GreatAmerica completes Heritage Bank acquisition
Lender rebrands to GreatAmerica Bank National Association after securing charter
GreatAmerica Holdings has completed its acquisition of Heritage Bank and launched GreatAmerica Bank National Association after securing final regulatory approval.
GreatAmerica is now among a small number of independent equipment finance companies operating under a national bank charter, according to a GreatAmerica release today. Terms of the deal were not disclosed.
“We’re not becoming a bank to change who we are. We’re becoming a bank because we believe in where we’re going,” Chief Executive Martin Golobic stated in the release. “For 34 years, we’ve built this company by taking care of customers, building strong relationships and playing the long game. Becoming a bank makes us stronger and gives us greater flexibility to invest in our future. That translates into more opportunities for our customers, our employees and the communities that have supported us along the way.”
Founded in 1992 as a small-ticket leasing company serving the office imaging industry, Cedar Rapids, Iowa-based GreatAmerica has expanded into a diversified financial services firm serving sectors including technology, healthcare, construction and automotive.
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