Investors Bank’s Healthcare Lending Group has hired James Andrew “Andy” Phelps for the newly created position of senior vice president.
Investors Bancorp appointed Paul Kalamaras executive vice president and chief risk officer of both the holding company and Investors Bank. Bill Brown will take over Kalamas’ former role of chief retail banking officer.
Investors Bank’s Asset-Based lending group recently originated revolving credit facility with two middle-market companies located in New York.
Investors Bank Asset-Based Lending Group closed a $6.5 million loan facility to Ice Air, a developer, importer, distributor and wholesaler of HVAC units.
Investors Bank said its C&I and Asset-Based lending groups structured a loan that combined a $15 million revolver and a $3.5 million mortgage for a NY-based toy maker’s office and warehouse facility.
Investors Bank jumped into asset-based lending late last year as part of a strategy to diversify its lending products. The group’s new executive team provides insights into how they intend to keep the customer at the center of the process by offering complete depository services plus robust ABL products, encompassing revolvers, term loans and equipment finance.