Category Archives: Capital‐Movements
According to Credit Union Times, Herndon, VA-based Northwest Federal Credit Union ($2.6 billion assets) has acquired substantially all of the assets of an Arizona business finance group that specializes in originating government-guaranteed loans.
Park Place Equity LLC of Scottsdale AZ is a nationally-known company that has built a reputable enterprise through the origination of small business loans that are guaranteed under the SBA’s 7(a) and 504 lending programs, and through the U.S. Department of Agriculture’s Business and Industrial (B&I) loan program.
Going forward, Park Place will conduct business as Park Place Equity, a division of Northwest Federal, according to information released by both companies. Northwest Federal is going to be acquainted as a nationally known brand within a short time adding the Park Place and the company’s presented platform and it is significant and supplementary experience in this lending field said by Chris McDonald, president/CEO of the credit union.
Joining Northwest Federal, Park Place Equity co-CEOs Jason Bengert and Chris Balestrino were clearly pleased with the acquisition. Bengert said, “We are proud to have been able to accomplish this goal and to have grown Park Place to the point of providing nearly $123 million in funding to businesses in our most recent year of operations.”
Park Place Equity was launched seven years ago with goal to deliver business owners with capital funding to launch and build their businesses.
“We consider the additional leverage provided by government guaranteed loans to represent one of the most compelling options for credit unions to expand member business lending,” said Chris McDonald, president/CEO of the credit union.
Old Line Bancshares announced the appointment of Elise Hubbard as Chief Financial Officer of its wholly-owned subsidiary, Old Line Bank. In her new role, Ms. Hubbard will be responsible for oversight of the company’s and the bank’s accounting and finance functions.
Ms. Hubbard has 17 years of experience in accounting and management, including 11 years in the commercial banking industry. She joined Old Line Bank in 2006 and has served as Senior Vice President of Accounting since 2013.
President and Chief Executive Officer of Old Line Bancshares, Inc. James W. Cornelsen is confident in Hubbard’s ability to lead the Bank’s financial operations. He said, “Elise’s growth within the organization has been serving Old Line Bank well and we are happy to have her take on the responsibilities of CFO.”
Ms. Hubbard obtained her Bachelor of Science degree in Accounting with minors in Business Management and Human Resources from the University of Maryland. She is a native and resident of Charles County.
About Old Line Bancshares
Old Line Bancshares, Inc. operates as the bank holding company for Old Line Bank, a Maryland chartered commercial bank headquartered in Bowie, Maryland. The Bank provides commercial banking products and services to consumers, professionals, small- and medium-sized businesses, and high net worth clients in Maryland. The company’s lending portfolio includes short to medium term commercial business loans, including lines of credit, revolving credit facilities, accounts receivable financing, term loans, equipment loans, SBA loans, standby letters of credit, and unsecured loans. Additional information about the Bank can be found at www.oldlinebank.com.
LaGrange Banking Co. in Columbus announced that it has hired Kenny Roberts as its Vice President and Commercial Lender. A Phenix City native, Roberts brings with him 43 years of experience in the banking industry, with the last 17 years focused on commercial, real estate, and construction loans.
Roberts is a highly skilled banker who possesses sales and production management, retail and commercial lending, customer service, operations, and personnel management skills. He worked in the banking business in the Columbus, Phenix City, and Smiths Station markets. Prior to joining LaGrange Bank, Roberts served the BB&T Bank for more than six years as Vice President, Certified Business Services Center. He also held several senior-level positions in Regions Bank, Colonial Bank, Wachovia FKA SouthTrust, and SouthTrust-Columbus, GA FKA First Columbus Community Bank.
Roberts earned his bachelor’s degree in finance from Auburn University and his master’s degree in business administration from the Troy University. He also attended the School for Bank Administration at the University of Wisconsin and holds a certificate in community bank administration.
LaGrange Bank’s newest VP is also very involved in civic activities. He was a past Chairman and now a Board Member of the Phenix City Russell County Chamber of Commerce. He also serves as a Board Member of the Columbus Regional Medical Foundation and a Deacon at the Lakewood Baptist Church.
About LaGrange Banking Company
LaGrange Banking Company (LBC) is Troup County’s first locally owned community bank in over twenty years. It is a state charter institution, currently with 25 employees. LBC provides a full range of banking services, both for business and personal needs. For more information, visit www.lagrangebank.com.
James W. Cornelsen, President and Chief Executive Officer of Old Line Bancshares, Inc. (Nasdaq:OLBK), announced the appointment of John Miller as Executive Vice President, Chief Credit Officer. Mr. Miller brings with him over 30 years of experience in the banking, real estate and construction lending industry, holding different management and lending positions.
The new EVP began his career at First National Bank of Maryland in the mid-70’s and afterwards, he held several senior level positions with several other financial institutions in the region including BankAnnapolis. In BankAnnapolis, Mr. Miller served as Senior Vice President managing the Commercial Real Estate Banking Division, as well as overseeing its Special Assets Resolution Group. Prior to his promotion, Mr. Miller worked for Old Line Bancshares for two years as Senior Vice President in the lending management team overseeing special assets.
