Element Financial reported results for the three-month and six-month periods ending June 30, 2014 with organic originations of $0.8 billion contributing to a 7.9% increase in the company’s total earning assets to $4.1 billion as at June 30, 2014 versus $3.8 billion as at March 31, 2014.

Organic originations, excluding acquisitions, from all four verticals for the period amounted to $793 million in Q2 for a 23% increase over the $642 million of organic originations in the previous period.

Composition of Q2/14 Originations by Segment:

• The company’s U.S. Commercial & Vendor Finance unit reported new originations of $213.3 million for the three month period ending June 30, 2014 versus $160.5 million originated in the preceding quarter.
• Originations from Element’s Canadian Commercial & Vendor platform were $158.4 million versus $141.0 million in the previous quarter.
• Aviation Finance reported originations of $149.4 million in Q2, including $32.4 million of a $100 million facility approved for CargoJet during the period, versus originations of $96.2 million in the preceding quarter.
• Fleet Management reported originations of $138.2 million in Q2 versus $113.4 million in the preceding quarter.
• Railcar Finance, which reported $131.2 million of new railcar leases in Q1 in addition to the acquisition of a US$396 million portfolio of existing railcar leases from Trinity Industries, contributed $133.2 million of new railcar leases in Q2.

“Organic origination volumes were strong across each of our four business verticals in Q2 setting Element up to exceed the $3.9 billion pre-PHH origination target that we had established for 2014,” said Steven Hudson, Element’s chairman and CEO. “Trinity industries recently affirmed that US$1 billion of rail car leases are expected to flow to Element in 2014 and we are aiming to exceed this target,” added Hudson.

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