Consumer Banking
Deposits and Wealth Management
Our consumer deposit franchise provides a stable, flexible source of low all-in
cost funds and is focused on fostering strong relationships with individual
and small and mid-sized size business clients nationwide.
Our distribution channels, client acquisition strategies and centralized operating
platform provide the flexibility to tailor deposit growth to scale the business
efficiently. Our unique products and product design, distribution and marketing
strategies allow us to effectively control organic deposit growth, providing
flexibility and efficiency in funding asset growth opportunities.
We provide comprehensive financial advisory, planning, brokerage and other wealth
management services to our mass-affluent and high net worth clients through
our registered broker dealer and registered investment adviser subsidiaries.
Residential Lending and Servicing
We originate prime residential loans nationwide through retail lending offices
in large metropolitan areas, direct channels, financial centers and correspondent
relationships supported by a centrally controlled underwriting, processing and
fulfillment infrastructure. We have expanded our retail and correspondent distribution
channels in recent years with an emphasis on prime jumbo residential loans which
we either retain on our balance sheet or sell into the secondary market. These
channels and products serve the needs of our core clients and are strategic
to our balance sheet growth objectives.
Commercial Banking
Commercial Deposits
We continued to increase our emphasis on commercial deposits in 2015 in order
to deepen existing relationships with our large number of small and mid-size
business clients and to attract new commercial clients. We distinguish ourselves
from competitors based on our attractive product offering, client service and
value proposition.
Commercial & Commercial Real Estate Lending
We originate commercial real estate loans for the acquisition and refinancing
of stabilized commercial real estate for owner users, investors and developers
nationwide. Our portfolio is diversified by property type and geographic location
and includes owner occupied, single-tenant, multi-tenant commercial and multi-family
properties with an average loan size of approximately $3.5 million. We underwrite
stabilized properties with experienced borrowers, strong property/tenant cash
flow and collateral. We offer our clients competitive fixed and floating interest
rates with flexible terms.
Commercial Finance
Our commercial finance platform includes vendor equipment finance, lender finance,
capital equipment finance and business credit. Our vendor equipment finance
division originates equipment leases and loans nationwide through relationships
with over 900 equipment manufacturers, distributors and dealers with large groups
of high quality clients. Our equipment leases and loans generally finance essential-use
health care, office product, technology, industrial and other types of equipment
primarily to small and mid-size lessees and borrowers. Our typical equipment
financings range from approximately $10,000 to $5.0 million per transaction
with typical finance terms ranging from 36 to 72 months. We have significantly
increased origination activity within our equipment business since 2010 by expanding
within both our served markets as well as expanding into new markets.
The lender finance business focuses on providing revolving and term credit facilities
secured by equipment and receivables primarily to specialty finance companies
on a national basis. We have achieved significant growth in this business since
inception, as new client acquisition has driven strong growth in committed facilities
as both agent and participant.
Business credit is our asset-based lending (ABL) operation we purchased in May
2015 with advances and commitments of $94.0 million and $187.0 million, respectively,
at acquisition. This ABL portfolio consists of secured revolving and term loans
to middle market companies in need of working capital or companies undergoing
restructuring.
Our commercial finance activities provide us with access to approximately 37,000
small business clients nationwide, which creates opportunities to potentially
cross-sell other commercial and consumer banking and lending products and services.
Mortgage Warehouse Finance
Our warehouse finance business provides mortgage loan financing to mid-sized,
established mortgage banking companies across the country with a proven track
record of originating quality mortgages. A majority of our warehouse financing
loans are short-term revolving facilities, which may include sublimits, collateralized
by agency and government residential loans originated by our clients. Our loan
commitment sizes generally range from $30 million to $150 million. The majority
of the advances made on these facilities are made as short-term repurchase agreements
which protects us by providing us ownership of the collateral in the event of
default. The advances made on these facilities are discounted based on the relative
risk of the underlying collateral with higher advance rates on agency and government
deliverable mortgages and smaller advance rates on servicing advances and mortgage
servicing assets.