Mr. Cornelsen said the Bank is pleased to welcome Mr. Miller as part of its executive management team. He added that, “John’s experience in commercial banking, real estate development and special assets will serve the Bank, and our customers, as we continue to make strategic moves to achieve our growth objectives.”
About Old Line Bancshares
Old Line Bancshares, Inc. operates as the bank holding company for Old Line Bank. The Bank provides commercial banking products and services to consumers, professionals, small- and medium-sized businesses, and high net worth clients in Maryland. The company’s lending portfolio includes short to medium term commercial business loans, including lines of credit, revolving credit facilities, accounts receivable financing, term loans, equipment loans, SBA loans, standby letters of credit, and unsecured loans. Additional information about the Bank can be found at www.oldlinebank.com.
Crestmark Bank announced the creation of a division focused on national SBA finance and the addition of three expert bankers as part of its expansion of SBA loan products. Crestmark has offered SBA loans to small- and medium-sized businesses for many years and this new division will further enhance their SBA capabilities by providing clients with creative capital solutions while maintaining high-quality service.
Crestmark named three talented and experienced bankers to join this new division: Jack Talkington, Senior Vice President; Christopher R. Soupal, Vice President, National Sales Director; and David Maiuri, Vice President, Director of Underwriting and Account Services.
Talkington has been with Crestmark since 2008 and he will oversee the new SBA division. He has extensive experience as a business leader and was a founding partner in Commercial Capital Lending. He headed several Crestmark national growth initiatives from concept to completion. Soupal has more than 17 years of diverse experience including origination, underwriting and management for loan products. He will be responsible for development of the SBA product portfolio. Meantime, Maiuri joined Crestmark in 2008 and served several credit/risk management positions.
Crestmark Bank President Mick Goik is excited to have a smart and motivated team. He said, “I can’t say enough about how Jack’s expertise has been an invaluable asset to our organization; Dave has proven himself to be an astute and hard worker, and Christopher’s unique experience, knowledge and high-energy personality will be perfect to lead this venture into the market nationwide.”
About Crestmark Bank
Crestmark Bank is a business-to-business lender specializing in providing working capital solutions for small- to medium-sized businesses. Financing solutions include asset-based lending, accounts receivable financing, lines of credit, factoring and machinery/equipment financing. It is headquartered in Michigan, and operates branch sites in California, Florida, Louisiana, Tennessee, New York, and Illinois. Additional information is found at the website: www.crestmark.com.
Hanmi Bank welcomes Anna Chung as Executive Vice President and Director of SBA Lending Division. In her new role, Chung will lead the Bank’s SBA Lending Division and will be responsible for managing the nationwide SBA loan production and operations.
C. G. Kum, President and Chief Executive Officer at Hanmi Bank, said they are excited to have Chung in the team. He said, “Her deep-rooted history in the SBA industry and extraordinary track-record of success will enable Hanmi to fulfill its goal to be one of the top SBA lenders.” Kum believes that Chung will help revitalize the Bank’s SBA lending program. He added that Hanmi is a preferred SBA lender and “has a long history of working with small businesses to fund their business needs.”
Prior to joining Hanmi Bank, Chung served the Wilshire Bank as Chief SBA Lending Officer. During that time, Wilshire Bank ranked the 9th largest SBA lender in the nation by lending volume for SBA 7(a) loan in the first quarter of fiscal year 2014. As Chief SBA Lending Officer, she was able to create one of the nation’s top SBA lending teams and a highly efficient process for underwriting SBA loans.
Chung joins Hanmi Bank with 31 years of experience in banking and SBA lending. She has held senior level executive positions with prominent community banks. She completed her SBA training with the National Association of Government Guaranteed Lenders (NAGGL), a trade association representing lenders that participate in the SBA Program. Currently, she is a member of the Technical Committee and Region IX Liaison Committee of the NAGGL.
About Hanmi Bank
Hanmi Bank is a wholly-subsidiary of Hanmi Financial Corporation headquartered in Los Angeles. It provides services to the multi-ethnic communities of California and operates 27 full-service branch offices in Los Angeles, San Francisco, Orange, Santa Clara, and San Diego counties. It specializes in commercial, SBA and trade finance lending. For more information, visit www.hanmi.com.
Sussex Bank announced the promotion of Neill Schreyer from Senior Vice President to Executive Vice President. Schreyer joined the Bank in July of 2009 as a Loan Workout Officer. After 11 months, he was promoted Senior Vice President and Chief Credit Officer.
Anthony Labozzetta, President and Chief Executive Officer of Sussex Bank, said Schreyer has been instrumental in helping the bank reach is top two goals: first is reducing non-performing assets, and second is building its business. Schreyer has over 30 years of banking experience in branch banking and lending, including credit risk management, commercial/real estate underwriting, and credit administration.
