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Bankers usually salivate over a chance to grow loans and diversify beyond real estate. So why have only 36 banks signed on for BancAlliance, a co-op designed to give them a shot a bigger commercial loans?
January 11
A Chevy Chase, Md., asset management firm that helps small banks team up on large commercial loans has raised $150 million in new capital that it will use to expand its lending network.
Alliance Partners said Tuesday that investments came from both existing shareholders,
Alliance manages BancAlliance, a network it founded in late 2010 to help community banks find partners for loans that are generally too large for them to make on their own. As of Tuesday, BancAlliance had 56 banks in its network, ranging in size from $100 million to $10 billion of assets.
In a news release, Alliance Chief Executive Lee Sachs, a former assistant secretary of the U.S. Treasury, said that the additional capital will help BancAlliance better serve its clients. "These important investments and resources position us well to continue building the BancAlliance network by providing our members an even broader array of high-quality loans."
