News

Holly, Coon Join Hanmi Commercial Equipment Leasing Division

Hanmi Bank’s Commercial Equipment Leasing Division hired Michael Coon as senior business development and capital markets officer and Maggie Holly as first vice president, credit manager. read more

BancorpSouth Mergers with Casey & Merchants Receive Regulatory Approval

BancorpSouth Bank received regulatory approvals from the FDIC to complete its proposed mergers with Casey Bancorp and its subsidiary, Grand Bank of Texas, and with Merchants Trust and its subsidiary, Merchants Bank. read more

Crowe Produces Lease Accounting Optimizer for the Public Sector

Crowe introduced its Lease Accounting Optimizer for the public sector, a tool to help organizations track, account and report on lessee and lessor leases to comply with Governmental Accounting Standards Board Statement No. 87. read more

IBM Blockchain Launches New Global Payment Network in 50+ Countries

IBM launched IBM Blockchain World Wire, a real-time global payments network for regulated financial institutions. The payment service is officially accessible in a growing number of markets. read more

Neumann Hires Nine Business Development Professionals in Philadelphia

Neumann Finance, a nationwide commercial equipment financing company, added nine new members to its business development team as part of its aggressive growth plan. read more

Cervus Ends 2018 with $36.5MM in Adjusted Pre-Tax Income, Up $8.8MM Y/Y

Cervus Equipment reported its financial results and operational highlights for the full year 2018. The company’s generated adjusted income before income tax expense was $36.5 million, a $8.8 million increase over 2017 adjusted income. read more

LeaseAccelerator to Share ASC 842 Best Practices at SAPinsider Financials

Lease accounting software creator LeaseAccelerator will join global industry leaders to discuss the strategies for long-term success with the new ASC 842 and IFRS 16 lease accounting standards at SAPinsider Financials 2019. read more

Rabobank, Mechanics Bank Agree to Merge

Mechanics Bank agreed to acquire Rabobank in a strategic business combination transaction valued at approximately $2.1 billion. The transaction has been approved by each party’s authorizing board of directors. read more

Bergeron, Savoca Join Pitney Bowes as VPs/General Managers

Lee Bergeron and Karen Savoca joined the Pitney Bowes Financial Services leadership team as, respectively, VP/general manager, Equipment Finance and Financial Services and VP/general manager, Leading Products & Services. read more

PwC Reaches $335MM Settlement with FDIC Over Audits of Failed Bank

The FDIC reached a $335 million settlement with PricewaterhouseCoopers related to professional negligence claims brought by the FDIC against accounting firm arising out of the audits of the failed Colonial Bank. read more

Bank of America Names Foster North Bay Market President

Bank of America named Private Bank senior vice president Jason Foster its market president for the North Bay counties of Marin, Napa and Sonoma, CA. read more

ACT: For-Hire Trucking Pricing Falls Again in February

The latest release of ACT Research’s For-Hire Trucking Index showed a downtick in volume, pricing and productivity, with the supply-demand balance continuing trend, loosening for the fourth consecutive month. read more

SEC Staff to Hold Fintech Forum on DLT & Digital Assets

The staff of the Securities and Exchange Commission will host a public forum focusing on distributed ledger technology (DLT) and digital assets on May 31, 2019. read more

Preliminary Used Class 8 Volumes Decline in February, Down 20% Y/Y

Preliminary used Class 8 volumes (same dealer sales) declined 5% month over month in February, erasing a portion of January’s 10% improvement, according to the latest ACT Research State of the Industry: U.S. Classes 3-8 Used Trucks. read more

JPMorgan Chase Vet Bean Joins Mesirow Financial as Wealth Advisors CEO

Mesirow Financial appointed Melissa Bean president and CEO of Mesirow Wealth Advisors. She succeeds Lee Gordon, who will transition to chairman of Mesirow Wealth Advisors. read more

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Terry Mulreany
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