While the indicative portfolio has an average credit quality of ‘B’ or ‘B-,’ Fitch also points out that the class A-1 notes have a 43.0% credit enhancement level.

The deal for Summit Financial furthers First Financial’s strategy of acquiring national niche business lines.

Chryssa Halley, who has been with the company since 2006, was named CFO and Jim Holmberg was named controller.

The tech entrepreneur has been increasingly focused on Bitcoin, a key growth area for the payments company he co-founded.

The bank, which acquired General Electric’s health care lending business in 2015, is looking to expand its presence amid a merger boom in the sector.

The Rhode Island bank has entered into an agreement to acquire JMP Group, which focuses on the health care, technology, financial services and real estate sectors.

The price for the 20% stake in Santander Consumer USA Holdings that Santander does not already own is significantly higher than what the buyer first offered in July.

Marked declines in loans that have had relatively higher levels of pandemic-related distress reinforced other indicators suggesting the market could normalize if infection rates remain contained.

Minnwest Bank, which focuses largely on agriculture lending, said it will “become more sophisticated" with its mortgage and consumer lending services by acquiring Roundbank.

The company attributed its second quarter loss to competitive pricing pressures and GSE-imposed charges.