Apple Bank Establishes Equipment Finance Group, Walters to Lead

Apple Bank established an equipment finance group to be headed by Ken Walters and an initial core team of seven people who have worked together for many years. The group, part of Apple Bank’s commercial and industrial (C&I) lending practice, will launch this month. The senior team includes Sondra Rowland as senior vice president and credit leader, Edward Burns as senior vice president and capital markets leader, Julianne Pannullo as senior vice president and operations leader and Michael Fuoti as senior vice president and business development officer.

“Apple Bank’s executive team has studied the equipment finance market carefully and interviewed many potential candidate groups, determining that Mr. Walters and his team have an unmatched, proven track record for building their lending practice and not only possess vast market knowledge, but also demonstrate rock-solid portfolio management skills and have an organizational EQ that fits well with our own,” Steven C. Bush, chairman, president and CEO of Apple Bank, said.

“It is a great pleasure to join Apple Bank, an excellent platform for our team to extend our past success at growing a highly profitable equipment finance operation and helping our customers to address their equipment financing needs,” Walter said. “Our solid new platform at Apple Bank, a privately held, 160-year-old and well-capitalized institution, should serve the equipment financing market well.”

“We look forward to Ken’s leadership and the launch of our equipment financing business. The asset class will nicely complement our range of secured lending and our steady and dependable returns from our very conservative portfolio,” Bush said.