News — Top Ten Stories
CapStar Expands Commercial Finance Team
CapStar Bank EVP Lee Palm has announced that Jim Ward, Larry Hawk and Tebin McDowell have joined CapStar’s Commercial Finance team as account executives.
Read more...Date Posted May 10, 2013
Wells Fargo Adds Bankers, Launches New Credit Products
Wells Fargo announced it is hiring more bankers to serve small businesses through its banking stores and has introduced two new secured credit products for business owners.
Read more...Date Posted May 10, 2013
Capital One Hires Eight New Equipment Finance Officers
Capital One announced a major expansion of its Equipment Finance business, with the appointment of eight new sales officers. The new team members average more than 20 years of experience in equipment leasing and financing.
Read more...Date Posted May 9, 2013
Fifth Street Finance to Acquire Healthcare Finance Group
Fifth Street Finance said it has entered into a definitive agreement to acquire Healthcare Finance Group as a portfolio company.
Read more...Date Posted May 8, 2013
Trinity Forms New $1 Billion Railcar Leasing JV
Trinity Industries said it has partnered an institutional investment fund and an addition co-investor to create RIV 2013 Rail Holdings, a JV that will provide railcar leasing services in North America.
Read more...Date Posted May 8, 2013
SunTrust Equipment Finance Hires Marketing VP
Judith Mencke joined SunTrust Equipment Finance & Leasing as marketing VP of the Bank Client Group. Her experience in bank equipment financing includes working with Wells Fargo, Wachovia, SouthTrust Bank and GE.
Read more...Date Posted May 8, 2013
Former U.S. Ambassador to Canada Joins Element BOD
Element Financial announced the appointment of Gordon D. Giffin, former U.S. ambassador to Canada, to the company’s board of directors.
Read more...Date Posted May 7, 2013
GE Appoints GE Capital’s Colao New Company Officer
GE announced the appointment of Daniel O. Colao to vice president, financial planning & analysis, GE Capital.
Read more...Date Posted May 7, 2013
FT: Dell, Soros Invest in Helicopter Leasing Company
The Financial Times reported that Michael Dell and George Soros are betting on future high levels of offshore oil production by investing in Waypoint Leasing, a helicopter leasing company.
Read more...Date Posted May 6, 2013
Maxim Commercial Capital Hires Business Development Director
Commercial finance company Maxim Commercial Capital announced the hire of Mae Philpott as the company’s business development director. Philpott was previously with Dakota Financial as the sales & marketing director.
Read more...Date Posted May 6, 2013
CoActiv Capital Rebranded as Element Financial (USA)
Element Financial announced it has commenced rebranding the operations of recently acquired CoActiv Capital Partners under Element’s North American identity. The legal name has been changed to Element Financial Corp. doing business as Element Financial (USA).
Read more...Date Posted May 3, 2013
Former CIT CIO Joins The Alta Group
The Alta Group said it has appointed Roberto Fernandez as business process and applications consultant for its Latin American region. Fernandez was previously CIT’s VP and CIO in Latin America.
Read more...Date Posted May 2, 2013
Fifth Third Names Ex-Citibank Exec Chief Marketing Officer
Fifth Third said it has named Maria Veltre as SVP and chief marketing officer. She has held marketing leadership positions at Citibank, JPMorgan Chase and GE Capital.
Read more...Date Posted May 2, 2013
Marlin Scores Big as Q1 Earnings More Than Double
Marlin Business Services said Q1/13 net income of $3.65 million was up from $1.65 million in Q1/12 or 121% higher. Marlin noted deposits were up 76% year/year and cost of funds was 118 BPs lower compared to Q1/12.
Read more...Date Posted May 1, 2013
GE Agrees to Pay $40MM to Settle Investor Suit
Bloomberg reported that GE agreed to pay $40 million to settle shareholder claims that the company misled them about the quality of its loan portfolio beginning in September 2008.
Read more...Date Posted May 1, 2013
North Mill EF Closes $50MM Loan Facility With Wells Fargo
North Mill Equipment Finance said it has entered into a $50 million senior loan facility with Wells Fargo Capital Finance.
Read more...Date Posted May 1, 2013
CapitalSource: Equipment Finance Portfolio Up 49%
CapitalSource reported that its equipment finance portfolio ended the first quarter 2013 at $622.2 million, up 49% from $417.9 million at the end of the same quarter in 2012.
