SOURCE: TAB Bank

TAB Bank

September 04, 2012 15:30 ET

TAB Bank Announces Expansion of Equipment Leasing Division

OGDEN, UT--(Marketwire - Sep 4, 2012) - As TAB Bank continues to expand its Equipment Leasing Division to provide commercial equipment leasing solutions to companies throughout the United States, it is pleased to announce the additions of Mark Carpenter, Eric Sheehan, and Nathan Farnsworth to the credit and underwriting team of the division. All three come to TAB Bank from Republic Bank of Bountiful, Utah where they were instrumental in managing and monitoring the growth and performance of Republic's equipment leasing portfolio. They bring to TAB Bank several key relationships within the commercial finance and equipment leasing industries. In their new roles with TAB, they will be responsible for the development and underwriting of new commercial equipment leasing transactions.

Mark Carpenter is a proven senior financial manager with over 20 years of commercial lending and equipment leasing experience. Prior to joining TAB, Mark was the Chief Credit Officer and a Senior Vice President at Republic Bank. While at Republic, he managed and grew relationships from 8 to 15 banks and commercial leasing firms selling transactions to the bank. These expanded relationships led to portfolio growth of 48% from 2008 to 2012. Mark also spent a large portion of his career with Wells Fargo Equipment Finance as Vice President and Credit Manager. During this time, Mark developed and managed marketing relationships with Wells Fargo Business Banking hubs in Boise, Idaho; San Jose, California; and San Antonio, Texas.

Eric Sheehan is a seasoned commercial finance professional who also comes to TAB Bank with over 20 years of experience in the industry of commercial credit and finance. He has specialized in the development, implementation, and oversight of credit policies and procedures during his career. He has served as a Credit and Underwriting Manager for several financial institutions including American West Bank and Citigroup. While at Republic Bank, Eric provided underwriting and financial analysis of all lease transactions and negotiated lease rates, terms, and covenants for each approved transaction.

Nathan Farnsworth joins TAB Bank after successful career stops with SVB Financial Group, Nevada State Bank, and most recently, Republic Bank. He has gained extensive credit, underwriting, financial analysis, collateral evaluation, account management, and deal structuring experience in his previous positions. During his time at Republic Bank, Nathan assisted in managing a portfolio consisting of various commercial leases and loans to hospitals, skilled nursing facilities, senior living centers, and medical equipment manufacturers.

"We are very excited with the additions of Mark, Eric, and Nathan to our growing Equipment Leasing Division. All three come to TAB with a wealth of industry knowledge and expertise. They each have a proven track record of successfully seeing a commercial equipment transaction from start to finish. They also bring with them an impressive network of relationships within the industry. They have successfully nurtured these relationships through their dedication, hard work, and integrity. We are very much looking forward to the outstanding work and contributions each of them will bring to TAB Bank on a consistent basis," commented Gary Harding, Chief Credit Officer of TAB Bank.

TAB Bank (@TABBank) has assets in excess of $800 million through a variety of financial products. In addition to commercial equipment leasing, these products include: accounts receivable financing, asset-based lending, lines of credit, equipment loans, business accounts, and commercial banking services. TAB Bank provides working capital solutions to small- and medium-sized commercial businesses across a wide range of industries. TAB provides these solutions in all stages of a company's business life cycle no matter the economic climate.

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