Investors Bank is launching an equipment finance group (EFG) that will enhance its commercial and industrial (C&I) lending capabilities with middle market companies. A seven-person team of equipment financing professionals, led by group leader Kenneth L. Walters, has joined the bank.
Walters and the EFG will report to Senior Vice President and head of C&I Lending Mark Noto. The team will be based at Investors Bank’s facilities in Iselin, NJ. Noto believes there will be numerous cross-selling synergies and opportunities between the EFG and the bank’s C&I lenders in the New York and New Jersey region and beyond. The expectation is that many of Investors’ existing business clients will take advantage of the bank’s expanded equipment financing and leasing capabilities.
In announcing the formation of the EFG, Investors Bank President and CEO Kevin Cummings said, “We welcome this exceptional capital equipment finance team to our C&I lending group. After reviewing its equipment financing operations, our executive team decided that Walters’ group is the perfect fit for us. They know the market, are based in New Jersey, serve clients nationwide, possess solid portfolio management skills, and complement our way of doing business.”
Lazard Freres served as financial advisor to Investors Bank in connection with its entry into the equipment finance business line.
Investors Bank, headquartered in Short Hills, NJ, is a full-service community bank with more than $25 billion in assets that has been serving customers since 1926.