Read more...Date Posted April 30, 2013
CIT Trade Finance Names Northeast Sales Manager
CIT said that Todd Harrington has been named Northeast regional sales manager of CIT Trade Finance. Previously, Harrington was managing director and chief sales officer for CIT’s Small Business Lending group.
Read more...Date Posted April 29, 2013
Microdesk Named Outstanding Partner by EverBank CF
Microdesk announced that EverBank Commercial Finance has honored the company with the Outstanding Partner Award for 2012.
Read more...Date Posted April 29, 2013
Univest Names Ex-DLL VP as Business Development Manager
Univest Capital said it has appointed Curtis Freifelder to VP and business development manager. He joins Univest after serving as U.S. region VP for De Lage Landen.
Read more...Date Posted April 29, 2013
PacLease Names Top Performing Franchises
PACCAR Leasing recently presented top franchise awards to Rush Truck Leasing – Houston and PacLease Edmonton Kenworth.
Read more...Date Posted April 26, 2013
ATEL Capital Surpasses $3 Billion in Equipment Leased
ATEL Capital Group said that it has surpassed $3 billion in equipment lease and finance transactions (original cost of equipment).
Read more...Date Posted April 25, 2013
BofI Federal Bank Launches Healthcare Finance Unit
BofI Federal Bank announced the addition of a HealthCare Finance specialty in its C&I lending division. James Irwin, Jr., founder and president of MC Healthcare Finance, was named to lead the unit.
Read more...Date Posted April 25, 2013
GE Capital Expands Canadian Agricultural Equipment Financing
GE Capital’s Commercial Distribution Finance business said it is adding resources to support Canadian manufacturers and dealers of agricultural equipment.
Read more...Date Posted April 24, 2013
CIT Swings to Q1 Profit, But Misses Estimates
CIT Group reported Q1/13 net income of $163 million, $0.81 per share compared to a net loss of $427 million in Q1/12. Analysts polled by Thomson Reuters expected EPS of $0.89.
Read more...Date Posted April 23, 2013
GE Capital Sees Growth in Equipment Finance
GE Capital’s Equipment Finance business said it is establishing a business development group led by 28-year GE Capital veteran Jim Kelly.
Read more...Date Posted April 23, 2013
TCF: ‘Customer Driven Events’ Cause EF Revenue Drop
TCF Financial said Q1/13 leasing and equipment finance revenue was down 28% and 37%, respectively from Q1/12 and Q4/12 and noted the decreases were primarily due to lower operating lease and sales–type lease revenue growth in the portfolio as a result of “customer driven events.”
Read more...Date Posted April 22, 2013
CIT Expected to Return to Profitability
Forbes reported that analysts are expecting CIT Group to return to profitability when it reports its first quarter earnings on Tuesday, April 23, 2013.
Read more...Date Posted April 22, 2013
CFO: Navistar Navigates a Critical Refinancing
CFO reported that Navistar amended its loan agreements earlier this month, but analysts don’t think the company went far enough to bolster its liquidity.
Read more...Date Posted April 22, 2013
Lessors to Face Hurdles to Recover Kingfisher Jets
The Oman Tribune reported that Indian airports have claimed international law must take a back seat to local courts in a dispute with foreign aircraft leasing firms over the future of grounded Kingfisher aircraft.
Read more...Date Posted April 22, 2013
GE Capital Reports 9% Q1 Earnings Growth
GE reported that its GE Capital unit revenues and profit in the first quarter 2013 were $11.54 billion and $1.93 billion, respectively up 2% and 9% compared to the same quarter in 2012.
Read more...Date Posted April 19, 2013
EverBank Commercial Finance to Grow Healthcare Platform
EverBank Commercial Finance said it added Mike Foster as business development manager to its growing healthcare platform. He previously served at Marlin Business Services.
Read more...Date Posted April 19, 2013
CIT Vendor Expands U.S. Healthcare Financing Group
CIT Vendor Finance announced the expansion of its U.S. Healthcare Equipment Financing group with the hiring of Timothy Morris, William Tice, Charles Phillips and Ian Fine as sales managers.
