Portfolio Recovery Associates Inc., a publicly owned debt buyer based in Norfolk, Va., announced Monday the closing of a $75.5 million public stock offering.

Editor's Note: Collections & Credit Risk has a 15-year tradition of honoring outstanding industry performers. In our series "Industry Champions" we look at those who have worked to improve their field in a meaningful way.

Oliphant Financial LLC, a debt buyer in Sarasota, Fla., has purchased most of the portfolio assets owned by Performance Capital Management (PCM), a Buena Park, Calif. debt buyer that is being liquidated.

Loan sales likely will be a trend among community banks this year after a growing number successfully sold nonperforming assets in the fourth quarter. The opportunity - and willingness - to move nonperforming assets off the books is increasing, according to analysts and executives.

Flock Advisors announced public availability of the firm’s Falcon Fund, adding to the options available to debt buyers for funding debt purchases, according to Michael Flock, the company's managing director.