <C>
(i) 30-59 Days Delinquent 2,759,438 2.05% 390 1.85%
(ii) 60-89 Days Delinquent 615,322 0.46% 92 0.44%
(iii) 90 Days or More Delinquent 315,961 0.23% 48 0.23%
<CAPTION>
(G) Repossessions
Dollar Amount # Units
------------- --------
<S> <C> <C> <C> <C>
84,824 0.06% 10 0.05%
<CAPTION>
VI. TESTS FOR INCREASE IN SPECIFIED RESERVE ACCOUNT BALANCE
- -----------------------------------------------------------
<S> <C>
(A) Ratio of Net Losses to the Average Pool Balance
(i) Second Preceding Collection Period 0.18%
(ii) Preceding Collection Period 0.37%
(iii) Current Collection Period 0.84%
(iv) Three Month Average (Avg(i,ii,iii)) 0.46%
(B) Ratio of Balance of Contracts Delinquent 60 Days or More
to the Outstanding Balance of Receivables.
(i) Second Preceding Collection Period 0.37%
(ii) Preceding Collection Period 0.55%
(iii) Current Collection Period 0.69%
(iv) Three Month Average (Avg(i,ii,iii)) 0.54%
(C) Loss and Delinquency Trigger Indicator Trigger was not hit
</TABLE>
The undersigned officers of The Boatmen's National Bank of St. Louis, as
servicer, pursuant to the Sale and Servicing Agreement hereby certify to the
best of their knowledge and belief that the above information is true and
correct.
/s/ Richard E. Grimmer /s/ James D. Rudolphi
- --------------------------------------- ----------------------------
Richard E. Grimmer James D. Rudolphi
Senior Vice President and Controller Vice President
8
<PAGE> 1
EXHIBIT A
<TABLE>
THE BOATMEN'S NATIONAL BANK OF ST. LOUIS
BOATMEN'S AUTO TRUST 1995-A DISTRIBUTION DATE STATEMENT TO
CERTIFICATEHOLDERS
JANUARY 15, 1997
<S> <C>
Principal Distribution Amount $0.00
Principal Per $1,000 Certificate $0.00
Interest Distribution Amount $64,228
Interest Per $1,000 Certificate $5.29
Note Balance:
Class A-1 Notes $0.00
Class A-2 Notes $20,880,343.25
Class A-3 Notes $101,576,574.00
Note Pool Factor:
Class A-1 Notes 0.0000000
Class A-2 Notes 0.1999516
Class A-3 Notes 1.0000000
Certificate Balance $12,137,649.00
Certificate Pool Factor 1.0000000
Servicing Fee $119,018.41
Servicing Fee Per $1,000 Certificate $0.39
</TABLE>
9
<PAGE> 1
EXHIBIT B
<TABLE>
THE BOATMEN'S NATIONAL BANK OF ST. LOUIS
BOATMEN'S AUTO TRUST 1995-A DISTRIBUTION DATE STATEMENT TO
NOTEHOLDERS
JANUARY 15, 1997
<S> <C>
Principal Distribution Amount
Class A-1 Notes: $0.00 ($ 0.00 per $1,000 original principal amount)
Class A-2 Notes: $8,227,530.24 ($78.79 per $1,000 original principal amount)
Class A-3 Notes: $0.00 ($ 0.00 per $1,000 original principal amount)
Interest Distribution Amount
Class A-1 Notes: $0.00 ($0.00 per $1,000 original principal amount)
Class A-2 Notes: $143,113.71 ($1.37 per $1,000 original principal amount)
Class A-3 Notes: $516,347.58 ($5.08 per $1,000 original principal amount)
Note Balance:
Class A-1 Notes $0.00
Class A-2 Notes $20,880,343.25
Class A-3 Notes $101,576,574.00
Note Pool Factor:
Class A-1 Notes 0.0000000
Class A-2 Notes 0.1999516
Class A-3 Notes 1.0000000
Certificate Balance $12,137,649.00
Certificate Pool Factor 1.0000000
Servicing Fee $119,018.41
Servicing Fee Per $1,000 Note $0.39
</TABLE>
10
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