Lyder to build on Ascentium’s strategic approach toward connecting small businesses with essential equipment financing.
BIRMINGHAM, Ala., November 15, 2023--(BUSINESS WIRE)--Regions Bank on Wednesday announced Dave Lyder has been elevated to serve as group leader for Ascentium Capital, a division of Regions Bank that provides streamlined financing support for specialized business equipment, technology, commercial vehicles and other small-business needs.
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Dave Lyder, group leader of Ascentium Capital, a division of Regions Bank (Photo: Business Wire)
Lyder succeeds Tom Depping, who recently retired after a career spanning 40 years in equipment finance. Depping founded Ascentium Capital in 2011 to provide an industry-leading lending platform with financing and leasing options for manufacturers, distributors, resellers and franchise organizations. Ascentium began as a small-business start-up and grew to the largest independent equipment finance company in the country. Depping was instrumental in facilitating the company’s acquisition by Regions Bank in 2021.
"Through Ascentium Capital’s competitive financing solutions, and additional services from Regions Bank, our support for small businesses is stronger than ever," said Nikki Stephenson, head of Credit Products at Regions Bank. "Tom Depping’s experience and insights have been vital to positioning Ascentium and Regions as a compelling choice for entrepreneurs who rely on specialized equipment to drive business success. Dave Lyder is the ideal leader to build on Tom’s foundation of providing tailored solutions and a superior client experience."
Lyder joined Ascentium Capital in 2014 to launch a direct sales division. Through Lyder’s leadership, overall origination volume grew from $440 million in 2014 to $1.8 billion in 2022. Most recently, Lyder has served as senior vice president for sales and marketing at Ascentium, a role he began in May 2020.
Before joining Ascentium, Lyder served as senior vice president of Finance and Operations at Direct Capital. Prior to that, Lyder spent 12 years in public accounting providing auditing and consulting services to large, privately held companies. He holds a Bachelor of Science in Accounting from the University of Connecticut.
"Ascentium Capital has been instrumental in meeting client needs thanks to the vision and customer focus of Tom Depping," Lyder said. "I’m incredibly proud to continue our legacy of providing fast, flexible financing solutions that keep small businesses moving forward. Throughout each phase of our company’s history, we have never lost sight of our commitment to delivering innovative products, efficient operations and exceptional customer service."
Regions Bank offers a broad range of specialized banking capabilities for the growth and development of small businesses. Working directly with the U.S. Small Business Administration, Regions provides specialized SBA loans tailored to meet specific business needs. Regions is both an SBA Preferred Lender and one of America’s most experienced SBA lenders. Additionally, Regions launched a Franchise Lending team in 2022 to assist companies across various franchise sectors.
About Regions Financial Corporation
Regions Financial Corporation (NYSE:RF), with $154 billion in assets, is a member of the S&P 500 Index and is one of the nation’s largest full-service providers of consumer and commercial banking, wealth management, and mortgage products and services. Regions serves customers across the South, Midwest and Texas, and through its subsidiary, Regions Bank, operates approximately 1,250 banking offices and more than 2,000 ATMs. Regions Bank is an Equal Housing Lender and Member FDIC. Additional information about Regions and its full line of products and services can be found at www.regions.com.
About Ascentium Capital
Ascentium Capital, a division of Regions Bank, specializes in providing a broad range of business equipment financing, leasing, and loans across the United States. The Company’s offering is designed to benefit equipment manufacturers and distributors as well as direct to businesses nationwide. For additional information about Ascentium and its business financing products and services, please visit AscentiumCapital.com.
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