Before joining the Bank, Schreyer was division head for The Bank of New York’s Small and Middle Loan Workout Division. More recently, he served Noble Community Bank as Chief Loan Officer. The new Executive Vice President earned his bachelor’s degree from Rutgers University and a master’s degree in business administration from Fairleigh Dickinson University.
Schreyer resides in Wantage with his wife, Deborah, and their two children, Tim and Ashley.
About Sussex Bank
Founded in 1975, Sussex Bancorp is the holding company of Sussex Bank and is based in Franklin, New Jersey. Sussex Bank is a diversified financial services corporation which provides commercial banking and related financial services to individual, business, and government customers. It operates through 10 banking offices, including 8 offices located in Sussex County, New Jersey; and 2 in Orange County, New York, as well as a loan production and insurance agency satellite office in Rochelle Park, New Jersey. To learn more, visit the Bank’s website at www.sussexbank.com.
Bridge Bank welcomes David Jackson as he joins its SBA Lending Group as Senior Vice President and Group Manager. In his new role, Jackson will be responsible for managing SBA lending for the bank, including overseeing a team of relationship managers, credit analysts, and operations officer. He brings with him over 25 years of banking experience. Prior to joining Bridge Bank, Jackson served as Senior Vice President and Group Manager of Middle Market Lending for Comerical Bank.
According to Ralph Barnett, executive vice president and division manager of Bridge Bank’s Real Estate Lending Division, “David has demonstrated the leadership and skills that will assist Bridge Bank in continuing to grow our SBA lending program.” He added that Jackson’s experience in business lending and crafting solutions for small businesses will allow the Bank to remain on top among banks providing the banking needs of clients.
Jackson looks forward to serving Bridge Bank. He said, “My career has focused on providing excellent business banking solutions and I look forward to continuing that tradition by providing value added solutions for SBA prospects and customers.”
Jackson obtained a Bachelor of Arts degree in Economics and an MBA from the University of Michigan at Ann Arbor.
About Bridge Bank
Bridge Bank is a full-service professional business bank founded in the highly competitive climate of Silicon Valley in 2001. It provides a broad range of financial solutions to meet the varied needs of clients across all stages — from inception to IPO and beyond. To learn more, go to the Bank’s website: www.bridgebank.com.
Arthur Haan has joined First Internet Bank of Indiana to lead their entry into residential construction lending. Mr. Haan has over 20 years experience in residential mortgage lending.
First Internet Bank of Indiana recently announced expansion into construction lending to support and expand its residential lending business lines. They plan to offer programs that allow homeowners to finance the construction of a new home and convert it to a mortgage loan upon project completion with only one closing.
“Art has a deep understanding of residential mortgage lending and has created strong ties within the community,” stated David Becker, the bank’s President and CEO. “He is passionate about creating a smooth, seamless experience for the borrower, which is consistent with our culture.”
“I am thrilled to be building a team at First Internet Bank,” said Haan. “The bank has a finely tuned mortgage lending operation to process the loans we will originate, with an emphasis on customer service and strong credit quality.”
Construction lending will be offered by the bank exclusively in the local Indiana market where the bank is headquartered.
About First Internet Bank
First Internet Bank offers online banking services to customers in all 50 states in real time, as well as checking, savings and banking services, along with mortgage and home equity loan services. The bank is a unit of First Internet Bancorp and in addition to president, David B. Becker, is led by chief credit officer Kay Whitaker.
Learn more at First Internet Bank here.
Export-Import Bank of the United State (Ex-Im Bank), the official export credit agency of the country, is proud to announce that Amegy Bank, N.A. (Amegy Bank) has received the Small Business Lender of the Year award. The award was presented at the Bank’s 39th Annual Conference in Washington, D.C.
Amegy Bank is based in Houston, Texas and has consistently been among Ex-Im Bank’s most outstanding lending partners in the Working Capital Program by promoting guarantees and short-term insurance to qualified small businesses. In FY 2013, the Bank achieved a milestone by reaching more than $100 million in authorizations, 76% of which were small business transactions. From 2010 to 2013, Amegy Bank has closed 66 working capital guarantees, totaling more than $282.9 million. Of that total, $200 million has supported small business export sales.
Ex-Im Bank focuses on providing American small businesses with financing they need to succeed. In a statement, Ex-Im Bank Chairman and President Fred P. Hochberg said, “Amegy Bank’s strong support of U.S. exports demonstrates our shared commitment to making sure the backbone of our economy – American small businesses – can compete in the global economy and create jobs here at home.”
Amegy Bank has been participating in the Ex-Im Bank’s Working Capital Program for 20 years. T.J. Raguso, Executive Vice President of the International Division at Amegy Bank, said the Bank relies heavily on the program to deliver the needed export financing of their small business customers. He added, “The program helps our customers compete globally and grow revenue.”
About Amegy Bank
Founded in 1990, Amegy Bank operates in Houston, Texas and currently employs about 2,000 employees. It has $50 million in assets in addition to $11 billion in assets under management. It specializes in banking privately owned businesses of all sizes and public companies in all industries with additional expertise in real estate, energy, and correspondent banking. To learn more, go to the Bank’s website at www.amegybank.com.