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345% growth in second year highlights groups’ success with middle-market clients
PITTSBURGH–(BUSINESS WIRE)–TriState Capital Bank was named to the inaugural Monitor 101+ list for its fast-growing Equipment Finance division. The bank’s 345% year-over-year percentage gain — the third-highest recorded of the Monitor 101+ companies — landed TriState No. 15 on the list.
In just its second year, TriState’s Equipment Finance grew its assets from $18.1 million in 2018 to $62.5 million in 2019. Starting the equipment finance group from scratch, senior vice president 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.
“Through helping develop and grow our equipment finance business, Tim is integral to our company’s focus on supporting middle-market companies with high-performing talent and agile and essential products,” said TriState Capital Bank’s president and CEO Brian Fetterolf. “We are grateful to have his experience, expertise and vision for finding solutions for clients and prospects in a dynamic market.”
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 northern New Jersey. TriState partners with clients for the ongoing acquisitions of essential-use equipment. The equipment finance group complements TriState’s direct-to-market model with larger syndication opportunities through its cultivated group of bank partners.
“The bank’s support and trust have empowered TriState Capital Equipment Finance to develop a precise credit and operations model that’s attractive to both bank clients and nonbank customers,” said TriState Capital Bank’s senior vice president of equipment finance Tim Moriarity. “We’ve combined our knowledge and skill to become an equipment finance leader.”
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 $9.41 billion in assets as of September 30, 2020, 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 $9.65 billion in assets under management as of September 30, 2020, and serves institutional clients and TriState Capital’s financial intermediary network. For more information, please visit http://investors.tristatecapitalbank.com.
Jeff Schoenborn and Kate Croft
Source: TriState Capital Holdings, Inc.
Source: TriState Capital Holdings, Inc.