Press Release
Lease Corporation of America
Phone: 800.800.8098 • Fax: 800.736.0218
3150 Livernois Road, Suite 300, Troy, MI 48083
www.leasecorp.com • Email: marketing@leasecorp.com
LCA Bank Corporation Receives $2.7 Million of Capital From Small Business Lending Fund
Troy, Michigan and Park City, Utah – LCA Bank Corporation (the “Company”), the wholly
owned subsidiary of Lease Corporation of America (LCA), of Troy, Michigan, today announced that it has received an investment of $2.7 million in the Company’s preferred stock from the United States Department of the Treasury (the “Treasury”) under the Small Business Lending Fund (the “SBLF”).
The SBLF, which is part of the Small Business Jobs Act of 2010, is a $30 billion voluntary program intended to encourage small business lending by providing capital to qualifi ed community banks at favorable rates.
“As a strong financial institution, our Company has been chosen to participate in this important
program. We are pleased to have completed the SBLF capital infusion in support of our small business lending operations,” commented John B. Kemp, Chairman of the Board of the Company. Mr. Kempadded, “We believe our participation in the SBLF program is a great opportunity for the Company tocontinue to meet the credit needs of the small business community, and help the U.S. economy return to a path of sustainable growth.”
Mr. Kemp continued by saying that he wanted to thank “all of those who played a vital role in the satisfactory conclusion of this transaction.
In particular we would like to thank our U.S. CongressmanGary C. Peters for his leadership role in Congress in the drafting and the approval of the SBLF whichmade all of this possible.” Mr. Kemp further observed that “the Treasury and the regulatory agencies
(Utah Department of Financial Institutions and the Federal Deposit Insurance Corporation) worked extremely well with each other and were most helpful and responsive which allowed for the timely andsuccessful conclusion of our transaction.”
LCA, founded in 1988, is a full service commercial leasing and fi nance company. It provides financing solutions for vendors of equipment, and funding for select lease originators while delivering quality
financial assets to financial institutions and other investors throughout North America. According to the trade publication Monitor, as of December 31, 2010, LCA was the 13th largest independently owned leasing company and the 97th largest leasing operation overall in the United States. Also,according to Bauer Financial Inc.’s 2011 publication “Top 100 Banks”, as of December 31, 2010, LCA
Bank Corporation was approximately in the upper 1% of all banks in the United States based upon
Return on Average Assets.
September 6, 2011
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