Wells Fargo Expands Middle Market Banking to El Paso

Vanessa Barreda-Ramirez was tapped to launch Wells Fargo’s new El Paso office serving West Texas middle-market companies.

Gerber Launches San Diego Office

Gerber Finance expanded to the West Coast with the opening of its San Diego office. Industry veterans Rachel Donaghy and Lorraine Julius both joined the new office as vice president and senior relationship manager respectively.

AlixPartners Predict Retail Distress Will Continue in 2018

AlixPartners conducted its annual survey of restructuring professionals, with the results predicting continued distress in retail and more activity in the healthcare, restaurant and power industries. Tax reform, the survey said, is a wash.

Union Bank Names Rountree SVP/Head of Digital Strategy

Union Bank & Trust named former Wells Fargo VP Sara O. Rountree senior vice president and head of digital strategy. She will report directly to John G. Stallings, Union Bank & Trust president.

Regions Beats Estimate Despite Tax Act Charge

Regions Financial announced Q4 and full year 2017 earnings of $318 million and $1.193 million, respectively, were up from $278 million and $1.094 million in 2016, despite a tax reform charge of $29 million.

SunTrust Earnings Benefit from Tax Reform

SunTrust’s reported Q4/17 net income of $710 million was up from $448 million for the same quarter in 2016. The bank’s noted results included a $172 million after-tax net benefit from tax reform-related items.

SunTrust CIO Cherivyan Retires, Case to Succeed

Anil Cheriyan will retire as chief information officer of SunTrust Banks, effective March 31, 2018. Scott Case has been named his successor.

JPMorgan Upsizes NetScout Revolver to $1B

NetScout amended its credit agreement, with JPMorgan as administrative agent, to increase its senior secured revolver to $1 billion.

Investa Provides $15MM Facility for Core Gold

Core Gold closed a $15 million debt facility with Investa Bank and arranged a short term $1.6 million bridge loan with Credipresto.

Sallyport Provides $5MM Facilty for Fashion Accessories Firm

Sallyport Commercial Finance provided a $5 million combined credit facility that includes an AR line, purchase order financing and an inventory advance for a fashion accessories company.