Horizon Bank formed a new equipment finance division to be led by Joel Mikolich as the division president. The new division will provide business equipment financing solutions to small and medium-sized businesses across the U.S.
Mikolich has more than 20 years of experience in the equipment finance industry and a track record for leading banks into this line of business. He was formerly the president of Falcon Equipment Finance.
“The entry into this business line strategically aligns with Horizon’s stated goal to continue to diversify our business model and revenue streams,” Lynn Kerber, chief commercial banking officer at Horizon Bank, said. “We believe the success of this new division will be propelled by Horizon’s core commercial banking business that has served as trusted advisors to the unique financial needs of diverse industries for 150 years. This foundation, coupled with the experienced leadership brought by Joel, will provide new and flexible financing solutions to our customers while providing an additional revenue stream for the bank to help maximize shareholder value.”
The immediate goal for the new division is to build a well-rounded, experienced team and originations platform in Q4/23 with a target to be operational in early 2024.
“I am excited to leverage my industry network and experience to build out a team that shares my passion for providing customer-centric financing solutions that can be supported by the lending capacity of an established financial institution like Horizon Bank,” Mikolich said.
