Bank of Birmingham Adds Equipment Financing, Names EVP
The Bank of Birmingham said it has expanded its business services to include equipment lease financing and has named Robert W. Leonard as executive vice president of the new equipment leasing business.
Bank of Birmingham will finance most equipment types, including manufacturing, construction and transportation equipment. Structures will include finance leases, discounted leases, warehouse lines of credit and vendor programs.
“We are proud to be one of the first community banks to offer this important form of business financing,” said Rob Farr, president and chief executive officer of Bank of Birmingham and its holding company Birmingham Bloomfield Bancshares. “At Bank of Birmingham we continue to identify additional services to meet the growing needs of our customers – both commercial and consumer. Our customers and other businesses rely on equipment financing to grow their businesses and we look forward to working with them.”
Leonard has extensive experience in the equipment lease and finance industries, having created, grown and managed stand-alone companies and corporate departments. In addition to leadership roles with iCap Realty Advisors and Right Management, he served as principal with Harrison Capital, a privately owned equipment leasing advisor. He previously originated and managed Michigan National Bank’s Equipment Leasing Department, growing assets to $135 million.
“Bob has successfully created and led equipment financing programs previously, in the banking sector as well as for private companies. This will further support Bank of Birmingham’s commitment to understanding each customer and working together to create custom solutions,” said Farr.
Bank of Birmingham is a full-service community bank serving Birmingham, Bloomfield Hills, Beverly Hills and Franklin, MI, and provides financial services to small- and medium-size businesses, their owners and employees, professionals and individuals that work or reside in the market area.