Summit Bancorp said it expects its portfolio of bad loans to jump by as much as 63% in the third quarter, according to a regulatory filing made Thursday.

The $33 billion-asset banking company said the increase was due to one unnamed commercial borrower that owes it $60 million. As of June 30, the Princeton, N.J.-based company reported $101 million in nonperforming loans in its portfolio, a 20% rise from a year earlier.

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