Reported about 5 hours ago
First Internet Bancorp, facing recent credit quality challenges, plans to sell $869 million in single tenant commercial real estate loans to Blackstone, marking its largest individual loan sale ever. Although selling at a slight discount, the deal is set to enhance the bank's profitability and balance sheet flexibility, while allowing continued lending in the single tenant market. This strategic move aims to reduce exposure to fixed-rate loans and optimize capital levels amidst a fluctuating interest rate environment.
Source: YAHOO