Virginia-based Bank of Clarke sold the assets of LaVictoire Finance, its marine lending business, to Axos Bank, a unit of Axos Financial.
Axos Bank acquired the LaVictoire Finance business, all $61.8 million of marine vessel dealer floor plan loans held by Banke of Clarke and the servicing rights of Banke of Clarke and other third parties’ marine finance loans.
LaVictoire Finance will operate as a business division of Axos and continue to maintain and leverage its existing brand name, operations and personnel.
Hovde Group served as the exclusive sell-side financial advisor to Bank of Clarke and LaVictoire Finance on this transaction.
