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First Commonwealth Bank Enters Equipment Finance Business, Boyer to Lead

June 15, 2021, 07:25 AM

First Commonwealth Bank announced it is entering the equipment leasing and finance business with the addition of Rob Boyer to its executive team as Executive Vice President of First Commonwealth Bank and President of First Commonwealth Equipment Finance Group.

Boyer brings a wealth of industry knowledge with 26 years in the equipment finance space as he starts, develops and leads the bank’s entry into the small-ticket equipment finance business.

T. Michael Price, CEO of First Commonwealth, said, “It is an honor to have someone with Rob’s experience on our team. As an icon in the industry, Rob brings vast experience in running an autonomous, multi-faceted equipment finance business seamlessly within a banking environment.”  

In addition to hiring a team, Boyer will lead the implementation of the systems, policies and processes needed to build, run and grow the business which will be focused on small-ticket equipment finance including construction equipment, machine tools, trucking/trailers, emergency vehicles and medical equipment.

Along with his robust knowledge of the business and vast network of industry contacts, Boyer is a Board Director and Vice Chairman of the Equipment Leasing and Finance Association (ELFA) and has previously chaired its Membership Committee and Small Ticket Business Council Steering Committee. He has also served as a Director on the Board for the Certified Leasing and Finance Professional Foundation.
Boyer enjoys operating his business inside of a bank that offers autonomy and shares good cultural values and a commitment to the customer. “The ‘people and customer first’ culture of First Commonwealth, along with its scale and aggressive growth goals, are what attracted me to starting an entirely new business line for First Commonwealth. The executive team truly walk the talk from a culture perspective and were great to work with in developing the strategy into action.”
The equipment leasing and financing division will be headquartered in suburban Philadelphia.
Rinaldi Advisory Services served as advisors to FCB on the project from concept to execution and Principal Bob Rinaldi added this, “Harry Kaplun and I were honored to help bring Rob to the talented and progressive team at FCB. Together, this combination will drive scale and shareholder value.”

First Commonwealth Financial Corporation, headquartered in Indiana, PA, is a financial services company with 119 community banking offices in western and central Pennsylvania and throughout Ohio, as well as business banking centers in Pittsburgh, Pennsylvania, and Canton, Cincinnati, Cleveland and Columbus, OH.  First Commonwealth provides a full range of commercial banking, consumer banking, mortgage, wealth management and insurance products and services through its subsidiaries First Commonwealth Bank and First Commonwealth Insurance Agency.

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