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Friday, January 24, 2025
Today's Leasing News Headlines New Hires/Promotions in the Leasing Business ######## surrounding the article denotes it is a press release, it was not written by Leasing News nor has the information been verified, but from the source noted. When an article is signed by the writer, it is considered a byline. It reflects the opinion and research of the writer.
[headlines] New Hires/Promotions in the Leasing Business
[headlines] Wintrust Financial Corporation Reports Wintrust Financial Corporation (“Wintrust”),recorded quarterly net income of $185.4 million or $2.63 per diluted common share for the fourth quarter of 2024, compared to net income of $170.0 million or $2.47 per diluted common share for the third quarter of 2024. Pre-tax, pre-provision income (non-GAAP) totaled $270.1 million as compared to $255.0 million for the third quarter of 2024.
Additionally, Mr. Crane emphasized, “Net interest margin in the fourth quarter was unchanged compared to the third quarter of 2024. Our relative neutral sensitivity to further interest rate changes should allow our net interest margin to remain in the 3.50% range as we move forward into 2025 given the current market consensus outlook. Stable net interest margin coupled with continued balance sheet growth should result in further net interest income growth in 2025. Focusing on building long term franchise value, growth of net interest income, disciplined expense control and maintaining our consistent credit standards remain our priorities in 2025.” Highlights of the fourth quarter of 2024 with full press release: [headlines] Leasing and Finance Industry Help Wanted [headlines] PEAC Solutions Celebrates Unprecedented PEAC Solutions is proud to announce significant commercial growth in the U.S. market. The company recently closed the 2024 business year with USD 1.49 billion in new business volume, which represents a nearly threefold increase in new business from the USD 509 million funded in 2022.
“This strong growth is a direct result of our commitment to delivering innovative solutions and an exceptional service experience to all of our partners and customers.” In 2024, PEAC also completed two successful securitizations, totaling almost USD 1 billion and backed by leases and loans secured by office, commercial, industrial, and other construction equipment. Both securitizations received top-class ratings of F1+/AAA from Fitch and K1+/AAA from KBRA and were met with strong investor interest, which underscored confidence in PEAC Solutions’ growth strategy and financial management.
The company also invested in cutting-edge technology to enhance its digital platforms, improving the customer experience and expanding its reach across key markets. All of these development efforts have solidified its reputation as a trusted partner in equipment financing. Looking ahead, PEAC Solutions plans to build on its momentum in 2025 by further innovating its products, expanding its market presence, and continuing to deliver value to its partners and customers. As PEAC Solutions celebrates these exceptional achievements, it enters the 2025 business year with a renewed commitment to empowering businesses with innovative financial solutions that help drive their continued growth and success. About PEAC Solutions Our primary focus is on delivering a first-class customer service experience while offering lease and loan products that enable our customers to more easily access equipment and technologies that can enhance their productivity and business growth. With our capabilities available across North America, Europe, and the United Kingdom, PEAC has established a strong global network that is capable of delivering solutions to diverse markets and clientele. PEAC Solutions is a trademark of Marlin Leasing Corporation. For inquiries and partnership opportunities, please visit PEACSolutions.com. NMLS# 2227023
[headlines] President Trump’s DEI Executive Order
SBA will place all employees of its DEIA (Diversity, Equity, Inclusion, Accessibility) office on paid administrative leave by close of business today, January 22, 2025. Staff will continue to receive full salary and benefits. However, they are "not required or expected" to perform any work-related tasks, are not expected to come into the office, and will lose access to their sba.gov email addresses. SBA must take down its DEIA websites and social media accounts. It is important to note what the order does not say. Despite reports to the contrary, the Executive Order does not change SBA's mission of getting capital to Main Street and, more importantly, its mission of getting capital to underserved markets. Source: Coleman Reports -------------------------------------------------------------- ##### Press Release ####################### OOIDA supports Truck Leasing Task Force The Owner-Operator Independent Drivers Association (OOIDA) supports a report by the Truck Leasing Task Force, which unequivocally calls for an end to predatory truck lease-purchase agreements. During several meetings hosted by the Federal Motor Carrier Safety Administration, the Task Force characterized these programs as fraudulent and oppressive, concluding that they are irredeemable and should be banned. OOIDA agrees and has voiced similar concerns for decades. According to the Task Force, truck lease-purchase agreements—where carriers control drivers’ work, compensation, and debts—fail more than 90% of the time, leaving hundreds of thousands of drivers financially devastated. The report calls for Congressional action to ban these agreements outright, deeming this step the most effective solution to prevent further harm to truck drivers and the trucking industry. The Consumer Financial Protection Bureau Staff Report supplements the Task Force’s recommendations. CFPB’s Observations on Truck Lease-Purchase Agreements documents how truck leases differ from conventional financing agreements for automobiles and other vehicles in significant ways, including confusing earnings and expenses projections, broad default provisions, and inducing drivers to relinquish trucks. Harm to industry and public safety “Congress should ban commercial motor vehicle lease-purchase agreements as irredeemable tools of fraud and driver oppression that threaten a safe national transportation system and diminish the number of truck drivers attracted to and who stay in the trucking industry,” the report states.
