Israel Discount Bank of New York (IDB Bank) has selected Wolters Kluwer Compliance Solutions’ Deposit E-Forms Module (DEMx) Expansion Pack to help streamline and enhance the management of its document disclosure practices. Providing disclosures is a required and critical function of U.S. banks and credit unions as part of the account opening and servicing process. The Wolters Kluwer DEMx offering allows financial organizations to streamline their documentation processes, help ensure compliance with all regulatory requirements, maximize internal resources, and reduce turnaround times.

M&T Bank Corp. is buying People’s United Financial Inc. in an all-stock deal valued at about $7.6 billion. Branches of the two regional banks are sprinkled throughout the Northeast and mid-Atlantic.

Even though capital markets are opening up, U.S. retailers will continue to file for bankruptcy and close stores this year, due in part to their need to repay deferred rent from 2020, warned Andy Graiser, Co-President of A&G Real Estate Partners (A&G), in a conference call hosted by Jefferies, the investment bank and financial services company. Declining foot traffic only adds to that pressure, added the veteran real estate executive, and it is unclear whether mall traffic will bounce back anytime soon.

Citizens today announced that Peter Ulmer will join the bank’s Transitional Finance team as a Managing Director. He will report to Brent Hazzard, head of the Transitional Finance and ABL Group. A 20-year Wells Fargo veteran, Ulmer has extensive experience serving as a trusted strategic and financial partner to corporate clients throughout their business life cycle.

Capital Group, home of American Funds and one of the world’s largest investment management firms, announced today that Reggie Hedgebeth has joined as Chief Legal Officer. Hedgebeth replaces Jim Ryan, who is retiring after 27 years with the firm. Hedgebeth most recently served as executive vice president, general counsel and chief administrative officer for Marathon Oil Corporation. Hedgebeth previously served as general counsel, corporate secretary and chief compliance officer for Spectra Energy Corporation and general counsel for Spectra Energy Partners.

LBC Credit Partners (“LBC”), one of the leading providers of financing solutions to middle market companies, provided a senior secured credit facility to support the acquisitions of Diversified Air Systems (“DAS”) and Swanson Flo, Co. (“Swanson Flo”), by Motion & Control Enterprises (“MCE”), a portfolio company of Frontenac. LBC served as Agent for the senior secured credit facility.

LQD Business Finance, a leading tech-enabled alternative lender, launches the development of the world’s first Bitcoin business lending platform. This cutting-edge platform will make LQD Business Finance the first company to use Bitcoin as currency for commercial loans.

Tiger Group’s Commercial & Industrial (C&I) Division posted record sales of pro-grade audiovisual equipment in 2020, due in part to the need for live-event production companies to liquidate excess and underutilized gear as a result of business challenges created by Covid-19.

Brightwood Capital Advisors, a leading private credit firm focused on providing capital to growing North American middle-market businesses, today announced its 2021 promotions including Russell Zomback to Chief Financial Officer, Mike Katz to Managing Director, Investments and Chris Malone to Director, Investments.

Pitney Bowes Inc. (NYSE: PBI), a global technology company that provides commerce solutions in the areas of ecommerce, shipping, mailing and financial services, today announced that the Pitney Bowes Bank has signed a term loan and accompanying revolving line of credit, demonstrating its continued commitment to the small- and mid-market business community. The term loan was signed with pharmaceutical ingredient wholesale distributor SST Corporation (SST) of New Jersey and provides consolidation of existing debt. In addition, a revolving line of credit was extended to help the business compete and grow.

Bank Leumi USA announced today that it has booked and funded a $23.5M deal with Prestige Care, a third-generation family operator of 80 senior living and rehabilitation centers across eight states in the western United States. The deal includes a significant treasury management relationship for Leumi in the West Coast region.

Otterbourg P.C. announced today that Thomas P. Duignan has been named co-chair of the firm’s Finance Department. Mr. Duignan represents many prominent banks, commercial finance companies and other institutional lenders in connection with a wide range of transactions. He will join co-chair David Morse in guiding a financial group at Otterbourg that is firmly established as an industry leader.

The Company has retained Morgan, Lewis & Bockius L.L.P. as its legal counsel, RCS Real Estate Advisors to advise on all store leases, and KCP Advisory Group LLC’s Jacen Dinoff as Chief Restructuring Officer. The Company is seeking financing upon Bankruptcy Court approval to fund ongoing operations during the restructuring process.

Katten announced today that it has added highly regarded bankruptcy attorney Peter Knight to its Insolvency and Restructuring practice in Chicago, bolstering a national group that has been increasingly in demand as it continues to take on key roles in some of the most noted bankruptcy cases, representing debtors, independent directors, key creditor constituencies and stakeholders in major Chapter 11 and Chapter 15 cases throughout the country.

BHI, a full-service commercial bank, announced that its Food & Beverage Group has arranged a total of $61.6 million in two new financing transactions for clients Teasdale Latin Foods and Resnick Distributors. For Teasdale Latin Foods, BHI provided a revolving line of credit to refinance existing debt and support the working capital needs of the company.

Pacific Mercantile Bank (“the Bank”), the wholly owned subsidiary of Pacific Mercantile Bancorp (NASDAQ: PMBC), today announced that it has provided a $4.0 million revolving line of credit to CRU Data Security Group (“CDSG”), an end-to-end data storage company. The revolving line of credit provided by Pacific Mercantile Bank is part of a debt infusion into CDSG made alongside Merion Partners, a small business investment company. Veber Partners, a regional investment bank and advisor to CDSG, assisted with the acquisition and corporate reorganization.

Umpqua Bank, a subsidiary of Umpqua Holdings Corporation (NASDAQ: UMPQ), announced today the addition of Dave Ericksen to its Pacific Northwest (PNW) middle market banking leadership team as senior vice president and middle market director. Recognized as one of the PNW region's leading corporate bankers, Ericksen strengthens Umpqua's capacity to support the growth and evolution of the region's large middle market companies.

TAB Bank is pleased to announce the addition of Nilendu Saha to their Executive Leadership team as Chief Technology Officer. Nilendu comes to TAB Bank with over 25 years of experience in building and managing enterprise applications, data analytics platforms, and technology initiatives, and leading large and complex teams. As CTO of TAB Bank, he will be responsible for providing overall executive leadership and strategic direction for the entire Information Technology organization. His arrival at TAB Bank comes at a critical moment, as the bank is positioned to extend its reach into the Fintech marketplace with its Banking-as-a-Service/Open Banking platform and suite of APIs.

Biddeford Holdings LLC, a partnership between Gordon Brothers, the global advisory, restructuring and investment firm, and New Mill Capital, has acquired the real estate and machinery and equipment of a producer and marketer of packed bakery food. The assets include company-owned real estate and the machinery and equipment in Jacksonville, FL and Opelika, AL in addition to the company’s machinery and equipment at third-party facilities in Franklin, IN; Atlanta, GA; Biddeford, ME; and Rocky Mount, NC.

Consulting Solutions provides information technology staffing services with an expertise in handling a wide variety of IT projects, including establishing/converting/implementing various ERP and E-commerce platforms, cybersecurity tools and cloud migration. Consulting Solutions was established in 2016 by White Wolf Capital to facilitate a buy-build-hold strategy within the IT consulting and staffing industry.