Trump trial: 1st week of testimony ends with testimony from Michael Cohen's former banker

Banker Gary Farro testified in Donald Trump's hush money trial in New York.

Former President Donald Trump is on trial in New York City, where he is facing felony charges related to a 2016 hush money payment to adult film actress Stormy Daniels. It marks the first time in history that a former U.S. president has been tried on criminal charges.

Trump last April pleaded not guilty to a 34-count indictment charging him with falsifying business records to hide the reimbursement of a hush money payment his then-attorney Michael Cohen made to Daniels in order to boost his electoral prospects in the 2016 presidential election.

What to know about the hush money case

READ MORE: Here's what you need to know about the historic case.

Trump, leaving court, says prosecutors have 'no case'

Following a brief huddle with his attorney Todd Blanche and legal adviser Boris Epshteyn, former President Trump departed the courtroom at the conclusion of the second week of his criminal trial.

In remarks to reporters, he reiterated that there is "no case."

Court is off on Monday, so the proceedings will resume Tuesday morning.

-ABC News' Kelsey Walsh and Mike Pappano

Banker says he set up LLC, which Cohen used to pay Daniels

Banker Gary Farro testified that he got an urgent message from Michael Cohen on October 13, 2016.

According to Farro, Cohen needed to quickly create a new business named Resolution Consultants LLC.

"My understanding was it was a real estate consulting company," Farro testified.

According to prosecutors, Resolution Consultants LLC was the shell company that Cohen planned to use to pay for the exclusive rights to Karen McDougal's story in which she claimed to have had a yearlong sexual relationship with Trump.

Farro walked through the paperwork used to create the Delaware-based company, including a description, which said it was a consulting firm to offer "strategy, PR and marketing." He collected Cohen's signature and an affirmation that the company would not involve political fundraising.

"[It] would be something the bank wants to know," Farro said on the stand about political contributions, adding that it would trigger an additional review by the bank.

Farro said that while the company was established, it was never funded. Prosecutors allege that the deal that prompted the creation of the account -- paying National Enquirer parent AMI for the McDougal story -- fell through at the last minute.

A few weeks later, Farro received another phone call from Cohen on October 26, 2016.

"He stated he was changing course," Farro said. Prosecutor Becky Mangold asked if Cohen made the call seem urgent.

"Every time Michael Cohen spoke to me, he gave a sense of urgency," Farro said. "This is one of those times."

Farro testified he was busy at the time -- "I was at a golf course, very cliche for a banker" -- but a colleague handled Cohen's request for the paperwork for a new company called Essential Consultants LLC.

In the paperwork, Cohen described it as a "real estate consulting company to collect fees for investment consulting work he does for real estate deals," Farro said.

According to prosecutors, Cohen that day transferred $131,000 from a personal home equity line of credit into an account for Essential Consultants LLC.

The next day, Cohen transferred $130,000 from that account to a lawyer for Stormy Daniels, prosecutors allege.

Farro's testimony is expected to continue when court resumes on Tuesday. The proceedings have adjourned until then.

Farro says Cohen became his banking client in 2015

Gary Farro, formerly a senior managing director at First Republic Bank, testified that he first met Michael Cohen when Cohen became a banking client of his in 2015, after one of Farro's colleagues left the bank.

Asked why Cohen was assigned to him, Farro cited his "ability to handle individuals who might be a little challenging."

"Frankly, I didn't find him that difficult," Farro remarked.

First Republic Bank had a branch across the street from Trump Tower, where Cohen worked. Farro said Cohen frequently visited the bank and eagerly told him that he worked for Trump.

"He was a lawyer or is a lawyer. I am not sure," Farro said about Cohen, who was disbarred in 2019.

Prosecutors are now walking through First Republic Bank's policies for retaining documents. Prosecutors plan to use Farro as a custodial witness to authenticate records that will be used as evidence.

Prosecution calls Gary Farro as next witness

Following the conclusion of Rhona Graff's testimony, prosecutors called Gary Farro as their next witness.

Farro currently works at Flagstar Bank. He said he is testifying voluntarily, though he said he received a subpoena prior to his testimony.

'Thank you for handling' McDougal, Pecker says Trump told him

Former National Enquirer publisher David Pecker testified that he was twice summoned to Trump Tower in the period following the 2016 election: the first time for a meeting with Michael Cohen, and the second with Donald Trump.

The first meeting began in Cohen's office, where Cohen divulged for the first time to Pecker that he personally covered the $130,000 payment to Stormy Daniels, and that he was concerned that he would not receive a bonus from the Trump Organization, Pecker testified.

"He (Cohen) asked me to talk to the boss on his behalf to try to help him get his bonus," Pecker said, referring to Trump.

When Trump himself came into the room, Pecker asked to walk him back to his office -- and at that time, Pecker told Trump that "Michael Cohen is very concerned about his bonus for this year, and I want you to know that he's very loyal."

Trump replied that Cohen had several apartments and taxi medallions, and added, "Don't worry about it, I'll take care of it," Pecker said.

On Jan. 6, 2017, Pecker arrived at Trump Tower for a meeting with Trump and was escorted to his residence by Jared Kushner, he testified.

Pecker said he was ushered into the room, where Trump was surrounded by administration officials James Comey, Sean Spicer, Reince Priebus, and Mike Pompeo -- they were "updating Mr. Trump on the Ft. Lauderdale shooting" that had occurred at the airport there.

Pecker testified that when Trump introduced him to Trump's inner circle of advisers, Trump said of the National Enquirer publisher, "He knows more than anyone else in this room."

"It was a joke. Unfortunately, they didn't laugh," Pecker testified, which brought some laughs from reporters in the gallery. A few jurors smiled at the moment.

Pecker testified that after Trump's advisers left the room, Trump turned to him.

"He (Trump) asked me how Karen [McDougal] was doing -- how's 'our girl' doing. I said, she's writing her articles, she's quiet, things are going fine."

Trump then said, "I want to thank you for handling the McDougal situation." And then he said, "I want to thank you for the doorman situation," Pecker testified.

Pecker testified that he took this to mean that Trump was thanking him "for not publishing any of the stories and helping the way I did."