Read more...Date Posted April 18, 2013
Balboa Named Preferred Lender For Papa John’s Franchisees
Balboa Capital said it has become a preferred lender for Papa John’s current and prospective franchisees nationwide.
Read more...Date Posted April 18, 2013
Huntington: ‘Particularly Strong Growth’ in Equipment Finance
In its news release on Q1 earnings, Huntington Bancshares noted that average C&I loans were up 14% from the same quarter in 2012. The bank said the growth was reflected across most business lines, with particularly strong growth in equipment finance.
Read more...Date Posted April 18, 2013
Creekridge Capital Announces Record Volume
Creekridge Capital said it has originated more volume in 2012 than any previous year and has signed formal vendor program agreements with 14 new partners.
Read more...Date Posted April 17, 2013
Wells Fargo Expands Technology Finance in UK
Wells Fargo Capital Finance announced the expansion of its Technology Finance lending capabilities in the UK. Steven Osborne, previously an underwriter with Burdale Financial, will lead the initiative for the London-based team.
Read more...Date Posted April 16, 2013
Rabobank: No Bonuses, Wage Increases for Two Years
Rabobank announced it has reached an agreement with its trade unions to prune back it collective labor agreement until the end of 2015. The new agreement includes the abolishment of variable remuneration, no general wage increase and a pension plan amendment.
Read more...Date Posted April 16, 2013
NewStar Financial Hires Managing Director in Chicago
NewStar Financial said it has hired banker Wes Frangul as a managing director in its Chicago office. Frangul will join Jason Wendorf and Eric Barton to broaden NewStar’s regional marketing activities.
Read more...Date Posted April 15, 2013
Wells Fargo Lease Financing Shows Highest Commercial Yield
In a presentation on its commercial loan portfolio, Wells Fargo showed that its lease financing component average balance in the first quarter 2013 was $12.4 billion with a corresponding yield of 6.78%, which was, by far, the highest return of all the bank’s commercial loan elements shown in the report.
Read more...Date Posted April 15, 2013
Bosco: FASB Proceeds Despite Complexity Concerns
Bill Bosco, lease accounting expert and president of Leasing 101, writes that FASB on April 10 tentatively decided to move forward with issuing an exposure draft on lease accounting next month despite concerns about the financial reporting complexity that may result from the proposed model.
Read more...Date Posted April 12, 2013
Element Avoids ‘Market Heroin’ for Leasing Business
In an article on Element Financial, Bloomberg quotes CEO Steve Hudson as saying that selling repackaged leases to life insurance companies helped his firm avoid the “financial market heroin” that almost ruined his first leasing venture 14 years ago.
Read more...Date Posted April 11, 2013
Bloomberg: Thain Transforms CIT Into M&A Target
Bloomberg reported that John Thain has transformed CIT into an enticing takeover target for some of the largest banks.
Read more...Date Posted April 11, 2013
CG Commercial Finance Provides $64MM Equipment Lease
CG Commercial Finance said it has provided a $64 million equipment lease to a joint venture formed by international investment grade companies for a water treatment plant.
Read more...Date Posted April 11, 2013
NXT Capital Names Head of Healthcare Finance
NXT Capital said it hired Stuart Smartt as managing director, head of Healthcare, for the Corporate Finance Group. He joins NXT Capital from CIT, where he was a director in the company’s Healthcare group.
Read more...Date Posted April 10, 2013
DLL Receives LEED Gold Certification for U.S. Headquarters
De Lage Landen said it received LEED Existing Building Operation and Maintenance Gold Certification for its U.S. headquarters in Wayne, PA, a recognition that affirms DLL’s commitment to incorporating responsible practices into business operations.
Read more...Date Posted April 10, 2013
First National Capital Posts Record Funded Volume in Q1/13
First National Capital, a commercial equipment and aviation finance provider, said the company posted a record $45.8 million in funded volume for Q1/13.
Read more...Date Posted April 9, 2013
CIT’s Thain Achieves Highest Scores for Liability Management
According to a recently released proxy statement, CIT said CEO John A. Thain’s 2012 compensation totaled $8.25 million. Thain’s performance assessment shows highest scores achieved for liability management.
Read more...Date Posted April 8, 2013
NXT Capital Closes $358MM CLO
NXT Capital said it has closed NXT Capital CLO 2013-1, a $358 million CLO. Wells Fargo Securities served as the lead manager, structuring agent and bookrunner and BMO Capital Markets GKST served as co-lead manager.
