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CIT Names David Harnisch President of Commercial Finance as Jim Hudak Retires

CIT Group Inc. (NYSE: CIT) today announced that David Harnisch will join the company as president of Commercial Finance, effective Sept. 23, 2019. Harnisch will succeed the current president of Commercial Finance Jim Hudak who has elected to retire following a 20-year career at CIT, effective Sept. 3, 2019.
Fifth Third Bank Announces Leadership for San Francisco Expansion Strategy

Fifth Third Bancorp (Nasdaq: FITB) announced today that Peter Gruebele has joined Fifth Third as senior vice president and San Francisco market executive. In this role, he will report to Joseph Yurosek, California market president for Fifth Third Bank.
PNC Bank Provides Financing to Nursery Supplier

PNC Bank, National Association, announced today the closing of an $18.5 million senior secured credit facility for Sandusky, Ohio-based August Corso Sons, Inc. (Corso). PNC Bank, N.A., served as administrative agent.
Wells Fargo Unveils Commercial Banking Leadership in the Northeast

Wells Fargo (NYSE: WFC) today announced its Commercial Banking leadership team for the Northeast, which includes leaders serving businesses in New England, Western New York, and Eastern Canada. The new leadership team stems from the bank’s recently announced structure for its Commercial Banking business.
Capital One Signs Agreement to Acquire KippsDeSanto & Co.

Capital One has entered into an agreement to acquire KippsDeSanto & Co. a leading investment banking firm focused on serving growth-oriented aerospace/defense, government services and technology companies. Based in Tysons Corner, Va. in the Washington, DC region, KippsDeSanto has a national practice specializing in merger and acquisition advisory services.
Three Ways to Improve Your Risk Performance Through Data Technology
Aug 19, 2019

By embracing technology, you can collect, analyze and respond quickly to easily accessible data that helps you accomplish three things simultaneously: mitigate risk, improve efficiency, and develop your organization’s talent.
Avenue Enters Voluntary Reorganization Proceeding to Facilitate Restructuring

Pursues going concern sale of its strong e-commerce business while conducting store closing sales at all ‘brick and mortar’ locations. Company obtains debtor-in-possession financing to support an orderly process.
Cars Aren’t Dead: They’re Just Morphing into What Comes Next

If, indeed, the traditional car as we have known it is “dead”, and its current successors are likely to be short-lived placeholders for what is to come… to understand what’s next and how it will impact the asset-based valuations we perform in the automotive industry, it is necessary to first understand how we got here.
CIT to Acquire Mutual of Omaha Bank

Enhances and diversifies CIT’s funding profile with Mutual of Omaha Bank’s market-leading homeowners association banking business, a source of scalable lower-cost deposits. Extends middle market commercial banking capabilities with expanded products, technology solutions and geographic footprint, Advances strategic plan and accelerates shareholder value creation.
Interview with Bruce Sprenger: Former SFNet Chairman Retires from Fifth Third after 40 Years in the Industry
Aug 13, 2019

Bruce Sprenger retired from his position as SVP Group Head for Fifth Third Business Capital at the end of June, after 40 years in the industry. Here, he looks back on his career.
Siena Lending Group LLC Announces the Closing of a $14.6 Million Credit Facility for Innovative Hearth Products
Aug 14, 2019

Siena Lending Group LLC (“Siena”) announces the completion of a $14.6 million asset-based revolving line of credit and term loan for Innovative Hearth Products (“IHP”). The facility was used to refinance certain debt and to provide additional working capital to support IHP’s long-term growth initiatives.
Colleen Taylor to Lead Wells Fargo Merchant Services
Aug 12, 2019

Wells Fargo & Company (NYSE: WFC) today announced that Colleen Taylor will join Wells Fargo as head of Wells Fargo Merchant Services, responsible for the strategic direction and management of the merchant services business and a joint venture with Fiserv. She will report to Danny Peltz, head of Treasury, Merchant and Payment Solutions.
Troubled Farms Navigate Options
Aug 12, 2019

