Bell Bank announced the launch of Bell Bank Equipment Finance, a new division of the bank. The division will enhance Bell’s commercial and industrial (C&I) lending capabilities by offering equipment financing options across a wide range of industries, primarily focusing on manufacturing, transportation, construction and agriculture.
Eric Zehr, President of the new division and a veteran in the equipment finance industry, has hired a seasoned team averaging over 20 years of experience in this specialized field.
He anticipates many of Bell’s existing business clients, as well as new customers, will take advantage of the bank’s expanded equipment financing capabilities. The group will also provide vendor financing services and work with other financial institutions on syndicated transactions.
“We look forward to partnering with our existing commercial lending and correspondent banking customers and prospects to offer new products not typically accessible without a dedicated equipment finance platform,” Zehr said.
With a high volume of transactions, Zehr said, “speed, flexibility, friendliness and competitive pricing are the keys to success in this business line.”
Equipment Finance Team
Zehr leads a team of professionals, with plans to expand over the next several years.
- Zehr is a 24-year veteran in equipment finance, having previously worked for Farm Credit Leasing, GE Capital and Merchants Bank Equipment Finance.
- Travis Johnson, Senior Vice President/Credit Officer, has been in equipment finance for 25 years, the last 15 years with TCF Equipment Finance and related entities.
- Tim Stickler, Vice President/Controller, also joins Bell from TCF Equipment Finance, where he worked for the last 14 years.
- Sally Laing, Vice President/Documentation manager, has been in the banking field for 17 years and worked at Merchants Bank Equipment Finance for the last seven years.
- Jeff Tibbetts, Vice President/Territory Manager, has been in the equipment finance field for the past 10 years and was previously employed by Merchants Bank Equipment Finance.
The initial team will have its office at The Colonnade in Minneapolis, MN.
With its headquarters in Fargo, ND, Bell Bank was chartered in 1966 and has grown to become one of the nation’s largest privately held banks.