Bank Unloads Long-Term Portfolio - Mortgage Forums for Mortgage Brokers

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		Mortgage Forums for Mortgage Brokers > Mortgage Business > Mortgage News
Bank Unloads Long-Term Portfolio

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01-20-2006, 06:13 AM

Veronica Corningstone Veronica Corningstone is offline

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Bank Unloads Long-Term Portfolio

Northwest Bancorp Inc. said Wednesday it expects an after-tax gain from a $383 million secondary sale. The proceeds from the sale will be reinvested in "other types of assets that will most likely have slightly lower average yields but much shorter average lives."

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