Ethan Allen Announces Completion of Senior Note Redemption
 

PCS Wireless Receives $100 Million Debt Financing Commitment to Continue Accelerated Growth 

Goldman Lending Firm Raises $120 Million IPO

Crestmark secured a total of $10,095,000 in financial solutions for seven new clients in the first half of March.

• A $7,000,000 asset-based line of credit was provided on March 2 to a textile wholesaler in California. The financing will be used for working capital purposes.
• On March 3, a $750,000 traditional factoring facility was provided to a New York designer and manufacturer of men's and women's jeans.
• A $125,000 accounts receivable purchase facility was provided on March 4 to a freight broker in Texas. The financing will be used for working capital purposes.
• On March 4, a $400,000 accounts receivable purchase facility was provided to a trucking company in South Carolina. The financing will be used for working capital purposes.
• A $320,000 SBA term loan facility was provided on March 5 to an independent insurance agency in Nevada. The financing will be used to pay off a previous lender.
• On March 10, a $250,000 accounts receivable purchase facility was provided to a startup trucking company in Kentucky. The financing will be used for working capital purposes.
• A $1,250,000 accounts receivable purchase facility was provided on March 12 to a freight broker in Alabama. The financing will be used to pay off a previous lender and for working capital purposes. 

Capital One Multifamily Finance announced the appointment of Jim Ingersoll as vice president of originations for the Central Florida region. In this role, he will offer Capital One's clients access to Agency financing from Fannie Mae, Freddie Mac, and the FHA. Ingersoll will report to senior vice president Robert Nagel.

"Jim is a natural fit for our team; he brings a wealth of experience, strong relationships and a track record of success in this critical market," Nagel said. "His industry expertise and deep knowledge of the Central Florida market's needs fits perfectly with our commitment to providing a personalized client experience to our multifamily customers."

"I am excited to join the Capital One Bank team at a time of growth and investment in the Bank's multifamily lending business," Ingersoll said. "I look forward to joining this high-performing team and providing the tailored financial solutions that Capital One's clients need." 

Ingersoll joins Capital One from Fifth Third Bank, where he held a number of roles, including Special Asset Portfolio Manager for the bank's commercial real estate division in Orlando. He previously served as a Senior Commercial Real Estate Analyst for Commercial Mortgage Capital, also in Orlando.

Ingersoll holds a B.S. degree in finance from the University of Central Florida. 

Citizens Bank announced that Patrick Moody has been hired as a director and senior business capital originator for Citizens Commercial Banking.      

Moody was a managing director for SunTrust Robinson Humphrey and a vice president for Wachovia Bank. Most recently, he worked as a business development officer at First Capital in Atlanta.

Moody earned his bachelor's degree from The Citadel and his MBA from Auburn University. 

In addition to serving on the board of the Commercial Finance Association's Atlanta Chapter, Moody is a current board member and Finance Committee Chairman for Promise686, a not-for-profit seeking to assist families in the Atlanta area with adoption grants and foster-care training and support. Additionally, he currently sits on the board for Perimeter Church. 

"Patrick has great experience in the Atlanta market and beyond. He's very accomplished and well-respected in the business community," said Chris Carmosino, President of Business Capital for Citizens Commercial Banking. "We're excited to have him join our corporate banking team and I'm sure he'll help us expand our business."

"I look forward to drawing on my industry expertise as we expand the business," said Moody. "It's an exciting time for Citizens. The corporate banking team has been very effective at bringing great ideas to clients and helping them to achieve their financial goals."

Citizens Bank also announced that Travis Hunt has been hired as a vice president and business capital originator for Citizens Commercial Banking.      

Hunt joins Citizens from SunTrust Robinson Humphrey in Atlanta, where he was on the asset-based lending team. He earned his bachelor's and MBA degrees from Piedmont College.

"I'm very excited to join Citizens' growing team in Atlanta," said Hunt. "There is a lot of positive momentum at Citizens. I look forward to being part of a corporate banking team that brings thoughtful ideas to clients and works hard to help them achieve their strategic and financial objectives."

Santander Bank, N.A. announced that Vincent Belcastro has been appointed as the group head of equipment finance. He will be responsible for growing the team and business focused on financing activities for equipment lending, leasing, and structured finance on a national scale. The team will employ a direct calling approach, establish an institutional buy-side strategy, and service its large corporate and middle market banking clients.

"We're excited to have Vincent lead our equipment financing group," said Cameron Letters, managing director and head of commercial banking at Santander. "He brings years of industry experience that will attract new clients and reinforce our equipment finance product offering for existing clients. This fully complements our strategy to support our clients across a number of key product lines."

