Midlantic Corp. has signed an agreement to sell s and foreclosed properties to private investors, a bank official confirmed on Friday.

Market sources said the $110 million portfolio is being sold for about 27 cents to 32 cents on the dollar. Midlantic declined comment on specifics of the sale.

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.