Today, the U.S. farm sector is in crisis and, by many accounts, the full scale and scope of that crisis is something this nation has not seen since the Farm Crisis of the 1980s, when a confluence of micro and macroeconomic factors led to the failure of thousands of farms. Today, the challenges are both varied and formidable.
Wells Fargo Leads $825 Million in Financing for the Acquisition of Barnes & Noble
Aug 8, 2019

Wells Fargo Capital Finance, part of Wells Fargo & Company (NYSE:WFC), announced today that it acted as administrative agent, lead arranger and book runner for an $825 million asset-based credit facility in connection with the acquisition of Barnes & Noble, Inc. (NYSE:BKS) by Elliott Advisors (UK) Limited.
Secured Finance Foundation – Where We Were and Where We’re Going

The Secured Finance Foundation, a 501c3 organization, has been busy this past year rolling out new programs that benefit our industry. Some of the important initiatives from 2019 include commissioning and delivering a groundbreaking Market Sizing & Impact Study, with assistance from Ernst and Young, LLP, which is free to our members and donors..
MidCap Financial Provides a $60 Million Senior Secured Credit Facility to Celadon Group, Inc.
Aug 6, 2019

MidCap Financial today announced it has provided a $60 million senior revolving credit facility to Celadon Group, Inc. ("Celadon"), a North American transportation company that provides full-truckload freight services across the United States, Canada, and Mexico.
Guarded Optimism Prevails as Executives Chart the Future
Aug 1, 2019

Strengthening Bank Relationships Is Crucial to Seize Business Opportunities in the Potential Economic Downturn
White Oak Healthcare Finance Provides $81 Million Credit Facility to GMF Capital
Aug 6, 2019

The funds were used to refinance a portfolio of 14 skilled nursing facilities concentrated in Ohio and Kentucky. As part of the transaction, White Oak also provided a $15.0 million line of credit to the operating company.
Citizens Commercial Banking leads new financing for Octo’s acquisition of Connexta
Aug 5, 2019

Citizens Commercial Banking led new financing for Octo, a Reston, Va.-based provider of next-generation solutions for the federal market, that was used to acquire Connexta, a Phoenix, Ariz.-based leader in open source software development and secure discovery solutions for government and commercial customers.
AloStar Capital Finance Provides $30 Million Credit Facility to BlackRiver Business Capital
Aug 1, 2019

AloStar Capital Finance successfully agented and closed a $30 million credit facility to BlackRiver Business Capital (doing business as ACG Equipment Finance), an equipment finance company focused on the small-to-mid-ticket market from $10,000-$250,000.

CIT Names David Harnisch President of Commercial Finance as Jim Hudak Retires

CIT Group Inc. (NYSE: CIT) today announced that David Harnisch will join the company as president of Commercial Finance, effective Sept. 23, 2019. Harnisch will succeed the current president of Commercial Finance Jim Hudak who has elected to retire following a 20-year career at CIT, effective Sept. 3, 2019.
Fifth Third Bank Announces Leadership for San Francisco Expansion Strategy

Fifth Third Bancorp (Nasdaq: FITB) announced today that Peter Gruebele has joined Fifth Third as senior vice president and San Francisco market executive. In this role, he will report to Joseph Yurosek, California market president for Fifth Third Bank.
PNC Bank Provides Financing to Nursery Supplier

PNC Bank, National Association, announced today the closing of an $18.5 million senior secured credit facility for Sandusky, Ohio-based August Corso Sons, Inc. (Corso). PNC Bank, N.A., served as administrative agent.
Wells Fargo Unveils Commercial Banking Leadership in the Northeast

Wells Fargo (NYSE: WFC) today announced its Commercial Banking leadership team for the Northeast, which includes leaders serving businesses in New England, Western New York, and Eastern Canada. The new leadership team stems from the bank’s recently announced structure for its Commercial Banking business.
Capital One Signs Agreement to Acquire KippsDeSanto & Co.