Belcastro comes to Santander with more than 25 years of experience in secured financing and leveraged finance, primarily in the risk management-related areas of the corporate middle market arena.  A senior secured credit professional and expert structuring specialist, he has held management positions at CIT Group Inc., Citibank, Republic National Bank and Bankers Trust (Deutsche Bank).

"Given Vincent's extensive background in the industry, we are pleased he chose to join us," said Juan Davila, head of specialty banking at Santander. "With his experience and the global reach and tremendous resources of Santander, we are in a great position to provide both advice and financing to support all of our clients' equipment needs."

Belcastro resides in Montville, New Jersey with his family. He has a Bachelor of Science in Economics and Finance from Saint Francis College.

As TAB Bank continues to expand its footprint in terms of geography and business opportunities it is pleased to announce the addition of Chip Scoggins (972-342-6311, chip.scoggins@tabbank.com) to the business development team as vice president and business development officer. Scoggins will be based in Dallas, TX and will be responsible for sourcing new business opportunities by providing asset-based and factoring working capital facilities to commercial entities with annual revenues of $2 million to $150 million.

He has over 30 years of experience in the commercial finance and banking industries.  His background includes asset-based lending, factoring, healthcare finance, and purchase order financing to small and medium-sized commercial businesses in the Southwest and across the United States.  Although the majority of Scoggins' career is in new business development, his additional experience in credit, operations, and managing turnaround portfolios has helped establish a strong background in structuring customized working capital solutions to a wide base of businesses from many industries including services, wholesale, distribution, manufacturing, assembly, fabrication, importers, and exporters.  Chip is a graduate of Clemson University and earned an MBA from Winthrop University.

"The addition of Chip to the TAB Bank business development team will greatly enhance our ability to bring flexible financing solutions to many small and medium-sized commercial businesses in Texas and throughout the entire Southwest.  Chip brings to TAB a wealth of experience in the commercial finance and asset-based lending arena as well as an extensive network of working professionals and new business prospects.  We are very pleased to welcome him to our team and look forward to many new business opportunities that will be generated through his efforts," stated Daniel Rodrigue, national sales manager for TAB Bank.

DJM Real Estate, a division of Gordon Brothers Group, has been retained by RadioShack Corporation to exclusively manage the disposition of seven owned industrial properties. These properties are located in Texas, California, Iowa and North Carolina, and are available for immediate sale.  The properties can be purchased individually or in any combination, subject to US Bankruptcy Court approval.

The properties include three major distribution centers in Ft. Worth, TX and Woodland, CA; individually ranging in size from 324,475 sq. ft. to 639,000 sq. ft.; and four properties located in Ft. Worth, TX, W. Burlington, IA and Swannanoa, NC; individually ranging in size from 100,827 sq. ft. to 151,000 sq. ft.  All properties will be delivered vacant.

"This portfolio of RadioShack's distribution centers and warehouses has drawn a lot of attention already. We have received strong expressions of interest from national players as well as regional and local investors. We have been speaking to some potential owner occupier replacement tenants as well. It is likely that the properties will be sold off individually to buyers but we are also in discussions with bulk portfolio purchasers. We anticipate a series of successful auctions for the sale of these properties, most likely through the 'stalking horse' process," said Mark Dufton, CEO of DJM Real Estate.

The RadioShack Properties Include:

1.     660 N Pioneer Ave, Woodland, CA 95776          

• 323,475 SF Distribution Warehouse on 22.49 AC. Built in 2000

2.     1719 W Mount Pleasant St, W. Burlington, IA 52655

• 100,827 SF Light Manufacturing/ Warehouse on 8.24 AC. Built from 1962-88.

3.     111 Old Bee Tree Rd, Swannanoa, NC 28778

• 151,000 SF Light Manufacturing on 41.47 AC. Built from 1952-84.

4.     401 NE 38th St, Ft Worth, TX 76106

• 132,000 SF Light Manufacturing/ Warehouse on 9.16 AC. Built in 1960.

5.     3131 W Bolt St, Ft Worth, TX 76110

• 136,570 SF Light Manufacturing/ Warehouse on 5.00 AC. Built in 1963

6.     900 Terminal Rd, Ft Worth, TX 76106

• 639,000 SF Distribution Warehouse on 23.55 AC. Built in 1975.

7.     1000 Terminal Rd, Ft Worth, TX 76106

• 600,000 SF Distribution Warehouse on 23.55 AC. Built in 1991.         

Detailed property information can be obtained at http://www.djmrealestate.com/radioshack.