Pub. 2 2014 Issue 4

fall 2014 19 “We are honored to receive this recognition,” said Reese S. Howell, Jr., Chief Executive Officer for Celtic Bank. “Celtic Bank’s employees are the backbone of our company and their commitment to excellence has fueled our growth, particularly here in Utah. Celtic Bank was recently named the number one SBA lender in Utah and the eighth largest SBA lender in the nation, which is a direct result of the dedication and profession- alism our employees put forth each and every day.” CELTIC BANK IS NAMED UTAH’S TOP SBA LENDER Celtic Bank is pleased to announce that it was recognized by the SBA Utah District Office for being Utah’s #1 SBA lender for FY 2014, surpassing all other lenders in the state of Utah for dollar volume. Celtic Bank was also recognized for being the most ac- tive medium-size lender (assets of $200 million to $1 billion) in the Utah District Office 7(a) lending category. Celtic Bank was presented with the awards during an event hosted by the SBA Utah District Office on November 20, 2014. Celtic Bank was also named the 8th largest SBA lender in the nation for FY 2014. “We are honored to receive this recognition,” said Reese S. Howell, Jr., Chief Executive Officer for Celtic Bank. “Con- tributing to the growth and success of Utah’s small business community has always been a priority for our company. We are very fortunate to have a well-respected and dedicated team of small business financing professionals that are committed to helping Utah’s small businesses get the financing they need to grow and thrive.” n CIT BANK CIT BANK PARTNERS WITH CITY CENTER CREDIT UNION TO MAKE IMPROVEMENTS TO ITS MAIN OFFICE CIT Bank partnered with City Center Credit Union (CCCU), FKA Provo Postal Credit Union, to make property and infra- structure improvements to its main office. CCCU is a small, one-branch low-income credit union in Provo, Utah. CIT Bank recognized the value that CCCU was bringing to the Provo community and provided CRA funds to help with property and building improvements, new computers, online banking fea- tures to improve staff efficiency and marketing expenses for the credit union for the upcoming year. The outcome of this grant enables CCCU to reach more of its low-income clients through improved services. CIT Bank, located in SLC, is committed to reinvesting in its community and has invested over $80MM in loans and invest- ment in 2014 and over $700k in CRA grants. CIT Bank has a staff of approximately 50 employees and serves on a variety of nonprofit boards and committees and participates in teaching financial literacy classes for low-income families. Year-to-date, CIT Bank employees have provided over 700 hours of service, an average of 14 hours per employee. CIT Bank is proud to partner with City Center Credit Union to improve the services it provides to residents in Provo, Utah. n TAB BANK TAB BANK PROVIDES METAL FORGING COMPANY WITH A $3.5 MILLION ASSET-BASED REVOLVING CREDIT FACILITY TAB Bank is pleased to announce it has provided a $3.5 million asset-based revolving credit facility for a metal forging company located in Texas. The company forges and machines aluminum and steel into mission critical aircraft components for the aerospace, defense, and industrial markets. TAB Bank provides custom working capital solutions to commercial businesses from many industries. These solutions are provided in all stages of business life cycles during any economic conditions. TAB Bank does this through Accounts Receivable Financing, Lines of Credit, Equipment Finance, Asset Based Loans, Business Accounts, and Treasury Man- agement Services. TAB BANK PROVIDES MANUFACTUR- ING COMPANY WITH A $4 MILLION FLEX ASSET-BASED CREDIT FACILITY TAB Bank is pleased to announce it has provided a $4 million Flex Asset-Based credit facility for a manufac- turing company located in California. The company is a manufacturer and supplier of imaging support products and accessories for wholesale and retail image processing entities (e.g. Walgreens, Shutterf ly, CVS). The new facility contains a $1 million sub-limit for inventory and will pro- vide for the ongoing working capital needs of the company. TAB Bank provides custom working capital solutions to commercial businesses from many industries. These solutions are provided in all stages of business life cycles during any economic conditions. TAB Bank does this through Accounts Receivable Financing, Lines of Credit, Equipment Finance, Asset Based Loans, Business Ac- counts, and Treasury Management Services. n TAB BANK PROVIDES TRANSPORTA- TION COMPANY WITH A $2.8 MILLION REVOLVING CREDIT FACILITY TAB Bank is pleased to announce it has provided a $2.8 million revolving credit facility for a transportation compa- ny located in the Midwest. The company is a full-service, asset-based logistics provider. The company provides service in all of the lower 48 states, with the majority of their service being provided in the Midwest. Proceeds of the facility will be used to pay the company’s previous lender and to provide for the ongoing working capital needs of the company. In addition to the $2.8 million re- volving credit facility, the company also secured $517,000 in equipment financing through a term loan from TAB Bank. n