WILMINGTON, Del.--(BUSINESS WIRE)--
The Bancorp (NASDAQ: TBBK) has announced the acquisition of the
commercial leasing assets of Ellis Brooks Leasing, Inc., an independent
commercial and fleet leasing company located in San Francisco, CA. This
transaction will expand The Bancorp’s Commercial Fleet Leasing presence
on the West Coast, adding a California office to The Bancorp’s existing
office in Kent, WA.
An expanded West Coast presence will give The Bancorp, one of the few
bank-owned leasing groups in the nation, a greater geographic area in
which to provide lessees with direct access to the funding source as
well as to an experienced team of leasing specialists. An office in San
Francisco gives The Bancorp opportunities to offer fully customized
leasing solutions for California municipalities and state agencies, as
well as for small and mid-size businesses in the state.
Heading the expansion will be Jeff Barron, the key member of the Ellis
Brooks Leasing team, who joins The Bancorp as VP, Regional Sales
Manager. According to Barron, “I look forward to growing The Bancorp’s
business in San Francisco - and in all of California - by leveraging the
existing resources of Ellis Brooks Leasing, with the support of The
Bancorp’s Commercial Fleet Leasing team.”
Barron, instrumental in the growth of Ellis Brooks Leasing (where he
served as President since 2000), brings more than 25 years of experience
in the vehicle leasing industry to The Bancorp. He has been a Director
and/or Officer of National Vehicle Leasing Association (NVLA) since 1991
and was awarded that organization’s prestigious Clemens-Pender Lifetime
Achievement Award in 2000.
Scott Megargee, who leads The Bancorp’s Commercial Fleet Leasing unit
and serves as the organization’s EVP, Chief Lending Officer, offered,
“We had been looking for the right opportunity to expand our West Coast
presence since establishing an office in Kent, WA. Acquiring the
commercial leasing assets of Ellis Brooks Leasing is a demonstration of
our commitment to working with small independent leasing companies
either to serve their lending overflow needs or to affect a win/win
acquisition.”
About The Bancorp
With operations in the US and Europe, The Bancorp, Inc. (NASDAQ: TBBK)
is dedicated to serving the unique needs of non-bank financial service
companies, ranging from entrepreneurial start-ups to those on the
Fortune 500. The Bancorp Bank, one of its financial institutions, has
been repeatedly recognized in the payments industry as the Top Issuer of
Prepaid Cards (US), a top merchant sponsor bank, and a top ACH
originator. Specialized lending distinctions include National Preferred
SBA Lender, a leading provider of securities-backed lines of credit, and
one of the few bank-owned commercial leasing groups in the nation. thebancorp.com
View source version on businesswire.com: http://www.businesswire.com/news/home/20151207006432/en/
The Bancorp
Andres Viroslav, 215-861-7990
aviroslav@thebancorp.com
Source: The Bancorp, Inc.