News

Great Elm, Utica Leaseco Form Venture to Invest in Equipment Finance Transactions

Great Elm Capital launched Great Elm Utica, a joint venture between Great Elm Capital and Utica Leaseco, to co-invest in proprietary equipment financing transactions sourced by Utica Leaseco. read more

Credit Readings Across Securitized Equipment Lease Pools Improve in February

According to Kroll Bond Rating Agency’s February equipment loan and lease indices, remittance reports showed improving credit readings across securitized equipment loan and lease pools. read more

Jetcraft Commercial Acquires 14 Bombardier CRJ1000 Aircraft from HOP!

Jetcraft Commercial, the commercial aircraft division of global aircraft trading firm Jetcraft, acquired 14 Bombardier CRJ1000 airliners from HOP!, the regional arm of Air France. Jetcraft Commercial will begin taking delivery of the jets between this month and December. read more

ACT Research: Commercial Vehicle Orders ‘Essentially Flat’ in February

According to preliminary data from ACT Research, North American Class 8 net orders in February reached 21,000 units, while North American Classes 5-7 net orders reached 18,300 units. read more

Manufacturing Economic Activity Grows in March Amid Growing Demand

Economic activity in the manufacturing sector grew in February, with the overall economy achieving a 21st consecutive month of growth, according to the latest Manufacturing ISM Report on Business from the Institute for Supply Management. read more

Robins Financial Credit Union Acquires Persons Banking Company

Robins Financial Credit Union executed a definitive agreement to acquire Persons Banking Company, a state-chartered bank headquartered in Forsyth, GA. read more

Keepman Retires as CEO of KLC Financial, Thomas Takes Over as Successor

Marc Keepman, CLFP, founder, CEO and chairman of KLC Financial will retire. The company promoted Spencer Thomas, CLFP, to assume the role of CEO. read more

Tamarack Technology Hires Hedstrom as Director of Sales

Tamarack Technology hired Andrew Hedstrom as director of sales. In his role at Tamarack, Hedstrom will lead the development of a dedicated sales team to support the company’s product and service offerings as well as the recently launched Tamarack.ai. read more

WSFS Bank Promotes Davis to EVP and Chief Risk Officer

WSFS Bank promoted Christine E. Davis to executive vice president and chief risk officer. Davis is a certified public accountant and has been with WSFS for nearly 23 years, holding many different roles within its internal audit division. read more

KeyBank to Utilize RMA’s Commercial Credit Risk Benchmarking Service

KeyBank became the latest institution to join the Risk Management Association’s Credit Risk Navigator, which is powered by Automated Financial Systems, a provider of software solutions and services to financial institutions. read more

KBRA: Russia’s Invasion of Ukraine Will Negatively Impact Aircraft Leasing

According to Kroll Bond Rating Agency, the impact of Russia’s invasion of Ukraine on aircraft lessors and airlines will be felt throughout Europe and globally given the international role of lessors who lease aircraft to airlines all over the world, including in Russia, Ukraine and neighboring countries. read more

Services Economic Activity Retreats Slightly in February But Remains in Growth Mode

According to the Institute for Supply Management, economic activity in the services sector grew in February for the 21st month in a row despite what Anthony Nieves, chair of the ISM’s services business survey committee, called a “pullback” in some indexes. read more

CIT Provides $39.6MM in Financing for Industrial Facility in Baltimore

CIT’s real estate finance business served as sole lead arranger on a $39.6 million loan to an affiliate of Clarion Partners to finance the acquisition and development of Southside Logistics Center, an industrial facility in Baltimore. read more

Used Class 8 Retail Sales Volumes Decrease to Open 2022; Prices Continue to Increase

Used Class 8 retail volumes were 15% lower month over month in January, according to ACT Research. Longer term, volumes were down 37% year over year, while average prices were 7% higher compared with December and 83% more expensive than in January of 2021. read more

Key Equipment Finance Names Fowler VP, Equipment Finance Officer

Key Equipment Finance named Chris Fowler vice president and equipment finance officer. Fowler will be responsible for managing existing relationships and developing new ones within Key Equipment Finance’s footprint throughout central and southwest Ohio. read more

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