Cambridge Savings Bank appointed Michael Richardson to the role of vice president and relationship manager on is asset-based lending team. Prior to this new role, Richardson served as portfolio manager for ABL at Eastern Bank for nearly six years.
Cambridge Savings Bank and its asset-based lending team provided a credit facility to Bigbelly Solar, a provider of waste solutions for public spaces.
Blue Hills Bank closed a new senior credit facility with Magnus Textile, a Chelmsford, MA-headquartered importer and distributor of specialized textile products.
Blue Hills Bank’s ABL team closed a senior credit facility with Marshall Pierce, a Chicago-based retailer of fine timepieces and jewelry.
When Blue Hills Bank, a 140-year old community bank, decided to start an ABL division, it offered veteran ABL lenders Keith Broyles and Yvonne Kizner the opportunity to build the new division from scratch. The pair jumped at the chance. They spoke with ABF Journal Editor Nadine Bonner and shared their optimism and excitement about this new venture.
Buffalo Business First reported that the asset-based lending unit of First Niagara Financial Group hired Keith Broyles as national new business director. Broyles was previously with Sovereign Bank in Boston.