Equipment Finance Advisor: How will Wintrust compete in the current hyper-competitive market? Do you see any competitive advantages for your group as a bank-owned equipment finance company?

Phillips: Our team has an average of 25 years of experience in the equipment finance and leasing business and we have been successful throughout several economic and business cycles. I can’t remember many times when this industry hasn’t been competitive. We have succeeded in the past, and will do so again at Wintrust by providing superior customer service at a competitive price point. This fits well with Wintrust Financial Corporation’s theme of “Have It All” -- where you have the resources of a large bank with the personal attention of a relationship lender. Clients, both direct and indirect, are looking for a lender that is predictable, consistent and efficient in reviewing and processing their transactions, and doing so in a professional and courteous manner is critical. A lot of this comes down to establishing and maintaining relationships; one-on-one and face-to-face. We are strong believers in understanding the customer’s business and objectives. Once you understand the customer’s needs, you can begin to put together a financing structure that aligns with their objectives and provides a prudent risk adjusted return for WFC.

Equipment Finance Advisor: Kirk, from a personal perspective, what attracted you to this particular opportunity and what are you finding is attracting the team you are building?

Phillips: Over the last 25 years, I have worked with some very talented individuals and mentors at three top performing commercial finance companies including ITT, Transamerica and AIG. When we connected with Wintrust, I felt the same dedication to building a best in class bank-owned equipment finance company we felt when we started with those institutions. The Wintrust culture is very entrepreneurial and one that is genuinely interested in helping the customer, investing into the lives of its employees and providing a superior return to its stakeholders. It is also a chance for this team to make a meaningful impact on the growth and direction of the bank. Combined, it was an easy decision for me and those that have joined us.

Equipment Finance Advisor: Tell us a bit about the team you have hired to date and the team you will be building. When will you begin your go-to-market strategy?

Phillips: Joe Thompson, Jeff Darlington and Paul Hallauer – the Chief Operating Officer, Chief Financial Officer and Chief Credit Officer, respectively – have been key in putting this new group together and building it out. We have also recently hired a General Counsel and Operations Manager and we will be building our credit and marketing teams in very short order.

We were fortunate that our launch occurred the week prior to the Equipment Leasing and Finance Association (ELFA) Funding Conference in Chicago. We got a lot of tailwind off our meetings at the Funding Conference and have had more than enough deals to review. As a matter of fact, we recently received a credit approval on our first transaction with Wintrust and have several more deals in the pipeline that look like solid investments. We just need to add resources to help process all of the opportunities that are coming our way.

It’s funny, when we first launched I had a few sleepless night wondering where the deals would come from. That hasn’t been a problem. I think our track record, the relationships we have built over the past 25 years, and our reputation for doing the right thing have made it easy for customers to trust us with their funding needs.

We are very excited to have the opportunity to work with Wintrust and the senior management team. We feel the market is strong for our product offerings and we have a very bright and positive future ahead of us.