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Bank of the West Acquires Trinity Capital It's Official (We reported October 18,2002) ## ########################################## San Francisco -- San Francisco-based Bank of
the West announced it has acquired Trinity Capital Corporation,
a privately held equipment leasing company. Trinity originates commercial
equipment leases, has a portfolio of approximately $160 million Trinity Capital will become a wholly-owned subsidiary
of Bank of the West and operate under its existing name. The price of
the acquisition was not disclosed. "Trinity's leasing expertise and lease
servicing capacity will enhance our ability to serve our existing commercial
customers," said Don J. McGrath, Bank of the West President and
CEO. "In addition, our 300-branch distribution network provides
a platform for significant growth for Trinity." "This acquisition underscores Bank of the West's commitment
to equipment leasing as a core product line," said Jerry Newell,
Bank of the West's Equipment Leasing manager. Bank of the West has a
current portfolio of over $400 million in leases originated through
its branch system and a nationwide network of brokers. The
Bank will continue to grow its two existing leasing businesses, Newell
added, and the addition of Trinity Capital's vendor sourced. Trinity Capital Acquisition leases will further expand the scope
of the bank's equipment leasing product line. "Bank of the West
will now originate leases through three distinct channels - brokers,
direct sales and Trinity -- each with positive growth dynamics,"
said Newell. "These businesses will be supported with the expanded servicing
capabilities acquired through Trinity." "Partnering with Bank of the West will allow us to expand our
offerings to the industries we serve and will also contribute significantly
to the success of Bank of the West," said Jim Halow, President
of Trinity Capital. Trinity owners Jim and Donna Halow will continue
in their executive positions. No staff reductions are planned. Trinity
Capital Corporation was launched in San Francisco by the Halows in 1980,
and specializes in nationwide vendor leasing programs for manufacturers
in specific vertical markets About Bank of the West The third-ranked commercial bank headquartered
in California, Bank of the West serves 1.5 million retail and commercial
customers in six states, as well as through such national specialty
business lines as equipment leasing, religious institution lending and
SBA lending. With nearly 300 branches in California, Oregon, Washington,
Idaho, Nevada and New Mexico, $25.7 billion asset Bank of the West is
a subsidiary of BancWest Corporation, a unit of Paris-based BNP Paribas,
France's largest listed bank. ### ###
##################### On the 19th of October, we reported
this( and then followed on October 22, with a statement verifying all this from Jerry
Newell “Jerry Newell: Bank of the West/Trinity Capital
$180M R+ $900M Management” http://www.leasingnews.org/archives/October2002/10-22-2002.htm#jerry). Bank
of the West spokesman said the Trinity Capital operation will remain
in tact in San Francisco. The purpose is to coordinate and take over
operations of the banks expansion into the East Coast and new branches
in Southern California. The Bank of West spokesman could not comment
on the merging of the CapitalStream operation or sales/vendor team at
Trinity. "As you know, I started the Equipment Leasing
group for Central Bank, formerly Cenval, & now Bank Of The West
in 1972. Because Cenval had several branches in 11 Western States, we
did hire some direct sales people in my Division to work out of 4 of
these offices. " While our primary emphasis was, and still
is, Broker business, we felt it necessary to serve the Bank's clients
as well. I had a very firm policy that if any of our sales people "bumped
heads" with one of our Brokers on a particular deal, we would defer
to the Broker. " This policy worked great and I do not
recall that we ever had a problem. We also did not allow the Bank or
any other departments to have access to our customer base as we always
considered the Broker as our customer.". Russ Rickards (Retired) Headquartered in San Francisco, Trinity Capital
has provided equipment financing to small and medium-sized businesses
throughout the U.S. for over 20 years. Trinity's lease management services
are recognized as the best in the industry. heir portfolio is reported
in excellent shape, employee morale is very high, and the company is
very successful, according to insiders. JAMES HALOW, President and C.E.O. An alumnus of U. S. Leasing and Stanford Business
School, Jim formed Trinity in 1981. He focuses on b0usiness development,
industry relations and maintenance of Trinity's high standards and reputation. jhalow@trinitycapital.com DONNA HALOW, Executive Vice President and General
Manager Donna left a management position at Levi Strauss to join Trinity
in 1982. She has an MBA from the University of Washington and previously
worked in Finance at Ford Motor Company. She manages major client relationships
and oversees the Company's operations. Her staff creates the excellence
for which Trinity is known. dhalow@trinitycapital.com Sales and Marketing Team Nick Gibbens Vice President, Sales Phone (800) 841-4433, ext. 140 Fax (415) 956-5187 ngibbens@trinitycapital.com James Elwood Director of Business Development Phone (800) 841-4433, ext. 152 Fax (415) 956-5187 jelwood@trinitycapital.com Anne Rodriguez National Accounts Manager Phone (800) 841-4433, ext. 104 Fax (415) 956-5187 arodriguez@trinitycapital.com Bob Shafer National Accounts Manager Phone (888) 742-8230 Fax (310) 542-5883 rshafer@trinitycapital.com Chris Woolson National Accounts Manager Phone (800) 841-4433, ext. 122 Fax (415) 956-5187 cwoolson@trinitycapital.com Dave Johnson National Accounts Manager Phone (800) 841-4433, ext. 194 Fax (415) 956-5187 djohnson@trinitycapital.com Ed Beitenman National Accounts Manager Phone (800) 841-4433, ext. 103 Fax (415) 956-5187 ebeitenman@trinitycapital.com Ernest Leal National Accounts Manager Phone (877) 900-8666 Fax (310) 793-2320 eleal@trinitycapital.com Kelly Karcher National Accounts Manager Phone (800) 841-4433, ext. 157 Fax (415) 956-5187 kkarcher@trinitycapital.com Mark Johnson National Accounts Manager Phone (800) 841-4433, ext. 119 Fax (415) 956-5187 mjohnson@trinitycapital.com Tracy Fu Account Manager Phone (800) 841-4433, ext. 207 Fax (415) 956-5187 tfu@trinitycapital.com Heather Isaacs Sales Associate Phone (800) 841-4433, ext. 131 Fax (415) 956-5187 hisaacs@trinitycapital.com Brad Boler Sales Associate Phone (800) 841-4433, ext. 129 Fax (415) 956-5187 bboler@trinitycapital.com Katherine Utsumi Marketing Coordinator Phone (800) 892-8910, x222 Fax (800) 878-7207 kutsumi@trinitycapital.com Trina Van der Poll Designer/Marketing Phone (800) 841-4433, ext. 171 Fax (415) 358-5525 tvanderpoll@trinitycapital.com Sandy McKenzie, Supervisor, Vendor Services smckenzie@trinitycapital.com Story
originally released on 11/13/02 |
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