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Previous: US OFFICE PRODUCTS CO, S-3/A, 1997-01-30 |
Next: GLOBUS CELLULAR & USER PROTECTION LTD, NT 10-K, 1997-01-30 |
<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: January 29, 1997
MERCANTILE CREDIT CARD MASTER TRUSTS
(Exact name of registrant as specified in its charter)
New York 33-89380-01 37-0152681
- --------------------------- ------------------------ ----------------------
(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification Number)
Mercantile Bank of Illinois
National Association
140 West Hawthorne
Hartford, Illinois 62048
- ----------------------------------------- --------------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code:
(618) 251-2035
<PAGE> 2
ITEM 5. OTHER EVENTS.
-------------
The 1996 Annual Report to investors was delivered to the trustee
of the Mercantile Credit Card Master Trust on January 29, 1997.
ITEM 7. EXHIBITS.
---------
The following is filed as an exhibit to this Report.
Exhibit 1 Annual Report to Floating Rate Credit Card
Participation Certificates, Series 1995-1, investors
for the total year 1996.
<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 thereunto duly authorized.
Mercantile Bank of Illinois
National Association, Servicer
By: /s/ Daniel J. Trueman
---------------------
Name: Daniel J. Trueman
Title: Vice President
Date: January 29, 1997
<PAGE> 4
INDEX TO EXHIBITS
-----------------
Exhibit
Number Exhibits
- ------ --------
1 Annual Report to Floating Rate
Credit Card Participation Certificates,
Series 1995-1, investors for the total
year 1996.
<PAGE> 1
ANNUAL CERTIFICATEHOLDER'S STATEMENT
MERCANTILE BANK OF ILLINOIS NATIONAL ASSOCIATION
MERCANTILE CREDIT CARD MASTER TRUST SERIES 1995-1
Total Year 1996
Under the Amended and Restated Pooling and Servicing Agreement dated as of
May 10, 1995 (the "Master Agreement"), by and between Mercantile Bank of
Illinois National Association ("Mercantile"), as Seller and Servicer, and
Chase Manhattan Bank, as trustee, as supplemented by the Series 1995-1
Supplement dated as of May 10, 1995 (the "Supplement," and together with the
Master Agreement, the "Agreement"), between Mercantile and the Trustee,
Mercantile, as Servicer, is required to prepare certain information each
month regarding current distributions to all Series 1995-1
Certificateholders. This relates to the Distribution Date (the
"Distribution Date") and the performance of the Mercantile Credit Card
Master Trust (the "Trust") during the annual Period (the "Annual Period").
Certain of the information is presented on the basis of an original
principal amount of $1,000 per Series 1995-1 Certificate. Certain other
information is presented based on the aggregate amounts for the Trust as a
whole. All capitalized terms used herein shall have the respective meanings
set forth in the Agreement.
<TABLE>
<S> <C>
1) The total amount of the distribution on the Distribution Date per $1,000 original
principal amount of the Class A Certificates $57.28
---------------
2) The total amount of the distribution on the Distribution Date per $1,000 original
principal amount of the Class B Certificates $58.80
---------------
3) The amount of the distribution set forth in paragraph 1 above in respect of
principal per $1,000 original principal amount of the Class A Certificates $0.00
---------------
4) The amount of the distribution set forth in paragraph 2 above in respect of
principal per $1,000 original principal amount of the Class B Certificates $0.00
---------------
5) The amount of distribution set forth in paragraph 1 above in respect of interest
per $1,000 original principal amount of the Class A Certificates $57.28
---------------
6) The amount of distribution set forth in paragraph 2 above in respect of interest
per $1,000 original principal amount of the Class B Certificates $58.80
---------------
7) The aggregate principal receivables for the Trust as of the end of the last day of
the year $672,136,590
---------------
8) The aggregate receivables for the Trust as of the end of the last day of the
year $703,864,571
---------------
9) The aggregate collections for the Trust with respect to the annual period $868,904,964
---------------
10) The aggregate principal collections for the Trust with respect to the annual
period $724,456,445
---------------
11) The aggregate finance charges collections for the Trust with respect to the annual
period $144,448,518
---------------
12) The aggregate purchases made for the Trust with respect to the annual period $449,320,262
---------------
