“Our acquisition of ACG Equipment Finance is consistent with our long-term strategic plan. Bringing our companies together accelerates our growth strategy, strengthens our product and asset mix and fuels our ability to continue investing in our technology, banking teams and core markets,” Stephen Raffaele, CEO and president of American Bank, said. “I’m excited to welcome ACG and its employees and clients to American Bank. Our organizations share similar values, have cultures that are well aligned and are both fully committed to a high level of client service.”
“I’m pleased to become a part of American Bank and to join in its more than 50-year history of service excellence, financial strength and community service,” Rob Childers, president of ACG Equipment Finance, said. “We look forward to the next 50 years and to leveraging American Bank’s infrastructure and experience to help take our combined equipment finance business to the next level.”
ACG Equipment Finance will maintain its current business model while operating as a division of American Bank. In addition, ACG Equipment Finance will expand its ability to deliver commercial equipment financing with the support of the capital and funding position of American Bank.
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