Marshall & Ilsley Corp. restated its second-quarter loss on Monday as Wisconsin's largest bank sold 800 residential mortgage loans, nearly all of which were nonperfoming.

The sale of the loans, with an unpaid principal balance of $297 million and two-thirds of which on Arizona properties, will also result in third-quarter charge-offs and loan-loss provisions being sharply less than what the company projected last month.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.