SouthState Bank Launches Equipment Finance Division, Hobbs to Lead

SouthState Bank launched an equipment finance specialty to create additional lending capabilities and to support its commercial customers. SouthState Equipment Finance will initially focus on the manufacturing, transportation and construction industries.

SouthState promoted Chris Hobbs, a 25-year equipment financing and leasing executive, to managing director for SouthState Equipment Finance. Hobbs, who will lead the newly formed specialty, has been with the bank for more than two years, working with the middle-market banking group in Raleigh, NC. Working with Hobbs will be a team of equipment finance risk, operations and documentation loan administrators. The team will also receive support from the middle-market banking team.

“As one of the leading regional banks in the Southeast, creating this equipment finance specialty under the leadership of Chris Hobbs, an expert in the field, is a key next step in our commercial and middle-market banking strategy,” Greg Lapointe, chief banking officer for SouthState Bank, said.

Hobbs will be based in Raleigh, NC, and continue to advise the commercial and middle-market banking divisions on equipment finance risk and asset management. He will also assist bankers in successfully winning new equipment financing transactions.

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