TriState Capital Bank Named a Leading Equipment Finance Company by Monitor for Sixth Consecutive Year
$313 million in new business led to 28.5% YOY growth with middle market clients
For the sixth consecutive year, TriState Capital Bank was recognized by Monitor as one of the top-performing equipment finance companies in the United States. The bank's 28.5% year-over-year gain in total loans and leases in 2024 landed TriState Capital at No. 77 on the 2025 Monitor 100, up seven spots from last year.
In 2024, its seventh year, TriState Capital Equipment Finance grew its loans and leases to $708.3 million from $551.2 million in 2023. The bank's 28.5% gain was the 15th-largest increase in the list.
Tim Moriarity, executive vice president and manager of the equipment finance group, credits the success to building strong relationships based on personalized service. TriState Capital Equipment Finance has the experience and flexibility to meet client needs and promote business success, offering tailored solutions through competitive leasing and loan structures. The team added $313.4 million in new business last year.
"Our equipment finance division delivered exceptional performance in 2024, driven by disciplined credit practices, strategic partnerships and a focus on client-centered solutions," said Moriarity, who launched the division out of the bank's general commercial lending business in 2018. "Even in a challenging rate environment, we sought to be consistent in our originations, maintained strong portfolio quality and supported businesses across industries in acquiring the assets they need to compete and grow."
The equipment finance business continued its success in the Northeast and the Midwest, with a specific focus on the Chicago area, as well as continued growth in its overall regional footprint of New Jersey, New York, Ohio, and Pennsylvania and contiguous states.
Companies and deals are centered on the ongoing acquisition of essential-use equipment, primarily in the transportation, manufacturing and construction sectors. As part of TriState Capital Bank, with assets exceeding $21 billion, the group offers the scale, expertise and technology clients expect from a full-service bank. These resources allow it to help businesses maximize efficiency and productivity through essential-use equipment financing. Since its inaugural year, the division has rapidly grown its assets from $18.1 million in 2018 to $708 million in 2024.
"Reaching six straight years of year-over-year growth is a testament to the strength of our team, the trust of our clients and our ability to adapt in a dynamic market," said TriState Capital Bank Chairman and CEO Brian Fetterolf. "In 2024, we continued to expand our business while delivering consistent value and performance to our clients — solidifying our position as a leading provider in the equipment finance space."
The Monitor 100 is published by MonitorDaily, a leading publication in the equipment finance industry. The list is an annual report of the largest equipment finance and leasing companies in the United States. More information about the Monitor 100 is available at monitor100.monitordaily.com.
ABOUT TRISTATE CAPITAL
TriState Capital Bank is headquartered in Pittsburgh, Pennsylvania, and provides commercial banking, private banking and treasury management services to middle-market companies, institutional clients and high-net-worth individuals. TriState Capital Bank serves middle-market commercial customers through regional representative offices in Pittsburgh; Philadelphia; Cleveland; Edison, New Jersey; and New York City, as well as high-net-worth individuals nationwide through its national referral network of financial intermediaries. TriState Capital Bank is a wholly owned subsidiary of Raymond James Financial, Inc. (NYSE:RJF), a leading diversified financial services company providing private client group, capital markets, asset management, banking and other services to individuals, corporations and municipalities. TriState Capital Bank is a Pennsylvania chartered bank.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250721371380/en/
MEDIA
Jeff Shurilla
Hornercom
215-764-2376
[email protected]