CORRESP 3 filename3.htm exhibit_a.htm
Unity Bank
      
SBA Nonaccrual Loans - Specific Reserves Loan Valuation
  
SCHEDULE (A) SEC COMMENT LETTER
      
       
Loan Name
  
Delinquent Loan
  
Account #
  
XXXXXXXXX
  
       
Non Accrual Date
  
12/31/10
  
Apprasial Date
  
9/30/2009
  
Last Charge Off Taken
  
12/31/2010
  
 Risk Rating
     8  
         
Loan Balance
     500,000.00  
SBA Guarantee %
     75 %
SBA Guarantee Portion
     375,000.00  
Charge Off
     50,000.00  
Unity Loan Balance
     75,000.00  
         
         
Value of Commercial Collateral
     400,000.00  
Discount
     25 %
Discounted Collateral
     300,000.00  
Less selling holding costs 10%
     30,000.00  
First Lien Position
     -  
Second Lien Position
     -  
 Net Realized Value
     270,000.00  
         
         
Value of Residential Collateral
     -  
Discount
     20 %
Discounted Collateral
     -  
Less selling holding costs 8%
     -  
First Lien Position
     -  
Second Lien Position
     -  
 Net Realized Value
     -  
         
Value of Inventory FF&E
     -  
Discount
     75 %
Discounted Collateral
     -  
Prior Lein
     -  
Less Auction Costs (25%)
     -  
  Net Realized Value
     -  
Total Net Realized Value
     270,000.00  
Unitys Net Realized Value (25%)
     67,500.00  
         
Loan Balance
     75,000.00  
Collateral Net Realized Value
     67,500.00  
Collateral Surplus (Shortfall)
     (7,500.00 )
         
Specific Reserve
     7,500.00  
         

 
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