News

Hawthorn Bank Names Bowers Chief Strategy Officer

Jefferson City, MO-based Hawthorn Bank named John Bowers its new chief strategy officer. Bowers will be responsible for formalizing and leading the development of the organization’s strategic planning processes and translating the strategy across functions and business units. read more

Xerox Expands Financial Services Program with PEAC Solutions

Xerox and PEAC Solutions expanded their partnership for the provision of certain leasing and financial services programs to Xerox’s FITTLE network of independent dealers and resellers. read more

Stearns Bank Acquires Majority of Contract Capital Corporation

Stearns Bank acquired a majority stake in Contract Capital Corporation, a provider of specialized financing services to managed service providers. read more

Société Générale’s Equipment Finance Division Could Be Sold

According to Reuters, Société Générale may consider selling its equipment finance division, with the bank viewing “the business as non-core.” read more

Great American Insurance and TrustLayer Partner to Bring Embedded Coverage to Equipment Leasing

Great American Insurance Group’s specialty equipment division and TrustLayer launched a real-time tracking solution for the equipment finance industry to enhance the API-driven coverage solutions that Great American Specialty Equipment provides to the equipment leasing industry. read more

AP Equipment Financing Secures $200MM Credit Facility from Wells Fargo

AP Equipment Financing finalized a $200 million credit facility from Wells Fargo to capitalize on increasing demand from customers and dealer partners. read more

U.S. Bank Launches Initiative to Serve Healthcare Practices, Persichetti to Lead

U.S. Bank launched a new cross-business initiative to serve healthcare practices with up to $25 million in annual revenue, appointing Joe Persichetti head of healthcare business banking to lead the effort. read more

First Citizens Provides $29MM to Onicx Group to Refinance Medical Office Buildings

First Citizens Bank’s healthcare finance business, part of the CIT division, provided $29 million to Onicx Group to refinance two medical office buildings located on the campuses of Florida Trinity Hospital and Poinciana Hospital. read more

Trustmark Adds Goldman as Equipment Finance Director Originator Officer

Russell Goldman joined Trustmark as first vice president and equipment finance direct originator officer, according to a LinkedIn post from the company. read more

Citi Adjusts Organizational Structure to Simplify Operating Model

Citi unveiled changes to its organization model, introducing a new, flatter structure that elevates the leaders of five businesses and eliminates management layers with the goal of accelerating decision making, increasing accountability and strengthening client focus. read more

Regions Bank Appoints New Risk Management Executives

Regions Bank appointed Anna Brackin chief compliance officer to oversee the bank’s compliance risk management program, while Gary Walton recently joined the bank as business unit chief risk officer for Regions’ consumer banking and wealth management divisions. read more

ELFA to Host Webinar Focused on the Use of Artificial Intelligence in Marketing

The Equipment Leasing and Finance Association will host a webinar on Sept. 28 to address the use of artificial intelligence for marketers. read more

Texas Capital Expands Energy Corporate & Investment Banking Team

Texas Capital Bancshares hired Marc Graham as head of energy and a team of energy investment banking veterans. In addition, the company is adding managing directors Michael Bodino, Christian Gibson and Randall Byrne to its energy investment banking team. read more

Xactus Now Offering PayNet’s Credit History Reports

Xactus, a provider of business data and intelligent insights to the equipment leasing/finance industry, is now offering credit reports from PayNet, powered by Equifax. read more

Assurant Earns Place on TIME’s 2023 List of the World’s Best Companies

Assurant, a business services company that supports, protects and connects major consumer purchases as well as commercial equipment, was recognized on TIME’s 2023 list of the world’s best companies. read more

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Terry Mulreany
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