Two banks have been expanding their presence in subprime lending this week, adding steam to a recent industrywide push to reach previously ignored customers.

First Tennessee National Corp. said Wednesday that it would purchase the Kansas-based subprime lender McGuire Mortgage Corp. in a stock-for-stock deal. The purchase price was not disclosed, but analysts estimate First Tennessee will pay about $30 million for McGuire, which has 16 branches and originated $350 million in loans last year.

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