Last Week’s Top Stories

GATX Q3 Earnings Reflect “Challenging Conditions”

GATX reported Q3/17 net income of $49.0 million compared to net income of $95.7 million in Q3/16. CEO Brian Kenney said, “Challenging conditions continue in the NA railcar leasing market." read more

Signature Bank Back on Track after Taxi Medallion Episode

Signature Bank reported Q3/17 net income was $124.5 million versus $76.1 million in the same 2016 quarter, which included $61.7 million of provision expense for the Chicago taxi medallion portfolio. read more

Peapack Capital Names Rich Johnston SVP, Indirect Originations

Peapack-Gladstone announced the appointment of Rich Johnston, senior vice president, Capital Markets, Peapack Capital. Johnston will be responsible for indirect originations of leasing and asset finance transactions. read more

Harvard Partners Announces Investment Interests in Commercial Finance

Harvard Partners is seeking to invest in, or purchase, small innovative U.S.-based commercial finance firms. read more

Mining Company Rio Tinto, Former Top Executives Charged with Fraud

The SEC charged mining company Rio Tinto and two former top executives with fraud for inflating the value of coal assets acquired for $3.7 billion and sold a few years later for $50 million. read more

Former GE Capital Exec Joins Wells Fargo to Launch Hotel Franchise Unit

Wells Fargo formed a Hotel Franchise Finance division and has hired Scott Andrews to lead the unit. Andrews previously ran the middle market Hotel Franchise Finance division at GE Capital. read more

Survey Shows Modest Growth in Equipment Finance Industry Compensation

Compensation in the equipment finance industry increased modestly in 2016, according to a survey from the Equipment Leasing and Finance Association and McLagan. read more

Pawnee Leasing, Chesswood Close First U.S. Securitization

Chesswood Group’s largest subsidiary, Pawnee Leasing, closed a new $75 million non-recourse asset backed facility with Capital One through its Pawnee Receivable Fund I LLC. read more

Siciliano Steps Down as EVP, COO of Marlin Business Services

Edward Siciliano stepped down as executive vice president and chief operating officer of Marlin Business Services. read more

Wells Fargo Reports 8.5% Increase in Lease Financing Average Balances

Wells Fargo reported lease financing average balances for the first nine months of 2017 were $19.1 billion, up 8.5% from $17.6 billion a year earlier. The YTD yield of 4.78% was down from 4.86% in 2016. read more

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