The Sacramento Bee reported Farmers & Merchants Bank launched a new equipment leasing division, called F&M Capital. David Maurer, a 35-year veteran of banking and leasing, was named managing director of F&M Capital.

According to the report, in 2005 Maurer established a start-up leasing company for a $25 billion dollar bank headquartered in Los Angeles which grew to have 8 employees and fund over $500 million in leased assets.
 
“As a bank with a significant customer base in the agricultural, manufacturing, transportation, and processing industries, we believe that we are exceptionally well positioned to expand our traditional lending activities to include lease financing,” CEO Kent Steinwert said in a news release.