13) The aggregate default of receivables for the Trust with respect to the annual
period $67,008,846
---------------
14) The aggregate credit recoveries for the Trust with respect to the annual period $4,023,671
---------------
15) The aggregate amount of Collections of Receivables processed for the annual
period which were allocated in respect of the Series 1995-1 Certificates $493,546,363
---------------
16) The aggregate amount of Collections of Principal Receivables processed during
the annual period and allocated in respect of the Series 1995-1 Certificates $411,160,543
---------------
1
<PAGE> 2
ANNUAL CERTIFICATEHOLDER'S STATEMENT
MERCANTILE BANK OF ILLINOIS NATIONAL ASSOCIATION
MERCANTILE CREDIT CARD MASTER TRUST SERIES 1995-1
Total Year 1996
17) The aggregate amount of Reallocated Principal Collections with respect to the
annual period $0
---------------
18) The aggregate amount of Collections of Finance Charge Receivables processed
during the annual period and allocated in respect of the Class A Certificates $66,732,587
---------------
19) The aggregate amount of Collections of Finance Charge Receivables processed
during the annual period and allocated in respect of the Class B Certificates $8,238,591
---------------
20) The Principal Percentage(s) during the annual period (Class A) 81.00%
---------------
(Class B) 10.00%
---------------
21) The Floating Allocation Percentage(s) at the beginning of the year (Class A) 42.02%
---------------
(Class B) 5.19%
---------------
22) The aggregate outstanding balances of Accounts that are delinquent as of
the end of the annual period are
(1 - 29 days) $40,945,110
---------------
(30 - 59 days) $11,058,167
---------------
(60 - 89 days) $6,717,967
---------------
(90 - 119 days) $5,210,252
---------------
(120 - 149 days) $5,002,410
---------------
(150 - 179 days) $4,289,267
---------------
(180 or more) $293,094
---------------
23) The Class A Investor Default Amount for the annual period is $30,909,372
---------------
24) The Class B Investor Default Amount for the annual period is $3,815,972
---------------
25) The aggregate amount of Class A Investor Charge-Offs for the annual period is $0
---------------
26) The aggregate amount of Class B Investor Charge-Offs for the annual period is $0
---------------
27) The aggregate amount of Class A Investor Charge-Offs reimbursed on the
Distribution Date is $0
---------------
28) The aggregate amount of Class B Investor Charge-Offs reimbursed on the
Distribution Date is $0
---------------
29) The amount of Class A Servicing Fee for the annual period is $6,480,000
---------------
30) The amount of Class B Servicing Fee for the annual period is $800,000
---------------
31) The Class A Pool Factor as of the Record Date for the Distribution Date 1.0000000
---------------
32) The Class B Pool Factor as of the Record Date for the Distribution Date 1.0000000
---------------
33) The Class A Invested Amount after giving effect to any payments on the
Distribution Date is $324,000,000
---------------
34) The Class B Invested Amount after giving effect to any payments on the
Distribution Date is $40,000,000
---------------
35) The amount, if any, by which the outstanding principal balance of the Class A
Certificates exceeds the Class A Invested Amount after giving effect to any
activity on the Distribution Date is $0
---------------
2
<PAGE> 3
ANNUAL CERTIFICATEHOLDER'S STATEMENT
MERCANTILE BANK OF ILLINOIS NATIONAL ASSOCIATION
MERCANTILE CREDIT CARD MASTER TRUST SERIES 1995-1
Total Year 1996
36) The amount, if any, by which the outstanding principal balance of the Class B
Certificates exceeds the Class B Invested Amount after giving effect to any
activity on the Distribution Date is $0
---------------
37) The Available Cash Collateral Amount as of the close of business on the
Distribution Date is $0
---------------
38) The Collateral Invested Amount as of the close of business on the Distribution
Date is $36,000,000
---------------
39) The Available Enhancement Amount as of the close of business on the
Distribution Date is $36,000,000
---------------
40) The amount by which the Net Portfolio Yield for the annual period exceeds
the Base Rate for such Monthly period 3.2761%
---------------
41) The amount of Interchange with respect to the annual period is $5,078,206
---------------
42) The Deficit Controlled Amortization Amount is $0
---------------
</TABLE>
MERCANTILE BANK OF ILLINOIS NATIONAL ASSOCIATION
as Servicer
By: /s/ Daniel J. Trueman
----------------------------------------
Title: Vice President
3
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