The Bancorp announced the acquisition of the commercial leasing assets of Ellis Brooks Leasing, an independent commercial and fleet leasing company located in San Francisco.

This transaction will expand The Bancorp’s commercial fleet leasing presence on the West Coast, adding a California office to The Bancorp’s existing office in Kent, WA.

An expanded West Coast presence will give The Bancorp a greater geographic area in which to provide lessees with direct access to the funding source as well as to an experienced team of leasing specialists. An office in San Francisco gives The Bancorp opportunities to offer leasing solutions for California municipalities and state agencies, as well as for small and mid-size businesses in the state.

Heading the expansion will be Jeff Barron, the key member of the Ellis Brooks Leasing team, who joins The Bancorp as VP and regional sales manager.

“I look forward to growing The Bancorp’s business in San Francisco – and in all of California – by leveraging the existing resources of Ellis Brooks Leasing, with the support of The Bancorp’s Commercial Fleet Leasing team,” said Barron.

Barron, instrumental in the growth of Ellis Brooks Leasing (where he served as president since 2000), brings more than 25 years of experience in the vehicle leasing industry to The Bancorp. He has been a director and/or officer of the National Vehicle Leasing Association since 1991 and was awarded the organization’s prestigious Clemens-Pender Lifetime Achievement Award in 2000.

“We had been looking for the right opportunity to expand our West Coast presence since establishing an office in Kent, WA,” said Scott Megargee, The Bancorp’s EVP and chief lending officer. “Acquiring the commercial leasing assets of Ellis Brooks Leasing is a demonstration of our commitment to working with small independent leasing companies either to serve their lending overflow needs or to affect a win/win acquisition.”