Imperial Bank Purchases $9 Million Lease Portfolio From Anacomp Inc
SAN DIEGO--(BUSINESS WIRE)--Dec. 16, 1999--Imperial Bank, the principal subsidiary of Imperial Bancorp (NYSE:IMP), recently announced that its Equipment Leasing Division has purchased a $9 million lease portfolio from San Diego-based Anacomp(R) Inc. (Nasdaq:ANCO), a world leader in digital document-management services.
Imperial Bank provided a two-week turn-around on the $9 million portfolio purchase.
"Anacomp requested a quick turn-around on the transaction. Everyone involved at Imperial and Anacomp worked together to make that happen in less than two weeks," said Toby Schramm, vice president/commercial banking officer at Imperial Bank.
The portfolio of 45 leases range in amounts from $50,000 to $2 million and provide financing for Anacomp's document-management equipment.
"Imperial Bank went above and beyond the call of duty to help us meet an important deadline. They exceeded our expectations with their ability to immediately review our documents, make a solid decision, and process our lease transaction," said Tom Brown, Anacomp's vice president and treasurer.
"Our relationship with Anacomp exemplifies Imperial's commitment to meet our clients' business needs," said Dino D'Auria, Imperial's San Diego regional vice president.
Anacomp images more customer documents than anyone else in the world. The company is a leading provider of digital document-management outsource services, field maintenance services, and document-management systems and supplies. For more information, visit Anacomp's Web site at www.anacomp.com. |
