Northwest Bank in Columbus, Ohio, has formed a commercial finance group.
The $14 billion-asset bank said in a press release that the group will focus on business aviation, long-haul trucking, inland and offshore marine financing and general equipment loans to large and midsize companies.
The group will operate across the eastern United States.
Lee Palm was named the group’s president. He previously served as president of commercial finance at TCF Bank. TCF was sold to Huntington Bancshares in 2021.
Northwest said that Brian Shapiro will serve as managing director of its commercial finance group. He was executive director of commercial finance at Chemical Bank, which is now part of Huntington.
Finally, Phil Mulder was named the group’s head of credit and risk. He recently led underwriting and portfolio management for the western U.S. and specialty verticals at Citizens Asset Finance.
“We are excited to enter this commercial space and proud to launch the team we’ve assembled to focus on equipment finance as we continue to grow and diversify,” Mark Reitzes, Northwest’s senior executive vice president of commercial banking, said in the release.