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First State Bank selling commercial leasing division.(Business)
Byline: Sherry Robinson srobinson@abqtrib.com / 823-3632
First State Bank is selling its commercial leasing division, First Capital Group. The buyer is First Banks, a bank-holding company in St. Louis with assets of $4.9 million.
First State expects to close the deal this quarter.
First Capital Group, organized in 1995, has total leases of about $63 million.
"First Capital Group has been a great complement to our commercial lending operations," said Michael R. Stanford, president and CEO of First State.
"With leases in several states, First Capital allowed us to supplement our loan portfolio through periods of slower demand in our …
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