Capital One has entered into an agreement to acquire KippsDeSanto & Co. a leading investment banking firm focused on serving growth-oriented aerospace/defense, government services and technology companies. Based in Tysons Corner, Va. in the Washington, DC region, KippsDeSanto has a national practice specializing in merger and acquisition advisory services.
Three Ways to Improve Your Risk Performance Through Data Technology
Aug 19, 2019

By embracing technology, you can collect, analyze and respond quickly to easily accessible data that helps you accomplish three things simultaneously: mitigate risk, improve efficiency, and develop your organization’s talent.
Avenue Enters Voluntary Reorganization Proceeding to Facilitate Restructuring

Pursues going concern sale of its strong e-commerce business while conducting store closing sales at all ‘brick and mortar’ locations. Company obtains debtor-in-possession financing to support an orderly process.
Cars Aren’t Dead: They’re Just Morphing into What Comes Next

If, indeed, the traditional car as we have known it is “dead”, and its current successors are likely to be short-lived placeholders for what is to come… to understand what’s next and how it will impact the asset-based valuations we perform in the automotive industry, it is necessary to first understand how we got here.
CIT to Acquire Mutual of Omaha Bank

Enhances and diversifies CIT’s funding profile with Mutual of Omaha Bank’s market-leading homeowners association banking business, a source of scalable lower-cost deposits. Extends middle market commercial banking capabilities with expanded products, technology solutions and geographic footprint, Advances strategic plan and accelerates shareholder value creation.
Interview with Bruce Sprenger: Former SFNet Chairman Retires from Fifth Third after 40 Years in the Industry
Aug 13, 2019

Bruce Sprenger retired from his position as SVP Group Head for Fifth Third Business Capital at the end of June, after 40 years in the industry. Here, he looks back on his career.
Siena Lending Group LLC Announces the Closing of a $14.6 Million Credit Facility for Innovative Hearth Products
Aug 14, 2019

Siena Lending Group LLC (“Siena”) announces the completion of a $14.6 million asset-based revolving line of credit and term loan for Innovative Hearth Products (“IHP”). The facility was used to refinance certain debt and to provide additional working capital to support IHP’s long-term growth initiatives.
Colleen Taylor to Lead Wells Fargo Merchant Services
Aug 12, 2019

Wells Fargo & Company (NYSE: WFC) today announced that Colleen Taylor will join Wells Fargo as head of Wells Fargo Merchant Services, responsible for the strategic direction and management of the merchant services business and a joint venture with Fiserv. She will report to Danny Peltz, head of Treasury, Merchant and Payment Solutions.
Troubled Farms Navigate Options
Aug 12, 2019

Today, the U.S. farm sector is in crisis and, by many accounts, the full scale and scope of that crisis is something this nation has not seen since the Farm Crisis of the 1980s, when a confluence of micro and macroeconomic factors led to the failure of thousands of farms. Today, the challenges are both varied and formidable.
Wells Fargo Leads $825 Million in Financing for the Acquisition of Barnes & Noble
Aug 8, 2019

Wells Fargo Capital Finance, part of Wells Fargo & Company (NYSE:WFC), announced today that it acted as administrative agent, lead arranger and book runner for an $825 million asset-based credit facility in connection with the acquisition of Barnes & Noble, Inc. (NYSE:BKS) by Elliott Advisors (UK) Limited.
Secured Finance Foundation – Where We Were and Where We’re Going

The Secured Finance Foundation, a 501c3 organization, has been busy this past year rolling out new programs that benefit our industry. Some of the important initiatives from 2019 include commissioning and delivering a groundbreaking Market Sizing & Impact Study, with assistance from Ernst and Young, LLP, which is free to our members and donors..
MidCap Financial Provides a $60 Million Senior Secured Credit Facility to Celadon Group, Inc.
Aug 6, 2019

