The parent company of Cleveland's AmTrust Bank — the nation's third largest residential wholesale lender — filed for bankruptcy protection Monday. AmTrust Financial Corp., the corporate parent of AmTrust Bank, filed for Chapter 11 protection Monday in U.S. Bankruptcy Court in Cleveland. According to the Quarterly Data Report, AmTrust ranks third among all residential wholesalers. The company's bank unit and its 66 branches in Florida, Ohio and Arizona are not part of the Chapter 11 filing. Peter Goldberg, AmTrust's chief executive and a member of the family that controls AmTrust, said in a court filing that the bank and its subsidiaries "will continue their business operations."
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