Daily News: May 21, 2014

TAB Bank Completes Anchor Acquisition

TAB Bank announced it entered into an asset purchase and sale agreement to acquire the factoring portfolio and other related assets of Anchor Funding Services.

In addition to Anchor’s factoring portfolio of approximately 100 clients, the acquisition includes all portfolio related assets, names, trademarks, intellectual property, domains, and sales and marketing channels.

“This acquisition will allow TAB the opportunity to continue the high level of service and support they have come to expect from Anchor Funding Services while offering them the greater depth of products and services already available at TAB Bank,” stated Steve Sala, president and CEO of TAB Bank.

Anchor Funding Services is a financial service company serving the financing needs of small and mid-size businesses across the United States.