More banks diversify with equipment-lease operations

10/11/2013 | ABA Banking Journal online

Banks are increasingly getting into equipment-lease finance to increase revenue and add diversity to their credit portfolios. Some banks work directly with lessee companies, some work with vendors or dealers and some buy lease portfolios. Talmer Bancorp and Pacific Trust Bank are among the relative newcomers to the business. "Statistics say that 80% of commercial companies lease something, so if your bank doesn't have a leasing company, that means your commercial customers are getting leasing from somebody else," said Marc Parise, division manager for the specialty lending and leasing group at First Midwest Bank.

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