TriState Capital Financial institution re-named to supervise 101+ checklist for quickly rising gear finance
PITTSBURGH – (BUSINESS WIRE) – For the second year in a row, TriState Capital Bank was added to the Monitor 101+ list for the bank’s rapidly growing Equipment Finance division. The 157% of the bank’s total assets year-over-year brought TriState Capital to number 107 on the list, improving its position to number 115 on Monitor’s opening list last year.
For only its third year, TriState’s Equipment Finance has grown its assets from $ 62.5 million in 2019 to $ 157.5 million in 2020. In a two-year snapshot, the division increased assets from $ 18.1 million in 2018.
The Senior Vice President of Equipment Finance and Manager Tim Moriarity and his team are founding the Equipment Finance Group from scratch and are pursuing a niche goal with his team: medium-sized companies and deals that focus on the ongoing acquisition of equipment for daily use, mainly in the transportation, manufacturing and construction sectors. The Equipment Finance division has grown to seven employees and recorded new business of $ 104.4 million in 2020.
“Our growth in equipment finance is thanks to our dedicated team, providing direct equipment leasing and financing products to mid-market companies in every TriState Capital region,” said Brian Fetterolf, President and CEO of TriState Capital Bank. “We are supplementing our direct-to-market model with greater syndication options through our cultivated group of banking partners.”
TriState Capital Equipment Finance offers medium-sized companies direct equipment leasing and financing solutions through its regional presence in Pittsburgh, Philadelphia, New York City, Cleveland and North Jersey. TriState Capital works with clients on the ongoing purchase of essential-use equipment.
“For the past three years, TriState Capital’s Equipment Finance team has continued to offer clients a range of tailored financing options for any capital equipment need,” says Moriarity. “With the experience of our team and the support of the bank, we are leaders in equipment finance for companies in a variety of industries.”
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 from the largest equipment finance and leasing companies in the United States. For more information on Monitor 101+, visit 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 medium-sized companies, institutional clients and high net worth individuals. Its subsidiary, TriState Capital Bank, had assets of 11.46 billion valuable individuals across the country as of June 30, 2021 through its national referral network of financial intermediaries. Its subsidiary Chartwell Investment Partners had assets under management of $ 11.51 billion as of June 30, 2021, serving institutional clients and TriState Capital’s network of financial intermediaries. More information is available at http://investors.tristatecapitalbank.com.