Mark Matheson Named Chief Credit Officer; Matt Barbuscak and Ray Morandell Named to Executive Committee

For Immediate Release January 11, 2011

Contact: Lisa Beattie
Phone: 248-267-1639

In a move to strengthen their support of businesses obtaining asset-based lending, Crestmark is pleased to announce the promotion of Matheson to Chief Credit Officer; and Barbuscak and Morandell to the Executive Committee. W. David Tull stated, “Crestmark has had serious growth and has extended our reach to help businesses in need. These promotions reward the people who have been instrumental in helping us achieve our expansion. We are sure that these promotions will help us realize future growth, and we congratulate each on their success.”

Mark Matheson, Senior Vice President, has been promoted to the role of the Chief Credit Officer for the entire Crestmark network of companies. He takes this role over from Jack R. Roper, who continues as Troy/Midwest Region Group President. Matheson also is a new member of the Crestmark Executive Committee. He was most recently Chief Risk Officer for Crestmark, and has held several credit positions since starting with Crestmark in 2002. His commercial finance experience ranges over 22 years, including positions with National Bank of Detroit, Huntington Bank and GMAC Commercial Finance. Matheson has a finance degree from Central Michigan University and master’s degree from Walsh College. “This is a great role for Mark, and will allow me to focus my attention solely on the continued growth of the Troy Region, and to ensure that we continue to make a difference in helping businesses in need,” said Jack R. Roper.

Matt Barbuscak, First Vice President, has been approved as a member of the Executive Committee. Matt recently accepted the role of Operations Manager at Crestmark’s Troy/Midwest Corporate Office. Barbuscak, with over 25 years of commercial finance experience, has been with Crestmark since 2004 in various credit roles, most recently as Troy Region Portfolio Manager. He previously worked at Standard Federal Bank and National Bank of Detroit. Barbuscak has an MBA from the University of Michigan.

Ray Morandell, Senior Vice President, Sales Manager of Troy/Midwest region and the Nashville transportation finance office, has been approved as a member of the Crestmark Executive Committee. Morandell started with Crestmark in 2008 and has over 25 years of industry experience in factoring and asset-based lending. Morandell was previously National Sales Manager at Textron Financial, has a B.S. in Economics from Allegheny College, a M.S in Finance from the University of Delaware, and a graduate degree in banking from the Stonier Graduate School of Banking.

Crestmark is a nationally recognized provider of working capital solutions for small- to medium-sized businesses.  Financing solutions include asset-based lending, accounts receivable financing and factoring.  Headquartered in Troy, Michigan, with regional offices in Florida, Louisiana and Tennessee; sales offices located in Alabama, Arizona, California, Florida, Illinois, New Jersey, New York, Ohio, Missouri, North Carolina and Texas.