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PRAA vs WNEB

PRA Group, Inc. and Western New England Bancorp, Inc.

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PRA Group, Inc.

PRA Group, Inc., a financial services company, engages in the purchase, collection, and management of portfolios of nonperforming loans worldwide. The company purchases accounts that are primarily unpaid obligations of individuals owed to credit originators. It also purchases and collects nonperforming loans, which are sold by credit originators when they choose not to pursue, or have been unsuccessful in, collecting the full balance owed. In addition, the company is involved in purchasing and collecting on nonperforming loans where the customer is involved in a bankruptcy or similar proceeding; and purchase and provide fee-based services for class action claims recoveries. Its nonperforming loans, includes general purpose and private label credit cards, consumer loans, auto loans, overdrafts, and small business loans. The company was formerly known as Portfolio Recovery Associates, Inc. and changed its name to PRA Group, Inc. in October 2014. PRA Group, Inc. was founded in 1996 and is headquartered in Norfolk, Virginia.

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Western New England Bancorp, Inc.

Western New England Bancorp, Inc. operates as the holding company for Westfield Bank that provides a range of commercial and retail banking products and services to individuals and companies. The company offers various deposit products, including commercial, small business, nonprofit and municipal checking, money market, sweep accounts, time deposits, interest-bearing and noninterest-bearing checking, and individual retirement accounts, as well as certificates of deposit. It also originates and funds commercial and residential real estate loans, including first mortgages, home equity loans, and home equity lines, and secured by one-to-four family residential properties; home equity revolving loans and lines of credit; consumer loans, including automobile, spa and pool, collateral, and personal lines of credit; commercial and industrial loans, such as letters of credit, revolving lines of credit, working capital, equipment financing, and term loans; and construction and land development loans. In addition, the company provides automated teller machine (ATM), telephone and online banking, remote deposit capture, cash management, overdraft and safe deposit facility, and night deposit services. The company was formerly known as Westfield Financial, Inc. and changed its name to Western New England Bancorp, Inc. in October 2016. The company was founded in 1853 and is headquartered in Westfield, Massachusetts.

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