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Synovus Financial (SNV) in Columbus, Ga., has formed an equipment-finance division. The group will be based in Charleston, S.C., the $26 billion-asset Synovus said Thursday.
October 10 -
Smaller banks have historically shied away from equipment finance because it requires a lot of expertise that typically has an up-front cost. But a desire to book assets at higher yields has made the business more attractive, industry experts say.
February 12
The chief operating officer of Marlin Business Services (MRLN) in Mt. Laurel, N.J., plans to resign.
George Pelose will step down during the first quarte, the $673 million-asset company said Wednesday. Pelose, 49, who joined Marlin in 1999 as its general counsel, is leaving to pursue other interests, the company said.
Marlin plans to reorganize its management team to handle the COO's duties. Edward Dietz, Marlin's general counsel, will take on the additional role of vice president of administration, with responsibility for reporting on business operations, asset recovery, human resources and insurance divisions. Chief Executive Daniel Dyer will oversee reporting responsibility for credit underwriting and portfolio management.
Pelose "has led the company through change and was instrumental in shaping Marlin and successfully growing the company," Dyer said in a press release.
Marlin also announced that its third-quarter earnings rose 37% from a year earlier, to $4.7 million, as its assets increased by 16%.
In September, Marlin
