Marlin Business Services Corp. provides equipment financing solutions primarily to small and mid-sized businesses in the United States. The company finances approximately 100 categories of common-use commercial equipment to the small and mid-sized business customer, including copiers, computers and software, security systems, telecommunications equipment, and certain commercial and industrial equipment. The company accesses its end user customers primarily through origination sources consisted of its existing network of approximately 10,800 independent commercial equipment dealers, various national account programs, and through direct solicitation of its end user customers and through relationships with select lease brokers. As of December 31, 2012, the company serviced approximately 69,000 active equipment leases for approximately 58,000 small and mid-sized business customers. It focuses primarily on the segment of the market consisted of the small and mid-size independent equipment dealers. As of December 31, 2012, the company had processed approximately 799,000 lease applications and originated approximately 334,000 new leases. Through the issuance of Federal Deposit Insurance Corporation (FDIC)-insured certificates of deposit, the company’s wholly-owned subsidiary, Marlin Business Bank (MBB), serves as the company’s primary funding source. Sales Origination Channels The company primarily uses direct sales origination channels to penetrate a multitude of origination sources in the fragmented small-ticket equipment leasing market. Supervision and Regulation As a Utah state-chartered Federal Reserve member bank, MBB is supervised by both the Federal Reserve Bank of San Francisco and the Utah Department of Financial Institutions. The company is subject to the Bank Holding Company Act and supervised by the Federal Reserve Bank of Philadelphia. The company’s wholly-owned insurance company subsidiary, AssuranceOne, is a Class 3 Bermuda insurance company, and as such is subject to the Bermuda Insurance Act 1978, as amended, and related regulations. Sections 23A and 23B of the Federal Reserve Act and applicable regulations impose restrictions on MBB that limit the transfer of funds by MBB to the company and certain of its affiliates, in the form of loans, extensions of credit, investments or purchases of assets. Significant Events In July 2013, the company and Union Bank, N.A. have formed a strategic alliance to provide financing solutions for Union Bank, N.A.'s customers throughout the United States. History Marlin Business Services Corp. was founded in 1997.
marlin business services inc
(MRLN:Consolidated Issue Listed on NASDAQ Global Select )
300 Fellowship Road
Mount Laurel, NJ 08054
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