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Provident Bank and Lakeland Bank to Combine in $1.3B Merger

Provident Financial Services, the parent company of Provident Bank, and Lakeland Bancorp, the parent company of Lakeland Bank, will combine in an all-stock merger valued at approximately $1.3 billion. read more

ELFA Survey Shows Increase in Compensation in the Equipment Finance Industry

According to the 2022 Equipment Leasing and Finance Compensation Survey released by the Equipment Leasing and Finance Association, compensation in the equipment finance industry returned to steady increases in 2021. read more

Ritchie Bros. Sells More Than $71MM of Equipment at Auction

At a recent auction in Fort Worth, TX, Ritchie Bros. sold close to 5,000 equipment items and trucks over three days for more than $71 million in gross transaction value, up 25% from the same auction last year. read more

Willis Lease Finance and Air India Sign Sale and Leaseback Deal for Airbus A320 Fleet

Air India signed definitive sale and lease back agreements with Willis Lease Finance, headquartered in Florida, for 34 CFM56-5B engines installed on its Airbus A320 family fleet. read more

Wheels Donlen Launches New Equipment Finance Platform Capteris Capital

Wheels Donlen, a fleet financing company backed by Apollo, launched a new equipment finance platform, Capertis Capital. read more

PEAC Solutions Adds Story as Regional Sales Manager for CT&I Division

PEAC Solutions continued to expand its global construction, transportation and industrial (CT&I) business unit in the United States by hiring Warren Story as regional sales manager. read more

Peapack Capital Appoints Smith President, Johnston National Director of Sales

Peapack-Gladstone Bank enhanced its equipment finance and leasing subsidiary, Peapack Capital, by naming Dennis Smith president of the division and appointing Richard Johnston national director of sales.  read more

US Bancorp and Mitsubishi UFJ Financial Group Extend Purchase Agreement

U.S. Bancorp and Mitsubishi UFJ Financial Group extended the outside termination date of the purchase agreement for U.S. Bank’s acquisition of MUFG from Sep. 30, 2022, to Dec. 31, 2022. read more

DLL Expands Construction, Transportation and Industrial New Business Development Team

DLL expanded its construction, transportation and industrial (CT&I) new business development team, as Michael Hart, who has served as the head of new business development for the Americas since 2019, will be joined by Steve Hope while Daniel Foster’s role is expanded. read more

PEAC Solutions Introduces Expanded Broker Team

PEAC Solutions hired Ray Shilling to join Jeff Schubert as a director of sales to enhance the recently rebranded company’s broker program. Schubert will specialize in working capital loans and Shilling will focus on the equipment finance business. read more

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Terry Mulreany
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