Daily News: June 2, 2014

RBS Citizens Leads Firestone Financial Revolver

Firestone Financial announced it increased its credit facility.

Firestone Financial also signed a $225 million, multi-year revolving credit facility at the end of last year; this is an increase from the prior facility of $125 million.

Firestone Financial bank group is led by RBS Citizens and the lenders include Wells Fargo Bank National Association, Bank of America, People’s United Bank, Rockland Trust Company, TD Bank, Brookline Bank, Berkshire Bank and Webster Bank.

The company also announced its move to a new office location. Firestone Financial has 49 employees and $188M of assets under management. The company recently relocated its headquarters to 117 Kendrick Street in Needham, MA. The new office space will allow Firestone Financial to double its size to accommodate the growth of the company.

Firestone Financial president and CEO David Cohen said, “Over the past few years we have grown very rapidly and our new office and credit facility will provide us with the tools we need to accommodate our continued growth. We are extremely optimistic about the future of our business and the industries we serve.”