Jan 23 - Midwest Independent Bank has formed a partnership with K2 Capital Group to offer equipment leasing solutions to MIB and its respondent banks. Traditionally, community banks have not had the expertise or resources to offer equipment leasing to their commercial clients. This new partnership allows MIB’s customer banks to offer leasing to their customers.
“In today’s environment, community banks have to provide a wider array of solutions to their customers in order to stay competitive,” said Bill Lloyd, MIB executive vice president of commercial lending. “We believe equipment finance will be an important addition to our clients’ product mixes. With this partnership, we are now able to offer competitive, creative leasing solutions to our bank partners.”
K2 Capital already works with dozens of community banks across the country. This new partnership strengthens its connection to the community bank industry and increases its opportunity to provide creative finance solutions to creditworthy commercial customers.
“Community banks are competing for quality earning assets every day,” said Tom Grady, K2 Capital’s vice president of capital markets. “We believe equipment leasing is an important option for them to offer their customers. If you’re going to compete in the C&I space, you have to have that option available. We’re happy to provide the expertise and know-how in order for these community banks to win more business and retain their existing relationships.”
K2 Capital Group is headquartered in Minneapolis and has additional offices in Illinois, Arizona and Colorado. The company offers equipment leasing directly to end users as well as private-label financing solutions to medical equipment manufacturers. The company also offers customized leasing programs for commercial banks that do not have a leasing program of their own.
Midwest Independent Bancshares Inc. (MIB Inc.) is the bank holding company of Midwest Independent Bank, which is wholly owned. MIB is a “bankers’ bank” that provides a wide array of correspondent banking services to more than 600 financial institutions throughout the Midwest. MIB is based in Jefferson City, Mo. MIB Inc. also offers auditing, training and consulting services to community banks through MIB Banc Services LLC and is the majority owner of First Bankers’ Banc Securities Inc. FBBS offers investment products to community banks in more than