According to a report from Citizens Commercial Banking, real-time payments are continuing to emerge as the standard in U.S. billing and payment processing, with nine out of 10 business leaders reporting interest in the network.
Citizens Commercial Banking is serving as lead left arranger on a $150 million asset-based revolving credit facility for Steve Madden, a designer and marketer of footwear, accessories and apparel for women, men and children.
The Citizens Business Conditions Index showed stability in Q2/20, decreasing from 60.8 to 60.3 despite the quarter beginning with many businesses reeling from the shutdown of the global economy caused by the COVID-19 pandemic.
Citizens Commercial Banking acted as lead left arranger on a $150 million asset-based revolver for St. Ann, MO-based Moran Foods, the owner and operator of Save A Lot.
Citizens Commercial Banking led a new credit facility for Liberty Hall Capital Partners portfolio company Bromford Industries.
Citizens Commercial Banking provided a $138 million loan to Washington, D.C.-based DSC Partners for the acquisition of 28 office and industrial buildings in Montgomery County, MD.
Citizens Commercial Banking has hired Peter Wesemeier and Ben Los as managing directors, expanding the bank’s expertise in financial institution and insurance industry clients.
Citizens Commercial Banking has established a West Region headed by David Musicant and tapped Jim Malz to lead its Midwest Region.