Community Trust Bank moves into equipment financing

Community Trust Bank (CTB) has set up an equipment finance team to launch a middle market equipment-lending platform to invest in secured loans and leases nationwide.

The new division will expand the bank’s commercial loan and lease products for middle market customers, focusing on investment opportunities of $5 million to $50 million. The initial focus will be on loans and finance leases in hard asset industry sectors including construction, food processing, healthcare, manufacturing, mining and transportation, to mention a few.

The team will handle high-quality commercial and industrial investment opportunities that offer portfolio diversification with respect to loan type, collateral, geography, industry and interest types.

It will be led by Jim Lyons, who joins as director of equipment finance from a role helping to lead an equipment finance initiative at a start-up bank co-op. Lyons has also held capital market leadership roles at AIG Commercial Equipment Finance, Associates Commercial Corporation, GE Capital and TCF Equipment Finance. Drew Hayes joins s senior vice president. He has 19 years of financial industry experience, most immediately helping to develop key capital market relationships at Alliance Partners.

Ronnie Myrick, chairman of the CTB board, said: “The addition of both Jim and Drew will afford us the opportunity to better support the needs of our existing customers and build new relationships both inside and outside our current bank footprint. They both bring a wealth of experience and relationships that aligns well with our growth strategy for expanding our C&I lending platform.”