SVB Financial Group Files Chapter 11

SVB Financial Group, which is no longer affiliated with Silicon Valley Bank, filed a voluntary petition for a court-supervised reorganization under Chapter 11 in the United States Bankruptcy Court for the Southern District of New York to preserve value. read more

Major US Banks Deposit $30B in First Republic in Wake of Silicon Valley Bank Collapse

Last week, 11 banks, including Bank of America, Citigroup, JPMorgan Chase and Wells Fargo, combined to make $30 billion in uninsured deposits in First Republic Bank to display confidence in the U.S. banking system following the collapse of Silicon Valley Bank. read more

New York Community Bancorp Acquires Certain Signature Bank Assets and Liabilities

Flagstar Bank, a bank subsidiary of New York Community Bancorp, acquired certain assets and assumed certain liabilities of Signature Bridge Bank from the FDIC. All regulatory approvals, including approval from the OCC, have been obtained and the transaction has closed. read more

Kirby McInerney Files Class Action Lawsuit on Behalf of SVB Financial Investors

Kirby McInerney announced a class action lawsuit has been filed in the U.S. District Court for the Northern District of California on behalf of those who acquired SVB Financial Group securities during the period from June 16, 2021, through March 10, 2023. read more

Pendergist Suceeds Squire as SVP and Chief Lending Officer of Kinecta Federal Credit Union

Kinecta Federal Credit Union named Jason Pendergist senior vice president and chief lending officer. Pendergist succeeds Mike Squire, who has transitioned to senior vice president and CEO at Kinecta. read more

Republic Business Credit Adds Morgan as Vice President and Legal Manager

Republic Business Credit added Christy Morgan to the team as vice president and legal manager, reporting directly to CEO Stewart Chesters. In the new role, Morgan will oversee all legal materials for onboarding clients and work on amendments for existing clients. read more

Bank of America Leads Debt Refinancing for Topgolf Callaway Brands

Topgolf Callaway Brands completed a series of related transactions in support of a plan to refinance its capital structure, including a seven-year, $1.25 billion senior secured term loan B arranged by Bank of America, JPMorgan Chase, MUFG Securities and Truist Securities. read more

Priority One Financial Services Makes 2023 Best Place to Work List

The Tampa Bay Business Journal named Priority One Financial Services, a full-service finance company for marine, RV and trailer dealers, one of the best places to work in the Tampa Bay, FL, region for 2023. read more

White Oak Global Advisors Originates $1.4B in Lending Activity in 2022

White Oak Global Advisors, together with its financing affiliates, originated $1.4 billion of loan transactions across 60 deals in 2022. read more

Neptune Maritime Leasing Receives Investment of $200MM from Costamare

Costamare agreed to become the head investor in Neptune Maritime Leasing through an investment of up to $200 million. Costamare will also be appointing three additional members to the board of Neptune Leasing. read more

Class 8 Used Truck Retail Sales Increases 2% Month to Month in February

According to data from ACT Research, preliminary Class 8 same dealer used truck retail sales volume managed a small gain, rising 2% month to month in February. read more

Oxford Bank Appoints Goik and Lowman to Board of Directors

Oxford Bank appointed Michael Goik, president of Oxford Commercial Finance, and Matthew Lowman, Oxford Bank executive vice president and chief risk officer, to its board of directors, effective immediately. read more

Trinity Industries Acquires RSI Logistics for $70MM

Trinity Industries acquired RSI Logistics for a purchase price of $70 million. RSI Logistics is a data-centric provider of proprietary software, logistics services and terminal management solutions for the North American rail industry. read more

Ares Commercial Finance Provides $31.2MM Senior Secured Credit Facility

Ares Commercial Finance provided a $31.2 million senior secured credit facility for a family-owned and operated manufacturer and distributor of high-quality home and garden equipment for professional and consumer use. read more

MetLife Investment Management Originates $15.1B in 2022

MetLife Investment Management, the institutional asset management business of MetLife, originated $15.1 billion in private placement debt and private structured credit across 245 transactions in 2022. read more

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