Cambridge Savings Bank has hired two former Blue Hills Bank veterans to launch an asset-based lending business.
The bank announced yesterday that it has hired Keith Broyles and Yvonne Kizner to lead the new division. Broyles will serve as senior vice president and head of asset-based lending at the bank, while Kizner has been named senior vice president. The new business line will fall under Cambridge Savings Bank’s corporate banking division and will work closely with the full corporate lending team.
Broyles and Kizner, who each have over 25 years of experience in the ABL space, most recently established and led the ABL business line at Blue Hills Bank, has since been acquired by the parent company of Rockland Trust, who completed the transaction on April 1.
“Keith and Yvonne are a strong and experienced team with a proven track record of success in ABL, and we are thrilled about the prospective future growth that an ABL business line under their leadership will bring to our overall Commercial Banking business line,” President and CEO Wayne Patenaude said in a statement.
By launching a new ABL business line, Cambridge Savings Bank will broaden its commercial lending solutions by offering clients the ability to safely leverage their assets for maximum growth potential. Moreover, by building its new ABL business line on the foundation of Broyles’ and Kizner’s extensive inventory and accounts receivable expertise and specialized knowledge of asset values, CSB is launching its latest initiative in a manner consistent with regulatory expectations.
“We believe we will not only bring access to a market that fits in well with CSB’s existing commercial banking philosophy, but also access to a market that has been untapped by CSB thus far,” Broyles said in a statement.
“Keith and I are very collaborative and have a well-established rhythm working together in this business, and we look forward to taking what we’ve learned from our past experiences to help CSB accomplish its goal of providing family owned and privately held businesses throughout the New England area with the working capital they need to support their growth initiatives,” Kizner added.
