Celtic Bank Blog

OCT
06

TREVOR RAWLINGS JOINS CELTIC BANK LEASING & EQUIPMENT FINANCE GROUP

TREVOR RAWLINGS JOINS CELTIC BANK LEASING & EQUIPMENT FINANCE GROUP
SALT LAKE CITY (October 6, 2015) — Celtic Bank is pleased to announce that Trevor Rawlings has joined the organization as Vice President of the newly established Celtic Bank Leasing & Equipment Finance Group. Trevor will be based in Salt Lake City, Utah. Trevor joins Celtic Bank with over 16 years of experience in the banking and finance industry. Most recently, Trevor served as Vice President of Credit at Continental Bank where he was responsible for underwriting, structuring and funding commercial and industrial loans and leases. “Celtic Bank takes a realistic and unique approach to lending,” said Trevor. “I look forward to joining a team of entrepreneurial thinkers who are open to new ideas for financing small businesses. The addition of the Celtic Bank Leasing & Equipment Finance Group allows us to provide additional equipment financing solutions to small businesses throughout the nation.” “I have worked with Trevor for a number of years and am excited to bring him on board,” said Michael Fosmark, President of Celtic Bank Leasing & Equipment Finance Group. “Trevor has an extensive background in equipment leasing and finance. He understands all aspects of the business and is able to structure deals to meet the needs...
OCT
01

CELTIC BANK NAMES MICHAEL FOSMARK AS THE PRESIDENT OF CELTIC BANK LEASING & EQUIPMENT FINANCE GROUP

CELTIC BANK NAMES MICHAEL FOSMARK AS THE PRESIDENT OF CELTIC BANK LEASING & EQUIPMENT FINANCE GROUP
SALT LAKE CITY (October 1, 2015) — Celtic Bank is pleased to announce that Michael Fosmark has joined the organization as President of the newly established Celtic Bank Leasing & Equipment Finance Group. Michael will be based in Salt Lake City, Utah. Michael joins Celtic Bank with over 30 years of experience in banking and over 12 years of experience as the President of Continental Bank, a Utah commercial bank specializing in leasing and equipment finance. “I have known Reese for quite some time and have been impressed with the organization that has been built through his leadership,” said Michael. The Bank is open to new ideas and the credit culture is a good fit for a leasing product. The synergy at the Bank supports an alternative line of business.” “We are very fortunate to have Michael join our organization,” said Reese Howell Jr., CEO of Celtic Bank. “Michael is a well-respected leader with extensive experience helping business owners obtain the financing they need to grow their business. As we enter this new chapter, I am confident in Michael’s ability to deliver new funding options to small business owners across the country.” Michael holds a Bachelor’s degree in Organizational Communications...
SEP
15

TIMOTHY MCGOFF JOINS CELTIC BANK AS CHIEF BUSINESS DEVELOPMENT OFFICER

TIMOTHY MCGOFF JOINS CELTIC BANK AS CHIEF BUSINESS DEVELOPMENT OFFICER
SALT LAKE CITY (September 15, 2015) — Celtic Bank is pleased to announce that Timothy J. McGoff has joined Celtic Bank as its Chief Business Development Officer. Tim will be based in San Diego, California but will spend a considerable amount of time traveling as he manages the bank’s business development initiatives nationwide.  Tim joins Celtic Bank with more than 20 years of experience in business channel development, SBA and commercial lending, team management and technology enabled processes. Most recently, Tim worked for US Bank as a Vice President focused on strategic alliances, marketing and business support services. Prior to US Bank, Tim worked for New York-based Business Loan Express, LLC as Vice President of Internet Channel Sales. “I am excited to come to a Bank that exudes the same level of entrepreneurial spirit as the small business owners it finances. I look forward to extending the strong pace of growth Celtic Bank has achieved over the past few years,” said Tim.  “I couldn’t be more pleased that Tim has made the choice to join Celtic Bank as its new Chief Business Development Officer,” said Reese Howell Jr., CEO of Celtic Bank. “Tim is a very talented individual and I...
AUG
26

Celtic Bank Facilitates Multiple Commercial Renewable Energy Projects

Celtic Bank Facilitates Multiple Commercial Renewable Energy Projects
SALT LAKE CITY (August 26, 2015) — Celtic Bank is pleased to announce that it recently facilitated several small to mid-scale commercial solar renewable energy projects supported by 20-25 year power purchase agreements. Funds for the projects will be used by businesses to install solar panels for distributed generation, community solar, and to sell excess energy back to the local electric utility. The projected energy production from these solar facilities is equivalent to eliminating CO2 emissions from 10,974,105 pounds of burned coal or 1,149,645 gallons of used gasoline over a year’s time. Since January 2015, Celtic Bank has facilitated approximately $43,000,000 in renewal energy projects in Arizona, California, Colorado, Hawaii, Massachusetts, and New Jersey. While utility-scale solar and residential solar have thrived, mid-scale commercial solar projects have trailed behind in recent years. Historically, it has been difficult for developers of small to mid-scale commercial solar projects to obtain financing due to high third party costs, a lack of standardization, and unconventional risk profiles. Celtic Bank has addressed this need by primarily focusing on financing solutions for commercial projects ranging from 350 kilowatts to 2 megawatts in size with project prices from $1,000,000 to $5,000,000. Host facilities include a wide variety...
JUL
14

