PITTSBURGH – (COMMERCIAL THREAD) – For the second year in a row, TriState Capital Bank has been named to the Monitor 101+ list for the bank’s rapidly growing equipment finance division. The bank’s total 157% year-over-year assets earned TriState Capital to the 107th place on the list, improving its position from 115th on Monitor’s inaugural list last year.
In its third year alone, TriState’s Equipment Finance increased its assets from $ 62.5 million in 2019 to $ 157.5 million in 2020. In a two-year snapshot, the division increased its assets by 18 , $ 1 million in 2018.
Starting the Equipment Finance group from scratch, Senior Vice President, Equipment Finance and Director Tim Moriarity and his team have a niche target: mid-market companies and acquisition-driven transactions. continues to essential-use equipment, primarily in transportation, manufacturing and construction. sectors. The Equipment Finance division grew to seven people and recorded $ 104.4 million in new business in 2020.
“The growth of our equipment finance business is driven by our dedicated team which provides direct equipment leasing and financing products to mid-market companies in every region of TriState Capital, “said Brian Fetterolf, President and CEO of TriState Capital Bank.We complement our direct marketing model with broader syndication opportunities through our cultured group of banking partners. ”
TriState Capital Equipment Finance provides equipment leasing and financing solutions directly to mid-market companies in its regional footprint of Pittsburgh, Philadelphia, New York, Cleveland and North Jersey. TriState Capital partners with its clients for the ongoing acquisition of essential-use equipment.
“Over the past three years, TriState Capital’s equipment finance team has continued to provide clients with a range of bespoke financing options for all of their capital equipment needs, ”said Moriarity. “Thanks to the experience of our team and the support of the bank, we are a leader in the field of equipment financing for companies in various sectors. ”
The Monitor 101+ is published by Monitordaily, a leading publication in the equipment finance industry. The list is an extension of Monitor 100, an annual report of the largest equipment finance and leasing companies in the United States. More information on Monitor 101+ is available at Magazine.MonitorDaily.com.
ABOUT TRISTATE CAPITAL
TriState Capital Holdings, Inc. (Nasdaq: TSC) is a banking holding company headquartered in Pittsburgh, Pa. That provides commercial banking, private banking and investment management services to mid-market companies, clients institutions and high net worth individuals. Its subsidiary TriState Capital Bank had $ 11.46 billion in assets as of June 30, 2021 and serves mid-market business clients through regional representative offices in Pittsburgh, Philadelphia, Cleveland, Edison, NJ and New York, as well as high-net-individual value on a national scale thanks to its national reference network of financial intermediaries. Its subsidiary Chartwell Investment Partners had $ 11.51 billion in assets under management as of June 30, 2021 and serves institutional clients and TriState Capital’s network of financial intermediaries. For more information, please visit http://investors.tristatecapitalbank.com.