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CRESTMARK BANK NAMES JAMES ROTHMAN GROUP PRESIDENT

CRESTMARK BANK NAMES
JAMES ROTHMAN GROUP PRESIDENT

Top Finance Executive
to Head East Coast Region and Develop
Specialty Finance Division for the Staffing Industry

West Palm Beach, FL – June 3, 2009 – Crestmark Bank, a nationally recognized provider of working capital solutions to small and mid-sized businesses, has named James Rothman as Group President to head its East Coast region and establish a national specialty finance division dedicated to the staffing industry. Rothman brings more than 25 years of experience as an innovator in asset-based financial services receivable financing, recently as president of Capital TempFunds, one of the largest national lenders specializing exclusively in the staffing industry. He is a frequent author and speaker for the finance industry and national staffing industry trade publications and events.
Established as an FDIC-insured bank in 1996, Crestmark Bank specializes in helping companies across the country with special financing needs that may be outside of traditional bank financing capabilities. Crestmark has a wide array of working capital and specialty finance products, including traditional asset-based lines of credit — both borrowing base certificate facilities and ledgered ABL facilities — and recourse factoring, traditional factoring, transportation finance, and government receivable finance; and makes a move to augment their current staffing capabilities with the launch of their staffing services finance group called Crestmark Temp Funds, a Crestmark Bank Company, Member FDIC.
“Jim has used his asset-based lending background to successfully build several portfolios over the years, including most recently that of Capital TempFunds. He has an unsurpassed track record as a leader, relationship builder, and solutions innovator,” said Crestmark Bank Executive Vice President Barry Essig. “His expertise and creativity in looking at the financial needs of clients and structuring customized strategies to help them grow and prosper is an enormous asset in bringing our East Coast region to the next level. His outstanding reputation in the staffing market as one of the best known lenders in the niche will certainly drive our new staffing division’s success.”
During his 15 years at Capital TempFunds, Rothman guided the company’s growth from a small lender and back-office services provider to a staffing-industry leader in payroll funding, asset-based lines of credit, acquisition financing, and financing to support workers’ compensation insurance needs of staffing industry clients.
“I am excited about joining a bank that has a true entrepreneurial spirit. The most rewarding aspect of my career is seeing clients grow and prosper and knowing I played a role in helping them achieve their goals. Over the years, we have helped several companies grow from being virtually start-ups to develop into companies with hundreds of million in sales. Having a full array of asset-based products to work with is very exhilarating and being asked to spearhead Crestmark Bank’s expansion into the staffing industry represents an opportunity to repeat my previous success,” said Rothman. “I look forward to providing the kind of responsive, customized funding solutions that are a strong suit of Crestmark Bank.”
Crestmark Bank is headquartered in Troy, Michigan, with regional offices in Florida, Tennessee and Louisiana; sales offices located in Arizona, California, Georgia, Illinois, New York, Ohio, and Texas. For more information, visit www.crestmark.com. Mr. Rothman can be reached at (561) 833-7006 ext.119 or jrothman@crestmark.com
 

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