logo
Plus   Neg
Share
Email

People's United Financial Unit Acquires Vend Lease Company - Quick Facts

People's United Bank, N.A., a subsidiary of People's United Financial, Inc. (PBCT), has acquired Vend Lease Company, a nationwide provider of equipment financing to suppliers and vendors primarily in the hospitality industry. Headquartered in Baltimore, MD, Vend Lease will become a division of the bank's operating subsidiary, LEAF Commercial Capital, Inc.

Jack Barnes, CEO of People's United Financial, said: "They share our client-centric approach, have a highly specialized skill-set, and a recognized brand in the markets they serve. The strength of our combined expertise will provide for an exceptional client experience, foster positive growth and be a valuable addition to our growing equipment finance business."

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Electronics retailer Best Buy Co., Inc. (BBY) reported Thursday a 27 percent increase in profit for the first quarter from last year, which was impacted by restructuring charges, and higher revenues. Both adjusted earnings per share and revenues for the quarter topped analysts' estimates. The company also provides guidance for the second quarter and reiterated its outlook for the full-year 2020. While reporting financial results for the second quarter on Thursday, Hormel Foods Corp. (HRL) lowered its earnings and net sales guidance for the full-year 2019. For fiscal 2019, the company now projects earnings in a range of $1.71 to $1.85 per share, and net sales between $9.70 billion and $10.20... NetApp Inc. (NTAP) Wednesday reported a fourth-quarter profit that fell short of Wall Street estimates, as revenues slipped 3 percent. Shares of the company slipped 6% in extended trading session after its first-quarter outlook was also short of current expectations. Sunnyvale, California-based NetApp...
Follow RTT