News

GATX YTD Earnings Higher Despite Cost of Foreign Facility Closure

GATX reported year-to-date through September 2018 net income was $162.1 million, up from $159.9 million a year earlier. GATX noted results included the $5.8 million cost of a facility closure in Germany during Q2/18. read more

Samsung Launches New Service Program with CSI Leasing

Samsung Electronics America launched a brand-new CSI Leasing program to service existing and future Samsung customers in the U.S. read more

Former LEAF Commercial Capital CFO Moskovitz Joins TimePayment

TimePayment appointed Robert Moskovitz executive vice president and chief financial and administrative officer. read more

Fleet Advantage Adds Davis to Strategic Fleet Solutions Team

Don Davis joined Fleet Advantage as vice president, Strategic Fleet Solutions. Davis previously served as national accounts sales executive with PACCAR Leasing, based in Dallas. read more

ELFF: Industry Confidence Eases in October

According to the ELFF October 2018 Monthly Confidence Index, overall confidence in the equipment finance market eased to 63.2, a decrease from the September index of 65.5. read more

Insight Commercial Capital Launches Agricultural Finance Division

Insight Commercial Capital launched a new Agricultural Finance Division to help Minnesota farmers through a lean year. read more

American Railcar Industries to Merge with ITE Rail Fund

American Railcar Industries agreed to merge with a wholly-owned subsidiary of ITE Rail Fund in a transaction valued at $1.75 billion. According to CNBC, Carl Icahn stands to earn a $757.2 million profit on the deal. read more

Caterpillar September Global Machine Sales Up 21% Led by North America

Caterpillar reported its retail machine sales for the 3-month rolling period which ended in September was up 21%. The North American region led the increase with sales growth of 28%. read more

TCF Reports Q3 Earnings up 42.5% on Higher Revenue, Lower Losses

TCF’s reported Q3/18 net income was $86.2 million, up 42.4% from $60.5 million a year earlier. The bank noted revenue was up 6.5% and credit losses were down 84.4% from the same quarter one year-ago. read more

PNC, OnDeck Partner to Launch Digital Business Lending Platform

PNC Bank plans to begin offering fully digital business lines of credit, up to $100,000, in 2019 in an expansion of its online lending to customers and prospects in the U.S. PNC is partnering with fintech lender OnDeck to develop the new platform. read more

1st Source Reports Record YTD Earnings; Notes Aircraft Related Charge-Off

1st Source reported year-to-date net income was a record $60.97 million, up from $50.6 million one year earlier. The bank noted one large syndicated charge off described as ‘unique in both size and complexity.” read more

Cat Financial Opens Office in Johannesburg, South Africa

Cat Financial established its newest legal entity to support customers in South Africa by opening a finance office in Johannesburg. read more

ACT: Class 8 Natural Gas Truck Sales Down 28% YTD August 2018

U.S. and Canadian Natural Gas Class 8 truck retail sales rose 13% in 2017, but shed 28% year-to-date through August 2018, according to ACT Research. read more

Baker Hughes: Latest U.S. Rig Count up 17% Year/Year

According to Baker Hughes, the latest U.S. rig count was 1,067, up 154 or 16.9% from the 913 rig count for the same time one year ago. read more

Estancia, PMA Senior Management to Acquire PMA from Founding Family

The senior management team of PMA and Estancia Capital Partners agreed to acquire PMA from the company’s owners and founding family, the latter of which includes current PMA President Michael English. read more

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Terry Mulreany
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