First Federal Bank Announces New Equipment Finance Business Line

LAKE CITY, Fla., April 10, 2023 /PRNewswire/ -- First Federal Bank announced the initiation of a Corporate Equipment Financing line of business, as the most recent addition to the Capital Solutions division. An elite team has been engaged to specialize in multimillion dollar equipment financing. First Federal Bank's expanded offering will support customers in our community banking markets as well as nationwide. Customers will now have access to equipment financing solutions across a broad range of industries and collateral types; this is in addition to the extensive commercial lending options including SBA and USDA loans, structured real estate transactions, and other specialized lending solutions.

The new team will be led by industry veteran, William (Bill) Badgio. With over 30 years of experience, Bill has most recently been responsible for all originations and portfolio management of an Equipment Finance unit. His experience and financial acumen facilitate bringing First Federal Bank together with other capital providers including banks, captive finance organizations, independent leasing companies, as well corporations within the Bank's geographic footprint, to provide financing solutions for essential use equipment. "I am very excited to join the First Federal Bank team as we look to bring our expertise to help support the vast capital expenditure requirements within the equipment finance industry."

John Medina, President and CEO, welcomes the new team. He shares "Our mission is to remain a financially stable institution providing Capital Solutions to existing customers and new corporate clients. This addition to our commercial lending emphasizes our commitment to our customers and developing unique solutions to meet all their needs. We look forward to serving the Equipment Finance customers with FFB's personalized and friendly service."

As a community-based mutual institution headquartered in Lake City, FL, the bank is owned by its customers rather than stockholders, and has 25 branches in the Southeast and operations in the Midwest. "Offering Equipment Finance to new and existing First Federal Bank clients benefits the customers and continues the portfolio diversification that is paramount to our stability," says Robert Tuberville, Chief Lending Officer.

About First Federal Bank

First Federal Bank is a community-based bank offering consumer and commercial banking solutions, services, and loans through banking offices in Florida's Panhandle, North Central and East Florida, and coastal South Carolina. Mortgage, SBA and USDA customers are served through lending offices across the Southeast and Midwest. First Federal is headquartered in Lake City, Florida with assets totaling over $3.6 billion. First Federal has received a "5-Star, Superior" financial rating from BauerFinancial, Inc., of Coral Gables, Fla. for more than two decades and was recognized by Newsweek as "Best Small Bank in Florida" in 2020, 2021, 2022 and 2023. For more information, visit www.ffbf.com.

SOURCE First Federal Bank