Investors Bank Sets Up Equipment Lending Division
Investors Bank, based in Short Hills, N.J., has launched an equipment finance group to provide financing and leasing services to trucking and other middle-market companies.
The group will be led by Ken Walters, who worked in a similar capacity at EverBank in Iselin, N.J.
Walters will direct a team of seven financial professionals in his new position at Investors Bank, a commercial banking firm with $25 billion in assets and 145 retail branches in the New York and New Jersey region.
“We welcome this exceptional capital equipment finance team to our lending group,” CEO Kevin Cummings said. “After reviewing its equipment financing operations, our executive team decided that Mr. Walters’ group is the perfect fit for us. They know the market, are based in New Jersey, serve clients nationwide, possess solid portfolio management skills and complement our way of doing business.”
A spokesman for EverBank, based in Jacksonville, Fla., said it will focus on vendor equipment financing while de-emphasizing other “noncore” product lines.