Read more...Date Posted April 8, 2013
TCF Inventory Finance Celebrates Fifth Anniversary
TCF Inventory Finance said it is celebrating its fifth anniversary.
Read more...Date Posted April 8, 2013
Cole Taylor EF Hires Sr. Syndicator; Opens CA Office
Cole Taylor Equipment Finance said it hired of Eric Staczek as SVP, syndications. In addition, the company announced the opening of a new office in San Clemente, CA, which will be led by Jeffrey M. Giannelli.
Read more...Date Posted April 5, 2013
Wells Fargo Hires VP for Chicago Middle Market
Wells Fargo said it has hired Keith Plummer as vice president and relationship manager. Plummer, previously with JPMorgan Chase, will focus on serving middle-market customers in Chicago.
Read more...Date Posted April 5, 2013
Key Equipment Finance Names VP, Federal Sales
Key Equipment Finance said it has named Kristina M. Decker vice president of federal sales for Key Government Finance.
Read more...Date Posted April 4, 2013
Kluga to Lead Popular Equipment Finance
Popular Community Bank announced the appointment of Dale Kluga to lead its national equipment finance business, Popular Equipment Finance.
Read more...Date Posted April 3, 2013
Direct Capital Comments on Top Independent Ranking
Direct Capital issued a press statement regarding its #4 ranking on the Monitor’s 2013 Top Independents list.
Read more...Date Posted April 3, 2013
EverBank Commercial Adds Salino to Sales Team
EverBank Commercial Finance announced that it named Jody Salino as the office products sales director for the firm’s western region. He joins EverBank from De Lage Landen.
Read more...Date Posted April 3, 2013
NXT Capital Launches Equipment Finance Business
NXT Capital announced the launch of NXT Capital Equipment Finance, a new business that will be led by equipment finance industry veteran Michael Gay. The group will provide loans and leases from $2 million to $20 million.
Read more...Date Posted April 2, 2013
National Leasing Acquires MapelLease Financial
National Leasing Group announced its acquisition of MapelLease Financial Services, an equipment leasing broker with a focus on the agricultural equipment market.
Read more...Date Posted April 2, 2013
Macquarie Provides $50MM Equipment Facility to Teranga
Teranga Gold said it has entered into a $50 million equipment finance facility with Macquarie Bank.
Read more...Date Posted April 1, 2013
Dell Makes Case to Go Private in ‘Grim’ Filing
The Wall Street Journal reported that based on an SEC filing described as “grim,” numerous people involved in the Dell deal said the company was increasingly fighting for market share in an industry that appeared to be on a downward spiral.
Read more...Date Posted April 1, 2013
SunTrust Equipment Finance Hires Marketing VP
SunTrust Equipment Finance & Leasing said it has hired Geralyn Kaiser as marketing vice president of its Bank Client Group.
Read more...Date Posted March 29, 2013
Rabo AgriFinance Promotes Haezebroeck to Vendor Finance SVP
According to a post on CropLife, Rabo AgriFinance has promoted Brian Haezebroeck to senior vice president, managing director – Vendor Finance.
Read more...Date Posted March 28, 2013
Direct Capital to Commit $300MM to Franchise Industry
Direct Capital said it will commit $300 million in 2013 to help fuel the growth of the franchise sector and will continue to build new programs that alleviate the challenges faced by franchisees.
Read more...Date Posted March 28, 2013
GE Capital 2012 Food Chain Investments Top $16B
In its most recent industry research update on Food, Beverage and Agribusiness, GE Capital notes that as of December 2012, its Americas unit committed $16.3 billion in investments across the value chain.
Read more...Date Posted March 27, 2013
EverBank Commercial Finance Expands Sales Team
EverBank Commercial Finance said it has named Jeff Stellinga as the office products sales director for the firm’s Eastern region. He previously served at CoActiv Capital as a regional sales director.
Read more...Date Posted March 27, 2013
Chicago Freight Car Leasing Hires VP/Sales
Chicago Freight Car Leasing announced that Rhonda Zielinski has joined the company as vice president of sales and customer support. Zielinski was previously with Navistar.
Read more...Date Posted March 26, 2013
Tetra Financial Provides $4.75MM in Recent Deals
Tetra Financial said it has recently provided $4.75 million through four transactions.
