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CIT Names Ronan National Sales Director for Capital Equipment Finance Business

CIT appointed Kevin Ronan national sales director for its capital equipment finance business. Ronan will oversee business development within capital equipment finance for CIT’s direct and indirect sales channels. read more

Verdant Commercial Capital Adds Karpinecz as VP, Relationship Manager

Verdant Commercial Capital hired Jennifer Karpinecz as a vice president and relationship manager. She will work with industrial and construction companies in the eastern United States. read more

Citizens Financial Enters Merger Agreement with Investors Bancorp, Transaction Valued at $3.5B

Citizens Financial Group and Investors Bancorp entered into a definitive agreement and plan of merger under which Citizens will acquire all of the outstanding shares of Investors for a combination of stock and cash. read more

Ascentium Capital Reports 41% Y/Y Increase in Originations in Q2/21

Ascentium Capital reported 41% year-over-year origination growth in Q2/21. read more

Signature Financial Promotes Equipment Finance Industry Veterans Campbell and Ash

Signature Financial promoted Robert Campbell to senior vice president and managing director of operations and strategic development and Michael Ash to senior vice president and managing director of capital markets and regional originations. read more

Peoples Bancorp Receives Regulatory Approval for Merger with Premier Financial Bancorp

Peoples Bancorp, the parent company of Peoples Bank, received all necessary regulatory approvals for the merger between Peoples and Premier Financial Bancorp and for the mergers between Peoples Bank and Premier's wholly-owned subsidiary banks. read more

Former Maxium Financial Execs Launch Care Lending Group

Care Lending Group launched its new financing company led by CEO Paul McLean. With an initial portfolio in excess of $60 million, the company offers lending solutions to the golf and healthcare industries and other niche markets. read more

Trucking Industry Praises Introduction of the Modern, Clean, and Safe Trucks Act

The American Trucking Associations praised the introduction of the Modern, Clean, and Safe Trucks Act of 2021. The bipartisan legislation would repeal the 12% federal excise tax on heavy-duty trucks, which currently adds approximately $22,000 to the cost of a new tractor-trailer. read more

ELFA’s Survey of Equipment Finance Activity Reveals 7% Y/Y Decline in New Business Volume in 2020

According to Equipment Leasing and Finance Association’s 2021 Survey of Equipment Finance Activity, new business volume in the equipment finance industry decreased 7% year over year in 2020, marking the first time in a decade that businesses decreased their overall spending on capital equipment. read more

FDIC Approves Proposed Merger of First Citizens and CIT

The Federal Deposit Insurance Corporation approved the proposed merger of First Citizens BancShares, the parent company of First Citizens Bank & Trust Company, and CIT Group, the parent company of CIT Bank. read more

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