Today’s News

Carlyle Aviation Completes Acquisition of Fly Leasing

An affiliate of Carlyle Aviation Partners completed its previously announced acquisition of Fly Leasing. The closing of the transaction follows the receipt of regulatory approval and approval by Fly Leasing's shareholders. read more

Newtek Business Services Acquires National Bank of New York City

Newtek Business Services, an internally managed business development company, entered into an agreement to acquire National Bank of New York City for $20 million in cash. The acquisition is part of a plan to reposition Newtek as a bank holding company. read more

First Foundation Bank Expands Commercial Banking Team in Los Angeles

First Foundation Bank expanded its team with the appointment of Matthew Ashworth as senior vice president and director of commercial banking, Leeza Jinian as senior vice president and commercial banking manager and Yenee Mesfin as senior vice president and commercial banker. read more

Detmar Logistics Reserves 300 Hypertruck ERX Units from Hyliion

Detmar Logistics executed a reservation agreement covering 300 Hypertruck ERX systems with Hyliion, a provider of electrified powertrain solutions for Class 8 semi-trucks. read more

TowneBank Names Schwartz President and Chief Operating Officer

TowneBank’s board of directors elected Brad Schwartz as president and chief operating officer. Schwartz will succeed J. Morgan Davis, who will continue to serve as CEO of the company. read more

Manufacturing Sector Continues to Grow Despite Challenges with Meeting Demand

Economic activity in the manufacturing sector grew in July, although at a slower rate than June, with the overall economy notching a 14th consecutive month of growth, according to the Manufacturing ISM Report on Business from the Institute for Supply Management. read more

Aviation Capital Group Delivers Airbus A321neo to Viva Aerobus

Aviation Capital Group, an aircraft asset manager, delivered one new Airbus A321neo aircraft on long-term lease to Viva Aerobus. read more

TAB Bank Provides $9MM Asset-Based Credit Facility to Chemical Manufacturer

TAB Bank provided a $9 million asset-based credit facility to a chemical manufacturer in Texas. The facility included a $6 million accounts receivable and inventory line and a $2 million equipment loan with additional equipment funding available for future capex needs. read more

Quality Leasing Adds O’Connor as Sales Consultant

Quality Leasing, the commercial equipment financing subsidiary of the Tom Wood Group, hired Patrick R. O’Connor, CLFP, as a sales consultant. O’Connor joined Quality Leasing with more than 12 years of experience in various financial industry roles, most recently serving as director of sales and capital markets at TimePayment. read more

Global Smartphone Market Grows 13.2% in Q2/21 Despite Vendor Shakeups

The rebound from 2020 continued for smartphones in Q2/21, as overall shipment volumes grew 13.2% year over year, according to International Data Corporation, slightly beating IDC's forecast of 12.5% growth. read more

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Terry Mulreany
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