Atlantic Bank Announces Third Quarter Loan Portfolio Acquisitions Of $37.6 Million.BOSTON--(BUSINESS WIRE)--Oct. 3, 1997--Atlantic Bank (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ATLB) announced today that it completed nine loan acquisition transactions during the quarter ended September 30, 1997. The acquisitions were comprised of 62 loans with aggregate outstanding principal balances of $37.6 million. The total price for the loans was $32.7 million. The loans are primarily performing and secured principally by commercial real estate. "We are pleased with both the volume and source of these loan acquisitions," said Nicholas W. Lazares, chairman. "Some time ago we established a clear goal of increasing the portion of our acquired loan portfolio that originates from private sector sellers. It is satisfying to note that all of our third quarter loan acquisitions were from private sector sellers, and that virtually all of our total 1997 loan acquisitions have come from the private sector." Richard Wayne Dr. Richard Wayne (April 4, 1804 – June 27, 1858) served as mayor of Savannah, Georgia for four terms: 1844 - 1845, 1848 - 1851, 1852 - 1853 and 1857 - 1858. He died while in office.[1] Wayne was the first mayor of Savannah elected by its citizens. , president, commented that "These purchases bring the total outstanding principal balance of loans acquired during the first nine months of 1997 to $125.8 million at a total price of $98.4 million. This compares favorably fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. to acquisitions of $27.4 million at a price of $19.0 million for the first nine months of 1996." Atlantic Bank is a Massachusetts Massachusetts (măsəch  `sĭts), most populous of the New England states of the NE United States. chartered, FDIC FDICSee: Federal Deposit Insurance Corporation FDIC See Federal Deposit Insurance Corporation (FDIC). insured trust company which conducts business from its executive and main offices in downtown Boston and a branch in Chestnut Hill Chestnut Hill may refer to: In geography:
CONTACT: Atlantic Bank Nicholas W. Lazares or Richard Wayne, (617) 330-8585 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion