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“I'M VERY PROUD TO TELL YOU OF MY NEW LEASING ORGANIZATION! WE WILL BE PART OF INDEPENDENCE COMMUNITY BANK, (NASDAQ SYMBOL - ICBC, WEBSITE - WWW.ICBNY.COM) A GREATER NYC/NJ COMMERCIAL BANK WITH OVER 120 BRANCHES THAT DATES BACK TO 1850! HOW'S THAT FOR STABILITY? THE BANK IS OVER $18 BILLION IN ASSETS, EXTREMELY PROFITABLE AND ENJOYS A MARKET CAPITALIZATION OF $3.1 BILLION. “WE WILL BE STARTING A BRAND NEW LEASING COMPANY, SIMILAR IN MANY WAYS TO THE ONE I BEGAN IN 1991 FOR EUROPEAN AMERICAN BANK. OF COURSE WE WILL BE A FUNDING SOURCE FOR SMALL AND MID SIZED LESSORS LOOKING FOR TRANSACTIONS UP TO A FEW $MILLION. SIMULTANEOUSLY, ALTHOUGH SEPARATELY, A DIRECT SALES STAFF WILL BE HIRED FOR THE SAME SIZED TRANSACTIONS. “WE WILL BE DRIVEN BY COMMON SENSE, NOT SILLY RULES. CREDIT AND COLLATERAL WILL COUNT, BUT SO WILL THE INTEGRITY OF THE LESSEE, LESSOR AND VENDOR. “WE WILL SUPPORT OUR LESSORS WITH DIRECT CREDIT LINES WHEN NEEDED, PARTIAL AND FULL RECOURSE STRATEGIES AND NON RECOURSE FUNDING. “WHILE OUR PRIMARY GOAL WILL BE TO BUILD A SOLID BANK LEASING OPERATION AS I HAVE DONE IN THE PAST, OUR METHOD WILL INCLUDE STRENGTHENING OUR LESSORS SO THAT THEIR FRANCHISE VALUES WILL GROW OVER TIME. THIS VALUE ADDED FOR OUR LESSORS WILL DIFFERENTIATE US FROM THE PACK.” IRA ROMOFF DIRECTOR OF LEASING INDEPENDENCE COMMUNITY BANK |
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