MidCap Financial today announced it has provided a $60 million senior revolving credit facility to Celadon Group, Inc. ("Celadon"), a North American transportation company that provides full-truckload freight services across the United States, Canada, and Mexico.
Guarded Optimism Prevails as Executives Chart the Future
Aug 1, 2019

Strengthening Bank Relationships Is Crucial to Seize Business Opportunities in the Potential Economic Downturn
White Oak Healthcare Finance Provides $81 Million Credit Facility to GMF Capital
Aug 6, 2019

The funds were used to refinance a portfolio of 14 skilled nursing facilities concentrated in Ohio and Kentucky. As part of the transaction, White Oak also provided a $15.0 million line of credit to the operating company.
Citizens Commercial Banking leads new financing for Octo’s acquisition of Connexta
Aug 5, 2019

Citizens Commercial Banking led new financing for Octo, a Reston, Va.-based provider of next-generation solutions for the federal market, that was used to acquire Connexta, a Phoenix, Ariz.-based leader in open source software development and secure discovery solutions for government and commercial customers.
AloStar Capital Finance Provides $30 Million Credit Facility to BlackRiver Business Capital
Aug 1, 2019

AloStar Capital Finance successfully agented and closed a $30 million credit facility to BlackRiver Business Capital (doing business as ACG Equipment Finance), an equipment finance company focused on the small-to-mid-ticket market from $10,000-$250,000.

CIT Names David Harnisch President of Commercial Finance as Jim Hudak Retires

CIT Group Inc. (NYSE: CIT) today announced that David Harnisch will join the company as president of Commercial Finance, effective Sept. 23, 2019. Harnisch will succeed the current president of Commercial Finance Jim Hudak who has elected to retire following a 20-year career at CIT, effective Sept. 3, 2019.
Fifth Third Bank Announces Leadership for San Francisco Expansion Strategy

Fifth Third Bancorp (Nasdaq: FITB) announced today that Peter Gruebele has joined Fifth Third as senior vice president and San Francisco market executive. In this role, he will report to Joseph Yurosek, California market president for Fifth Third Bank.
PNC Bank Provides Financing to Nursery Supplier

PNC Bank, National Association, announced today the closing of an $18.5 million senior secured credit facility for Sandusky, Ohio-based August Corso Sons, Inc. (Corso). PNC Bank, N.A., served as administrative agent.
Wells Fargo Unveils Commercial Banking Leadership in the Northeast

Wells Fargo (NYSE: WFC) today announced its Commercial Banking leadership team for the Northeast, which includes leaders serving businesses in New England, Western New York, and Eastern Canada. The new leadership team stems from the bank’s recently announced structure for its Commercial Banking business.
Capital One Signs Agreement to Acquire KippsDeSanto & Co.

Capital One has entered into an agreement to acquire KippsDeSanto & Co. a leading investment banking firm focused on serving growth-oriented aerospace/defense, government services and technology companies. Based in Tysons Corner, Va. in the Washington, DC region, KippsDeSanto has a national practice specializing in merger and acquisition advisory services.
Three Ways to Improve Your Risk Performance Through Data Technology
Aug 19, 2019

By embracing technology, you can collect, analyze and respond quickly to easily accessible data that helps you accomplish three things simultaneously: mitigate risk, improve efficiency, and develop your organization’s talent.
Avenue Enters Voluntary Reorganization Proceeding to Facilitate Restructuring

Pursues going concern sale of its strong e-commerce business while conducting store closing sales at all ‘brick and mortar’ locations. Company obtains debtor-in-possession financing to support an orderly process.
Cars Aren’t Dead: They’re Just Morphing into What Comes Next

If, indeed, the traditional car as we have known it is “dead”, and its current successors are likely to be short-lived placeholders for what is to come… to understand what’s next and how it will impact the asset-based valuations we perform in the automotive industry, it is necessary to first understand how we got here.
CIT to Acquire Mutual of Omaha Bank