Read more...Date Posted March 26, 2013
WSJ: Sale of Dell Financial Could Be Worth $5 Billion
The Wall Street Journal reported that the Blackstone Group’s expression of interest in Dell involves partly financing any deal by selling Dell’s financial services unit, in a deal that could be valued at about $5 billion.
Read more...Date Posted March 25, 2013
CFO: Lenders Have Ample Liquidity to Fund CAPEX
CFO reported that financiers are chomping at the bit to fund capital equipment purchases, but borrowers and lessees are not cooperating.
Read more...Date Posted March 25, 2013
Cole Taylor Business Capital Provides $27MM in Facilities
Cole Taylor Business Capital announced the funding of a $22 million facility for Gartner Studios and Gartner Greetings and a $5 million facility for Wilcox Paper.
Read more...Date Posted March 25, 2013
WSJ: GE Capital, Blackstone Discussed Dell Finance Unit Bid
The Wall Street Journal reported that GE Capital and Blackstone have discussed jointly pursuing Dell’s financial services business, citing people familiar with the matter.
Read more...Date Posted March 22, 2013
SunTrust EF Names Direct Client Marketing VP
SunTrust Equipment Finance & Leasing has named Chris Holm as marketing VP of the Direct Client Group. He joins SunTrust from Hawker Beechcraft.
Read more...Date Posted March 22, 2013
WSJ: Heavy Trucks Throttle Back
The Wall Street Journal notes in an article on the trucking industry that heavy-duty truck sales, while rising modestly in recent years, remain far off their 2006 peak as operators squeeze more years out of vehicles already on the road.
Read more...Date Posted March 21, 2013
WSJ: JPMorgan Management Rating Downgraded by OCC
The Wall Street Journal reported that JPMorgan was downgraded in a confidential government scorecard over concerns about the company’s management and its board.
Read more...Date Posted March 20, 2013
WFEF: 2013 Transportation Landscape ‘More of the Same’
Reports from Wells Fargo economists indicate that the transportation industry landscape in 2013 is going to be “more of the same,” said Jon Eide, national sales manager, Wells Fargo Equipment Finance, in the company’s Q1/13 Trucking Quarterly.
Read more...Date Posted March 20, 2013
Fox News: General Electric May Spin Off GE Capital
Fox Business News’ interpretation of comments made by GE CEO Jeff Immelt at an industry group meeting is that GE may consider spinning off GE Capital to simplify its structure, although it’s not currently pursuing any such move.
Read more...Date Posted March 20, 2013
Key Equipment Finance Names North American Rail Director
Key Equipment Finance said it has named Andrew J. Falcone director, North American rail. Before joining Key, Falcone spent 19 years at BTMU Capital, the last two years as managing director of Beacon Rail Leasing.
Read more...Date Posted March 19, 2013
NYT: JPMorgan’s ‘Follies, For All To See’
In her weekly column in the Sunday NY Times, Fair Game columnist, Gretchen Morgenson, writes that the Senate report detailing the trading fiasco at JPMorgan shows that the financial system is “at greater risk than you know thanks to dissembling traders and bumbling regulators.”
Read more...Date Posted March 18, 2013
De Lage Landen’s Portfolio Grows to $40.6B in 2012
De Lage Landen said its managed portfolio grew 5% to $40.6 billion and net income reached $1.9 billion in 2012.
Read more...Date Posted March 18, 2013
BancLease Appoints Mitch Larkin Sales VP
BancLease Acceptance said that Mitch Larkin has been appointed vice president of sales and will operate a satellite office in a suburb of Baltimore, MD.
Read more...Date Posted March 18, 2013
TIP Capital Specialty Markets Group Adds VPs
TIP Capital said it hired Jim Merrilees and Bruce Braviroff as vice presidents of National Accounts for the Specialty Markets Group, which works with equipment manufacturers to develop turn-key financing solutions for their products.
Read more...Date Posted March 14, 2013
SunTrust Equipment Finance Hires Marketing VPs
SunTrust Equipment Finance & Leasing said it has hired Lea Reeves and Bob Sommers as marketing VPs based out of Atlanta and Washington D.C., respectively.
