Cass Commercial Bank has formed a new division focused on financing equipment purchases for businesses, not-for-profit organizations and municipalities through capital and municipal leases. Recruited to lead the new division is George Hoeffner, senior vice president.
Consistently ranked among the top-performing banks in the country, Cass Commercial Bank is a subsidiary of Cass Information Systems, Inc., (NASDAQ: CASS), a leading national provider of transportation, energy, telecom and waste invoice payment and information services.
Hoeffner joins Cass with 28 years of experience in equipment finance, the last six spent with Central Bank of St. Louis where he launched its equipment finance group. He previously founded Starboard Capital Group, Inc., an entity that marketed loan and lease products to middle market companies.
As an area commander for Operation Brightside, Hoeffner organized the effort to improve and beautify the Gate District in the City of St. Louis and served as president of the district’s board. He has also been a volunteer and lector at the Old Cathedral of St. Louis since 1991.
Hoeffner earned his bachelor’s degree in business administration and finance from the University of Missouri – Columbia.
Founded in 1906 in St. Louis, Cass Commercial Bank is a member of the Federal Reserve. It focuses on fulfilling the financial needs of privately held businesses, faith-based institutions and other nonprofits. It is a wholly owned subsidiary of Cass Information Systems (NASDAQ: CASS), a public company with $1.6 billion in assets.
Cass Information Systems, Inc. is a leading provider of integrated information and payment management solutions. Cass enables enterprises to achieve visibility, control and efficiency in their supply chains, communications networks, facilities and other operations. Disbursing over $60 billion annually on behalf of clients, and with total assets of $1.6 billion, Cass is uniquely supported by Cass Commercial Bank. Founded in 1906 and a wholly owned subsidiary, Cass Bank provides sophisticated financial exchange services to the parent organization and its clients. Cass is part of the Russell 2000.