TriState Capital Bank Named Again to Monitor 101+ List for Fast-Growing Equipment Finance
October 08 2021 - 5:11PM
Business Wire
157% YOY growth in division’s third year
highlights groups' success with middle-market clients and
syndication partners
For the second year in a row, TriState Capital Bank was named to
the Monitor 101+ list for the bank's fast-growing Equipment Finance
division. The bank's 157% year-over-year total assets gained landed
TriState Capital position No. 107 on the list, improving its No.
115 position on Monitor's inaugural list last year.
In just its third year, TriState's Equipment Finance grew its
assets from $62.5 million in 2019 to $157.5 million in 2020. In a
two-year snapshot, the division has grown assets from $18.1 million
in 2018.
Starting the equipment finance group from scratch, Senior Vice
President of Equipment Finance and Manager Tim Moriarity and his
team have a niche target: middle-market companies and deals focused
on the ongoing acquisition of essential use equipment, primarily in
the transportation, manufacturing and construction sectors. The
Equipment Finance division has grown to seven people, and it
recorded $104.4 million in new business in 2020.
"Our equipment finance business growth is thanks to our
dedicated team providing direct equipment leasing and finance
products to middle-market companies within each TriState Capital
region," says TriState Capital Bank President and CEO Brian
Fetterolf. "We complement our direct-to-market model with larger
syndication opportunities through our cultivated group of bank
partners."
TriState Capital Equipment Finance provides equipment leasing
and financing solutions directly to middle-market companies within
its regional footprint of Pittsburgh, Philadelphia, New York City,
Cleveland and North Jersey. TriState Capital partners with clients
on the ongoing acquisitions of essential-use equipment.
"Over the past three years, TriState Capital's Equipment Finance
team has continued to provide clients with an array of tailored
financing options for any capital equipment needs they have," says
Moriarity. "With our team's experience and the bank's support,
we're a leader in the equipment finance space for companies across
various industries."
The Monitor 101+ is published by Monitordaily, a leading
publication in the equipment finance industry. The list is an
extension of the Monitor 100, an annual report of the largest
equipment finance and leasing companies in the United States. More
information about the Monitor 101+ is available at
Magazine.MonitorDaily.com.
ABOUT TRISTATE CAPITAL TriState Capital Holdings, Inc.
(Nasdaq: TSC) is a bank holding company headquartered in
Pittsburgh, PA, providing commercial banking, private banking and
investment management services to middle-market companies,
institutional clients and high-net-worth individuals. Its TriState
Capital Bank subsidiary had $11.46 billion in assets as of June 30,
2021, and serves middle-market commercial customers through
regional representative offices in Pittsburgh, Philadelphia,
Cleveland, Edison, N.J., and New York City, as well as
high-net-worth individuals nationwide through its national referral
network of financial intermediaries. Its Chartwell Investment
Partners subsidiary had $11.51 billion in assets under management
as of June 30, 2021, and serves institutional clients and TriState
Capital’s financial intermediary network. For more information,
please visit http://investors.tristatecapitalbank.com.
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MEDIA CONTACT Jack Horner Hornercom 267-932-8760, ext.
302 412-600-2295 (mobile) jack@hornercom.com
INVESTOR CONTACTS Jeff Schoenborn and Kate Croft Casteel
Schoenborn 888-609-8351 TSC@csirfirm.com
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