Enterprise Financial Services in Clayton, Mo., has acquired a $21 million loan portfolio as part of its formation of an aircraft financing unit.
The aircraft finance group will court private businesses, professionals and high-net-worth individuals, Scott Goodman, president of the company's Enterprise Bank & Trust unit, said in a press release. A number of community banks have recently
The $3.5 billion-asset holding company for Enterprise Bank & Trust acquired the portfolio of aircraft loans from Avtran, an aircraft financing company in Clayton. Enterprise also hired Avtran's owner, Barry Stone, to lead its new aviation group.
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Enterprise Financial Services in Clayton, Mo., has announced the retirement of its bank's executive chairman and chief credit officer.
January 6 -
Lenders have increasingly turned to niche businesses, such as equipment financing, to differentiate themselves from competitors. Some banks, like Bank of the Cascades in Oregon, are choosing complicated specialties like aircraft financing that may scare off potential rivals.
July 29 -
Bank of Hawaii in Honolulu is getting out of the aircraft leasing business.
September 30
Enterprise did not disclose financial terms for its loan portfolio acquisition.
Stone previously was the owner of Spirit Jet Center, a provider of ground-support services and aircraft sales at Spirit of St. Louis Airport.
