TAB Bank Expands Equipment Leasing Division
TAB Bank said it continues to expand its Equipment Leasing Division by adding Mark Carpenter, Eric Sheehan and Nathan Farnsworth to the credit and underwriting team of the division.
All three come to TAB Bank from Republic Bank of Bountiful, UT, where they were instrumental in managing and monitoring the growth and performance of Republic’s equipment leasing portfolio. They bring to TAB Bank several key relationships within the commercial finance and equipment leasing industries. In their new roles with TAB, they will be responsible for the development and underwriting of new commercial equipment leasing transactions.
Carpenter has over 20 years of commercial lending and equipment leasing experience. Prior to joining TAB, he was the chief credit officer and a senior vice president at Republic Bank. While at Republic, he managed and grew relationships from eight to 15 banks and commercial leasing firms selling transactions to the bank. These expanded relationships led to portfolio growth of 48% from 2008 to 2012. He also spent a large portion of his career with Wells Fargo Equipment Finance as vice president and credit manager. During this time, he developed and managed marketing relationships with Wells Fargo Business Banking hubs in Boise, ID; San Jose, CA and San Antonio, TX.
Sheehan also has over 20 years of experience in the industry of commercial credit and finance. He has specialized in the development, implementation, and oversight of credit policies and procedures during his career. He has served as a credit and underwriting manager for several financial institutions including American West Bank and Citigroup. While at Republic Bank, he provided underwriting and financial analysis of all lease transactions and negotiated lease rates, terms and covenants for each approved transaction.
Farnsworth joins TAB Bank after successful career stops with SVB Financial Group, Nevada State Bank, and most recently, Republic Bank. He has gained extensive credit, underwriting, financial analysis, collateral evaluation, account management and deal structuring experience in his previous positions. During his time at Republic Bank, he assisted in managing a portfolio consisting of various commercial leases and loans to hospitals, skilled nursing facilities, senior living centers, and medical equipment manufacturers.
“We are very excited with the additions of Mark, Eric and Nathan to our growing Equipment Leasing Division. All three come to TAB with a wealth of industry knowledge and expertise. They each have a proven track record of successfully seeing a commercial equipment transaction from start to finish. They also bring with them an impressive network of relationships within the industry. They have successfully nurtured these relationships through their dedication, hard work, and integrity. We are very much looking forward to the outstanding work and contributions each of them will bring to TAB Bank on a consistent basis,” commented Gary Harding, chief credit officer of TAB Bank.
