TriState Capital Bank Named to Monitor 100 as a Leading Equipment Finance Company
September 06 2022 - 11:58AM
Business Wire
Client relationships leads to 51.8% YOY growth
with middle market clients; expansion continues into Midwest
TriState Capital Bank’s fast-growing Equipment Finance division
was named to the Monitor 100 as one of the top U.S. equipment
finance companies. The bank’s 51.8% year-over-year total assets
gained in 2021 landed TriState Capital at No. 95, a jump from No.
107 on last year’s Monitor 101+ list.
In just its fourth year, TriState Capital’s Equipment Finance
grew its assets to $239.1 million in 2021 from $157.5 million in
2020. Tim Moriarity, executive vice president and manager of the
equipment group, credits the success to building upon new and
existing client relationships as well as a strong back-office
team.
“We continue to provide value and to punch above our weight for
the clients in the industries we deal with,” said Moriarity, who
built the equipment finance group from scratch in 2018. “Our team
continues to keep clients happy by managing expectations and
finding solutions during these competitive and uncertain
times.”
In addition to providing equipment leasing and financing
solutions to middle market companies in its regional footprint of
Pittsburgh, Philadelphia, New York City, Cleveland and North
Jersey, the Equipment Finance division continues to expand into
additional markets. Earlier this year, TriState Capital announced
that vice president, relationship manager Tom Prendergast is
developing new business and market growth in the Midwest with a
focus on the Chicago area.
Companies and deals are centered on the ongoing acquisition of
essential use equipment, primarily in the transportation,
manufacturing and construction sectors. The division has grown its
assets from $62.5 million in 2019, which was an increase from $18.1
million in its inaugural year, 2018.
“Our goal of growing our brand in equipment finance is fueled by
our desire to provide meaningful financing solutions for meaningful
clients,” said TriState Capital Bank President and CEO Brian
Fetterolf. “The internal cohesion created by Tim’s leadership
empowered the team to strengthen our direct business volume over
the past year even as the economy slowly emerged from the pandemic
and capital equipment was scarce.”
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.
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