News

ACT: Class 8 Measures Near-Record Highs, But Signs of Decline Appear

According to the latest ACT Research Transportation Digest, Class 8 retail sales and build are starting the summer at near-record high levels, but evidence supporting a change in direction continues to accumulate. read more

Minielly Replaces Fox on Sterling Board of Directors

Sterling Bancorp appointed Tom Minielly to its Board of Directors. Minielly replaces Jon Fox, who has retired and concurrently resigned from the Board. read more

IHS Markit Report Shows Softened Economy

Reuters reported that the IHS Markit U.S. manufacturing purchasing managers index (PMI) had a reading of 50.1, its lowest since September 2009. read more

Great Western to Purchase Trust Assets of Independent Bank

Great Western Bank entered into an agreement to purchase and assume the management of the trust assets of Independent Bank acquired through its acquisition of Guaranty Bank and Trust Company in Colorado. read more

Wells Fargo Releases 2019 Stress Test Results Under Dodd-Frank Act

Wells Fargo & Company released the results of its latest company-run stress test conducted in accordance with the Dodd-Frank Wall Street Reform and Consumer Protection Act. read more

ACT Research: All For-Hire Trucking Metrics, Except Capacity, Fall in May

The latest release of ACT Research’s For-Hire Trucking Index showed nearly across-the-board declines, with capacity being the lone exception. The Pricing Index fell to 38.8, the lowest in survey history. read more

TAB Bank Provides $2.5MM Revolver to Fitness Company

TAB Bank provided a $2.5 million asset-based revolving credit facility to a fitness company based in California. read more

Huntington Creates Medical Practice Specialty Business Banking Unit

Huntington launched a health care finance team dedicated to helping private health care and medical practices located east of the Mississippi with specialized loan products, including, among other things, equipment finance. read more

instaCOVER Launches Protection Program for Leased Commercial Vehicles

instaCOVER released a new vehicle protection program providing specialized insurance for leased and financed commercial vehicles and trailers. The new program will allow lease brokers and funders to acquire coverage. read more

FMO Approves $30MM Loan for Srei Equipment Finance

Srei Equipment Finance, a wholly-owned subsidiary of Srei Infrastructure Finance, received credit approval for $30 million from FMO, a Netherlands-based development finance bank. read more

Crestmark Provides $14.4MM+ in Financing to 62 Businesses

Crestmark provide more than $14.4 million in commercial financing to 62 businesses in the first half of June 2019. read more

Arista Capital Parent Company to Enter Mortgage Industry

Arista Financial, a financial services holding company that through its wholly owned subsidiary, Arista Capital, provides unique financing options to small truck lenders, will be entering the mortgage industry. read more

ACT: Class 8 Demand Strong, but Freight Metrics Softening

According to the latest ACT Research State of the Industry: Classes 5-8 Report, May’s Class 8 metrics generally aligned with expectations, with the lone exception of cancellations, which continued to surprise on the low side. read more

Ritchie Bros. Sells $42MM+ in Assets in Houston Auction

Ritchie Bros. sold more than 4,100 equipment items over two days for over $42 million at its third Houston auction this year. read more

Leake Auctions Coming to Scottsdale Auto Auction in January 2020

Richie Bros.’ subsidiary Leake Auctions is headed to Arizona in January 2020 for Scottsdale Auction Week. The company has partnered with Salt River Fields at Talking Stick for its multi-day auction. read more

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Terry Mulreany
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