ADAM CHENG JOINS CELTIC BANK’S SBA LENDING TEAM

ADAM CHENG JOINS CELTIC BANK’S SBA LENDING TEAM
  Salt Lake City, UT (July 14, 2015) — Celtic Bank is pleased to announce that Adam Cheng has been hired as Vice President of Business Development in the bank’s SBA and Commercial Lending Department.  Adam will be based in Houston, Texas. Adam joins Celtic Bank with more than 10 years of SBA and commercial lending experience.  Adam began his banking career as a Credit Analyst for a community bank in Houston, Texas.  Most recently, Adam worked as a Vice President/SBA Marketing Manager for an independent community bank in Atlanta, Georgia. “Celtic Bank as a business entity is in high growth mode, which is the main reason I want to join this winning team,” said Adam.  “I believe my future prospects at Celtic Bank will be both rewarding and exciting.” “Adam’s background in SBA and commercial loan underwriting and business development makes him a valuable addition to our team,” said Chris Nalley, Senior Vice President of SBA Lending at Celtic Bank.  “We are excited to have Adam on board and look forward to increasing our SBA loan production in the Greater Houston area.” Adam holds a Bachelor’s degree in Business Management from California Polytechnic State University, an MBA from Arizona...
JUL
02

DANA T. MCGILL JOINS CELTIC BANK’S SBA LENDING TEAM

DANA T. MCGILL JOINS CELTIC BANK’S SBA LENDING TEAM
Salt Lake City, UT (July 2, 2015) — Celtic Bank is pleased to announce that Dana T. McGill has been hired as Vice President of Business Development in the bank’s SBA and Commercial Lending Department.  Ms. McGill’s primary responsibility will be to increase the bank’s SBA loan production in the Greater New York area.  She will be based in Hoboken, New Jersey. Before joining Celtic Bank, Ms. McGill was a Senior Manager at AIG in New York City where she worked on the CCAR Central Reporting Team whose focus was on developing and implementing a robust Comprehensive Capital Analysis & Review (CCAR) process for the company.  Prior to AIG, Ms. McGill worked in Global Treasury at American Express where her primary role was supporting the funding, liquidity, capital and asset/liability management needs for American Express Bank, FSB and Centurion Bank.  In 2012, she was named a CFO Pinnacle Award Winner by the American Express Global Finance organization.  Ms. McGill holds a Bachelor’s degree in Finance and Economics from Utah State University and an MBA from Westminster College. “We are excited that Dana has decided to join our nationwide SBA lending team,” said Christy Lester, Senior Vice President of SBA Lending...
JUL
01

Celtic Bank Announces First PACE Funding in the State of Utah

Celtic Bank Announces First PACE Funding in the State of Utah
Salt Lake City, UT (July 1, 2015) — Celtic Bank is pleased to announce that it has funded the first commercial project utilizing PACE in the state of Utah. Proceeds from the bond issuance will be used by Hunt Electric to construct a solar canopy utilizing smart grid technology at their offices in West Valley City, UT. Celtic Bank worked in conjunction with Hunt Electric, Utah Clean Energy, and the Governor’s Office of Energy Development to bring the PACE funding structure to Utah.   “Celtic Bank has made a commitment to investing in renewable energy projects; we are actively investing in projects across the country utilizing a number of different funding structures. PACE is a structure we have worked with in other states and we are excited to be a part of bringing it to Utah.” said Jake Barney, Chief Financial Officer of Celtic Bank.      PACE (Property Assessed Clean Energy) is a unique financing vehicle offered by local governments in states with PACE enabled legislation.  PACE allows property owners to finance 100% of the costs for up to 20 years to make energy efficient upgrades or renewable energy updates to their buildings. Because of the attractive terms available...
JUN
30

Michael Johnson Joins Celtic Bank's SBA Lending Team

Michael Johnson Joins Celtic Bank's SBA Lending Team
Salt Lake City, UT (June 30, 2015) — Celtic Bank is pleased to announce that Michael A. Johnson has been hired as Vice President of Business Development in the bank’s SBA and Commercial Lending Department.  Johnson will be based in Raleigh, North Carolina. Johnson joins Celtic Bank with more than 25 years of experience in the financial services industry.  Johnson began his career as a consultant for a mortgage banking and real estate company in New York.  Most recently, Johnson worked as an independent commercial loan broker originating SBA 7(a) and 504 loans for small business owners throughout the country.  “Over the past several years, I have had the opportunity to work with Celtic Bank on numerous occasions.  I have always been impressed with the Bank’s operational structure and levelheaded approach to underwriting.” said Johnson.  “I am thrilled that Michael has joined our nationwide SBA lending team,” said Christy Lester, Senior Vice President of SBA Lending at Celtic Bank.  “Michael’s financial services background and his experience consulting with small business owners will serve us well as he works to increase the bank’s SBA loan production.” Johnson holds a Bachelor’s degree in Broadcasting Management from Western Michigan University and an MBA...
MAY
20

Celtic Bank is Named Utah's Top Dollar Volume SBA Lender

Celtic Bank is Named Utah's Top Dollar Volume SBA Lender
Salt Lake City, UT (May 20, 2015) — Celtic Bank has been recognized by the U.S. Small Business Administration and the SBA Utah District Office as the Top Dollar Volume Lender in Utah for FYE 2014.  Celtic Bank was presented with the award during the Utah Small Business Awards luncheon hosted by the SBA Utah District Office on May 5, 2015.  Celtic Bank is currently the sixth largest SBA lender in the nation for FY 2015. “We are thrilled to receive this award,” said Wade Newman, President of Celtic Bank.  “Small business is the lifeblood of the U.S. economy and Utah continues to be one of the friendliest states in the nation for small business.  It is exciting to work for a company that is committed to helping small business owners throughout Utah and the nation to achieve their entrepreneurial dreams.  I am proud of our business development professionals, underwriters and operations teams who consistently deliver exceptional customer service to our small business borrowers.”