The bank is looking to sell about $210 million of problem loans, spanning commercial and multifamily real estate, commercial and industrial, and construction segments.
CEO Thomas O'Brien, who took the bank's helm in June, said the last three months had been spent reviewing legacy credit challenges and developing plans to address them.
It projected provisions for credit losses in the third quarter in the range of $112 million to $120 million and a net loss of $126.2 million to $136.1 million.
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