Enhances and diversifies CIT’s funding profile with Mutual of Omaha Bank’s market-leading homeowners association banking business, a source of scalable lower-cost deposits. Extends middle market commercial banking capabilities with expanded products, technology solutions and geographic footprint, Advances strategic plan and accelerates shareholder value creation.
Interview with Bruce Sprenger: Former SFNet Chairman Retires from Fifth Third after 40 Years in the Industry
Aug 13, 2019

Bruce Sprenger retired from his position as SVP Group Head for Fifth Third Business Capital at the end of June, after 40 years in the industry. Here, he looks back on his career.
Siena Lending Group LLC Announces the Closing of a $14.6 Million Credit Facility for Innovative Hearth Products
Aug 14, 2019

Siena Lending Group LLC (“Siena”) announces the completion of a $14.6 million asset-based revolving line of credit and term loan for Innovative Hearth Products (“IHP”). The facility was used to refinance certain debt and to provide additional working capital to support IHP’s long-term growth initiatives.
Colleen Taylor to Lead Wells Fargo Merchant Services
Aug 12, 2019

Wells Fargo & Company (NYSE: WFC) today announced that Colleen Taylor will join Wells Fargo as head of Wells Fargo Merchant Services, responsible for the strategic direction and management of the merchant services business and a joint venture with Fiserv. She will report to Danny Peltz, head of Treasury, Merchant and Payment Solutions.
Troubled Farms Navigate Options
Aug 12, 2019

Today, the U.S. farm sector is in crisis and, by many accounts, the full scale and scope of that crisis is something this nation has not seen since the Farm Crisis of the 1980s, when a confluence of micro and macroeconomic factors led to the failure of thousands of farms. Today, the challenges are both varied and formidable.
Wells Fargo Leads $825 Million in Financing for the Acquisition of Barnes & Noble
Aug 8, 2019

Wells Fargo Capital Finance, part of Wells Fargo & Company (NYSE:WFC), announced today that it acted as administrative agent, lead arranger and book runner for an $825 million asset-based credit facility in connection with the acquisition of Barnes & Noble, Inc. (NYSE:BKS) by Elliott Advisors (UK) Limited.
Secured Finance Foundation – Where We Were and Where We’re Going

The Secured Finance Foundation, a 501c3 organization, has been busy this past year rolling out new programs that benefit our industry. Some of the important initiatives from 2019 include commissioning and delivering a groundbreaking Market Sizing & Impact Study, with assistance from Ernst and Young, LLP, which is free to our members and donors..
MidCap Financial Provides a $60 Million Senior Secured Credit Facility to Celadon Group, Inc.
Aug 6, 2019

MidCap Financial today announced it has provided a $60 million senior revolving credit facility to Celadon Group, Inc. ("Celadon"), a North American transportation company that provides full-truckload freight services across the United States, Canada, and Mexico.
Guarded Optimism Prevails as Executives Chart the Future
Aug 1, 2019

Strengthening Bank Relationships Is Crucial to Seize Business Opportunities in the Potential Economic Downturn
White Oak Healthcare Finance Provides $81 Million Credit Facility to GMF Capital
Aug 6, 2019

The funds were used to refinance a portfolio of 14 skilled nursing facilities concentrated in Ohio and Kentucky. As part of the transaction, White Oak also provided a $15.0 million line of credit to the operating company.
Citizens Commercial Banking leads new financing for Octo’s acquisition of Connexta
Aug 5, 2019

Citizens Commercial Banking led new financing for Octo, a Reston, Va.-based provider of next-generation solutions for the federal market, that was used to acquire Connexta, a Phoenix, Ariz.-based leader in open source software development and secure discovery solutions for government and commercial customers.
AloStar Capital Finance Provides $30 Million Credit Facility to BlackRiver Business Capital
Aug 1, 2019

AloStar Capital Finance successfully agented and closed a $30 million credit facility to BlackRiver Business Capital (doing business as ACG Equipment Finance), an equipment finance company focused on the small-to-mid-ticket market from $10,000-$250,000.

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