Midland States Bank announced that Midland Equipment Finance (MEF), its equipment finance division, has again been recognized as a Top 100 U.S. Equipment Finance and Leasing Company by The Monitor Daily, the leading equipment leasing and finance industry publication.
MEF climbed from its initial 67th ranking to 52nd for new business volume, and from 79th to 63rd for total asset size. Both rankings are based on Dec. 31, 2020, year-end financial reporting.
“MEF’s growth is a true testament to the streamlined business model, efficient origination process and long-standing relationships Fred and his team have built,” said Jeff Mefford, President of Midland States Bank. “It’s especially impressive given the uncertain business climate which limited business travel and trade events this past year.”
“We have continued to execute the long-term strategic plan which we initially outlined for this division and continue to refine.” said Fred Van Etten, President of Midland Equipment Finance. “I am very pleased with the results and look forward to MEF’s future successes.”
MEF provides finance solutions for U.S. businesses in the construction, transportation, waste, manufacturing, specialty vehicle and health care industries. The division is headquartered in St. Louis, Missouri, and operates from 12 regional offices. Van Etten and his core management team have worked together for over 15 years and have built a strong sales team of highly experienced, industry-specific experts.