BMO, BNP Paribas form cross-border partnership
BMO and BNP Paribas have formed a long-term commercial finance agreement that allows commercial clients from both banks to utilize the combined global services. The new, trans-Atlantic partnership began as a result of BMO’s purchase of Bank of the West from
PacWest, Western Alliance stocks continue to plummet
Regional equipment financiers PacWest and Western Alliance Bank continued to see their stock crater Monday as investors showed concern over banks. Several banking stocks declined Monday as part of the fallout from the closure of both Silicon Valley Bank and Signature
Signature Bank collapses, enters FDIC receivership
Signature Bank, the parent company of equipment financier Signature Financial, entered Federal Deposit Insurance Corp. receivership Sunday following the collapse of Silicon Valley Bank on Friday. Signature Bank was closed by the New York State Department of Financial Services on Sunday
Investors concerned about regional equipment financiers after SVB collapse
The run on Silicon Valley Bank on Thursday and its subsequent collapse Friday has sparked investor concern with regional banks offering equipment finance with high exposure to unrealized losses. Santa Monica, Calif.-based Silicon Valley Bank’s (SVB) collapse was the product of
Arvest Bank building new core
Arvest Bank is switching from its existing core to a new one built from scratch by a development team working closely with the bank. The $26 billion financial institution has been in the building phase for the past 10 months, adopting a
Agtonomy to integrate automation software in Bobcat equipment
Equipment manufacturer Bobcat is partnering with agricultural technology company Agtonomy to advance electrification, autonomous operation and digitalization in Bobcat’s agriculture equipment. “Bobcat wants to innovate in agriculture, and they’re doing that through a partnership with Agtonomy, where you bring together our
Trinity Capital’s equipment financing portfolio up 9.6% YoY
Trinity Capital grew its equipment financing portfolio in 2022 amid record commitments and deployments. Equipment financing investments totaled $29 million in the fourth quarter, down 35% quarter over quarter and 59.9% year over year, according to Equipment Finance News analysis of Trinity’s
Equipment finance executives evaluate importance of vetting financing partners
Equipment dealers must evaluate their vetting process for third-party financing partners to stop bad actors and prevent misinformation. Dealers who do not have a process for sales personnel to vet financing partners put themselves at risk, said RJ Grimshaw, president and
Digital channels key to securing equipment, work truck sales leads
Equipment and work truck dealers should leverage online sales channels to secure leads and widen the sales net as more consumers browse inventory and shop through digital avenues. Many equipment and work truck dealers post inventory on their websites but need
2 common roadblocks inhibit equipment sales, financing
Lender and consumer roadblocks are negatively impacting the financing process for equipment dealers. “One, the customer is declined by the primary lender, so we’ll take that as a workflow or a key question to evaluate,” Beckham Thomas, founder and chief executive