SOUTHFIELD, Mich. - Franklin Bank said it had formed an equipment-leasing department to finance purchases of telephones, computers, and other manufactured goods.

The department is headed by Dennis Prestel, who has worked in commercial lending at Comerica Bank, Detroit, since 1978.

Franklin, which has $410 million in assets, said the leasing group would initially generate $20 million a month, complementing its business in the mid-size corporate market.

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