Regional bank shares plunge on fear of more rescues to come
PacWest Bancorp and Western Alliance Bancorp led a deep selloff in regional lenders Tuesday, as renewed fears over the health of the financial system hit Wall Street after the second-largest US bank failure ever. Trading in both firms triggered multiple volatility halts
Equipment finance industry confidence declines again in April
Confidence in the equipment finance industry declined for the second consecutive month amid inflationary pressures and a slowdown in business activity. The Monthly Confidence Index for the equipment finance industry landed at 47 in April, down from 50.3 in March and
Huntington, Volvo Financial commercial outstandings rise as equipment market normalizes
Commercial financiers Huntington Bank and Volvo Financial Services’ commercial and industrial books grew in the first quarter as the equipment market normalizes. Huntington Bank’s commercial and institutional loan outstandings landed at $47 billion in Q1, up 4.3% quarter over quarter and
3 best practices for navigating rising interest rates
As interest rates continue to rise and cash flows tighten, equipment dealers must find the best ways to navigate today’s hawkish interest rate environment to ensure access to funds. Equipment dealers of all sizes must manage rising interest rates to meet
Equipment finance industry confidence declines in March
Confidence in the equipment finance industry declined slightly in March following three months of growing confidence as recession and inflation woes continue. The Monthly Confidence Index for the Equipment Finance Industry landed at 50.3 for March, down from 51.8 in February
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
Arvest Bank rolls out equipment lending product
Arvest Bank launched an equipment finance lending product on cloud-native core banking platform Thought Machine. The $26 billion bank decided to run the product on a cloud-based core to keep up with ever-changing segments — including the $1 trillion-and-growing equipment finance market, Laura