Read more...Date Posted March 13, 2013
GE Capital Provides $16MM in Marine Fleet Financing
GE Capital, Corporate Finance provided $16 million in equipment financing to the Dutra Group. The funds refinance existing debt used to support the company’s marine fleet.
Read more...Date Posted March 13, 2013
Element Financial Closes $173MM Equity Financing
Element Financial said it has closed its previously announced bought deal offering of common shares totaling approximately $173 million.
Read more...Date Posted March 13, 2013
Northern Leasing Issues Statement on AG Settlement
In a letter to the Monitor, Northern Leasing issued a statement regarding the company’s settlement with the NY Attorney General.
Read more...Date Posted March 12, 2013
Sentence of Former LeNature’s Executive Upheld
The Pittsburgh Tribune-Review reported that a federal appeals court has refused to reduce the 15-year prison sentence of a former executive of LeNature’s.
Read more...Date Posted March 12, 2013
Bank of the West Expanding Commercial Banking Team
Bank of the West said it intends to add 50 team members to its national banking division to support growth among middle-market companies.
Read more...Date Posted March 12, 2013
Webster Hires Former GE Franchise Finance VP
Webster Bank announced that Abdallah Igram has joined the bank as SVP, senior relationship manager. Igram was previously with GE Capital Franchise Finance as VP, Northeast originations.
Read more...Date Posted March 11, 2013
Chase Names Walker Head of Middle Market Banking
Chase announced that Steve Walker has been named national head of Core Middle Market Banking, which serves companies with annual revenues between $20 million to $500 million.
Read more...Date Posted March 11, 2013
GE Capital Selling $500MM Floating Rate Debt
Fox Business News reported that GE Capital is marketing $500 million in rare ten-year floating-rate notes to investors.
Read more...Date Posted March 11, 2013
NY Attorney General Reaches Settlement With Northern Leasing
New York Attorney General Eric T. Schneiderman said his office has reached a multi-million dollar settlement with a group of New York City-based business equipment leasing companies that schemed to drain nearly $11 million from the bank accounts of small business customers.
Read more...Date Posted March 8, 2013
IASB Publishes Revised Proposals for Loan-Loss Provisioning
The IASB published for public comment a revised set of proposals for the impairment of financial instruments. The proposals are intended to develop a more forward-looking provisioning model, which recognizes expected credit losses on a more timely basis.
Read more...Date Posted March 7, 2013
Creekridge Capital Expands in Ophthalmology Market
Creekridge Capital said it has added Scott Preiser as a sales manager responsible for growing the company’s current and potential vendor partners in the ophthalmology market.
Read more...Date Posted March 6, 2013
Direct Capital Releases Lending Demand Infographic
Direct Capital said it has released a heat map illustrating small business lending demand over the last year in the United States.
Read more...Date Posted March 6, 2013
Panel Affirms Cat Financial Award in Security Interest Case
According to a local news report, a federal appeals panel affirmed a judgment that awarded $2.4 million in damages to Caterpillar Financial in a case brought against People’s National Bank.
Read more...Date Posted March 5, 2013
Milestone Aviation Surpasses $1B in Leased Helicopters
Milestone Aviation said its portfolio of leased helicopters has surpassed $1 billion.
Read more...Date Posted March 5, 2013
Firestone Financial Adds Berkshire to Bank Group
Firestone Financial said it added Berkshire Bank to its bank group and signed a $150 million, multi-year revolving credit facility.
Read more...Date Posted March 5, 2013
The Alta Group Names Wilton Managing Director
The Alta Group said it has appointed Keith A. Wilton as a managing director. He most recently served as executive vice president at Pacific Capital Bancorp.
Read more...Date Posted March 4, 2013
Former Element Financial Exec Joins Waterpoint Financial
Waterpoint Financial announced the appointment of Jim More to the position of senior EVP responsible for the company’s financial and M&A strategies. More was previously with Element Financial where he led funding and M&A strategies.
Read more...Date Posted March 4, 2013
Buffett: ‘Foot to the Floor’ on Capital Spending
Bloomberg reported that in his letter to shareholders, Warren Buffet said executives who held back investments because of doubts about the economy are missing an opportunity. “We will keep our foot to the floor,” Buffet is quoted as saying about Berkshire’s capital expenditures in 2013.
Read more...Date Posted March 4, 2013







