TriState Capital Bank Named a Leading Equipment Finance Company by Monitor for 5th Consecutive Year
2024年7月23日 - 12:05AM
ビジネスワイヤ(英語)
$221 million in new business led to 59.1% YOY
growth with middle market clients
For the fifth consecutive year, TriState Capital Bank was
recognized by Monitor as one of the top-performing equipment
finance companies in the United States. The bank’s 59.1%
year-over-year gain in total assets in 2023 landed TriState Capital
at No. 84 on the 2024 Monitor 100, up 10 spots from last year.
In 2023, its sixth year, TriState Capital’s Equipment Finance
division grew its assets to $551.2 million from $346.5 million in
2022. The bank’s 59.1% gain was the list’s fifth-largest
increase.
Tim Moriarity, executive vice president and manager of the
equipment group, credits the success to building strong
relationships based on personalized service. The team added $221.1
million in new business last year.
“Our team continues to have the experience and flexibility to
meet our customers’ needs with impactful equipment financing
solutions,” said Moriarity, who built the specialized equipment
finance business from the bank’s general commercial lending
business in 2018. “Despite rising rates and tighter margins, we
persist in helping clients maximize efficiencies by financing
essential-use equipment under a variety of competitive leasing and
loan structures.”
The Equipment Finance division’s continued growth includes the
Northeast and Midwest, with a focus on the Chicago area, as well as
additional expansion and support in its regional footprint of
Pittsburgh, Philadelphia, New York City, Cleveland and North
Jersey.
Companies and deals are centered on the ongoing acquisition of
essential-use equipment, primarily in the transportation,
manufacturing and construction sectors. Since its inaugural year,
the division has rapidly grown its assets from $18.1 million in
2018 to $551 million in 2023.
“Our success of building our business is based on providing
middle market companies with highly effective equipment financing
solutions to meaningfully help them grow their businesses,” said
TriState Capital Bank President and CEO Brian Fetterolf. “Every
year since inception, we’ve seen year-over-year success — a
testament to Tim’s expertise and leadership combined with the
capability and dedication of our team since we established this
strategy six years ago.”
The Monitor 100 is published by MonitorDaily, a leading
publication in the equipment finance industry. The list is an
annual report of the largest equipment finance and leasing
companies in the United States. More information about the Monitor
100 is available at monitor100.monitordaily.com.
ABOUT TRISTATE CAPITAL TriState Capital Bank is
headquartered in Pittsburgh, Pennsylvania, and provides commercial
banking, private banking and treasury management services to
middle-market companies, institutional clients and high-net-worth
individuals. TriState Capital Bank serves middle-market commercial
customers through regional representative offices in Pittsburgh;
Philadelphia; Cleveland; Edison, New Jersey; and New York City, as
well as high-net-worth individuals nationwide through its national
referral network of financial intermediaries. TriState Capital Bank
is a wholly owned subsidiary of Raymond James Financial, Inc.
(NYSE: RJF), a leading diversified financial services company
providing private client group, capital markets, asset management,
banking and other services to individuals, corporations and
municipalities. TriState Capital Bank is a Pennsylvania chartered
bank.
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MEDIA CONTACT Jack Horner Hornercom 412-600-2295
jack@hornercom.com