The Office Comptroller of the Currency May 9 closed down theBentonville, AR-based bank for allegedly issuing too many riskyloans. The FDIC was appointed as receiver.

According to First Financial's release about the assignment, theperforming and non-performing loans are collateralized by a varietyof properties, most of which are located in Arkansas. FirstFinancial placed the loans into pools based on type, performance,collateral and geographical location. First Financial Network, ledby president and CEO Bliss Morris, didn't return telephone calls bydeadline to comment on the offering.

The Oklahoma City-based adviser has set Sept. 9 as the deadlinefor bids. According to the release, the marketing campaign willtarget "sophisticated purchasers" to obtain maximum value on theportfolio. The company also is planning to utilize an onlinetrading platform to provide interested and qualified investors withimmediate access to due diligence information as well as anelectronic option for placing bids.