Today’s News

    Cecere to Succeed Davis as U.S. Bancorp CEO

    Andy Cecere, currently president and chief operating officer, will succeed Richard Davis as CEO of U.S. Bancorp on April 18, 2017, the date of the bank’s annual meeting of shareholders.

    Antares, Deutsche Support Worldwide Express/Unishippers Merger

    Ridgemont Equity Partners acquired Worldwide Express from affiliates of Quad-C Management. Ridgemont will merge its portfolio company, Unishippers Global Logistics, with Worldwide Express to form a new entity called Worldwide Express Global Logistics.

    Quon Joins White Oak Originations Team

    White Oak Global Advisors added David C. Quon to the Originations team as managing director.

    Crestmark Closes 12 Transactions Totaling $7.3MM

    Crestmark secured a total of $7,310,542 in financial solutions for 12 new clients in the first half of January.

    BofA Merrill Lynch Supports KPS Fargo Buy

    KPS Capital Partners’ portfolio company, Electrical Components International, will acquire Fargo Assembly Company. Bank of America Merrill Lynch served as lead arranger for financing for the transaction.

    Abacus Finance Promotes Four

    Abacus Finance promoted Eric Peterson from VP to SVP, Radal Rydzesky from associate to senior associate, Joseph Lee from analyst to associate and Afsheen Ali from administrative officer to director of administration.

    Square 1 Bank Expands East Technology Banking Team

    Square 1 Bank, hired Kevin Johnson as managing director of the Mid-Atlantic region and Dhruv Patel as vice president on the Southeast banking team.

    Capital One Upsizes Newtek by $25MM

    Newtek Small Business Finance signed a letter of intent to increase its existing revolving credit facility through Capital One by $25 million to $75 million, as well as to reduce the borrowing rate.

    Cahill Elects Four New Partners

    Cahill Gordon & Reindel elected four new partners effective January 1, 2017: Brockton B. Bosson, Ariel Goldman, Sheila C. Ramesh and Sean P. Tonolli.

    Renasant and Metropolitan BancGroup to Merge

    Renasant Corporation, the parent company of Renasant Bank, and Metropolitan BancGroup, the parent company of Metropolitan Bank, have signed a definitive merger agreement.