Backup Plan for Reform Acknowledging the challenge of an outright ban, the Task Force also presented recommendations to mitigate the harm caused by these programs. These include:
A Year of Advocacy and Research The Truck Leasing Task Force, formed by Congress in 2023, spent more than a year analyzing the pervasive issue of predatory lease-purchase programs. Drawing on testimony from drivers, industry experts, and government agencies, the Task Force concluded that these agreements systematically exploit truckers without providing a pathway to truck ownership. Ryan Kelly of the Consumer Financial Protection Bureau, said, “Drivers make payments but accrue no equity. With a 90% failure rate, these programs are designed to fail—not by accident, but by intent.” The final report details all recommendations in full. OOIDA remains committed to working with lawmakers and regulatory agencies to protect drivers and eliminate predatory practices in the trucking industry. About OOIDA For additional information, visit www.ooida.com. ### Press Release ########################
[headlines] ### Press Release ######################## AP Fleet Management’s 2024 Milestones In its first year, AP Fleet Management achieved significant milestones. These included forming a strategic partnership with global market leader PALFINGER, investing over $30 million in fleet rental assets for 3-to-24-month terms during the second half of 2024, and completing its largest leasing deal to date, an $11,140,000 agreement with an investment-grade U.S. company.
“We have built an industry leading team that brings a high level of knowledge and experience to AP Fleet while sharing a unified vision of disrupting the status quo, innovating, and collaborating to create purpose-built solutions for our clients. Our vision is to redefine how our clients think about fleet management through an unmatched attention to detail and focus on the client experience. We are excited about the challenges and successes we will see in 2025 as to continue to expand our programs and product offerings.” Bucket Truck Rental Partnership AP Fleet Management partnered with PALFINGER, the world’s leading producer and provider of innovative crane and lifting solutions, to deliver reliable and cost-effective bucket truck rental, leasing, and financing options to businesses across the United States. This collaboration allows AP to offer a comprehensive range of high-quality bucket trucks, each designed with cutting-edge technology to enhance operator safety and efficiency. This new lineup includes PALFINGER insulated and non-insulated bucket trucks and material handling models. Designed with PALFINGER’s trusted engineering expertise, these bucket trucks are built to meet diverse personnel lifting needs, ensuring that businesses have the right tools to get the job done safely and efficiently. Diverse Fleet Options AP Fleet Management has secured various fleet assets in 2024 to serve a wide market within the US. The vehicle options include:
The industries AP Fleet serves include last mile delivery, electrical & energy contractors, renewable & traditional energy, entertainment, arbor & landscape, utility & maintenance, construction, telecommunications, and more. Expanded fleet offerings to serve additional industries will be introduced in 2025 and beyond, including camps, colleges, and hotels. About AP Fleet Management AP Fleet Management offers rental, leasing, and financing solutions for a wide variety of products. AP Fleet Management is part of AP Equipment Financing, a company that has provided financing, rental and leasing solutions for essential industries since 1998. AP is backed by Tokyo Century Corporation, renowned for its expertise in fleet management, overseeing a global fleet of over 750,000 vehicles. For More information: #### Press Release ######################## [headlines] News Briefs National Equipment Finance Association GATX Corporation Reports Store closures hit highest level since pandemic 3 in 10 Tesla owners plan to sell their cars Multiple new blazes erupt in SoCal Housing Shortage, Not Volatile Rates, Is Biggest [headlines] More Americans file for unemployment benefits [headlines]
Josh Allen and the Buffalo Bills Are on a Quest [headlines]
This California city lost thousands of homes to fire. Santa Rosa’s rebuilding has lessons for L.A. Major San Francisco Union Square hotel to [headlines] Gimme that Wine
http://www.youtube.com/watch?v=EJnQoi8DSE8 DtC Wine Shipping Declines in the Silicon Valley Bank Releases 24th Annual The Champagne Club Awards Champagne Pommery [headlines] This Day in History https://leasingnews.org/archives/Jan2023/01_23.htm#history ------------------------------------------------------------- SuDoku The object is to insert the numbers in the boxes to satisfy only one condition: each row, column and 3x3 box must contain the digits 1 through 9 exactly once. What could be simpler? -------------------------------------------------------------- Daily Puzzle How to play: Refresh for current date: -------------------------------------------------------------- http://www.gasbuddy.com/ -------------------------------------------------------------- Weather See USA map, click to specific area, no commercials -------------------------------------------------------------- Traffic Live--- Real Time Traffic Information You can save up to 20 different routes and check them out with one click, -------------------------------- Wordle https://www.powerlanguage.co.uk/wordle/ |
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