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Article: NewAlliance Bank Announces the Formation of a New Asset-Based Lending Business.
- Article from:
- Investment Weekly News
- Article date:
- November 21, 2009
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NewAlliance Bank, a subsidiary of NewAlliance Bancshares, Inc. (NYSE: NAL), announced the formation of a new asset-based lending business, and the appointment of Andrew H. Moser and Daniel F. O'Rourke to lead the new division. Mr. Moser will report directly to NewAlliance Chairman and CEO Peyton R. Patterson, and Mr. O'Rourke will report to the bank's Executive Vice President and Chief Credit Officer, Donald T. Chaffee.
The new line of business, called NewAlliance Commercial Finance, expands the bank's business lending offerings to include revolving lines of credit and term loans secured by accounts receivable, inventory, and other assets. NewAlliance Bank is ...