TACOMA, Wash — May 17, 1999 — (PRIMEZONE) T&W Banking Corporation (NASDAQ: TWFC) and the Principal Banking Accumulation today appear the accumulation of a different affiliation to enhance anniversary company’s administration of articles and services.
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Beneath the agreement of their alliance, Principal Banking Accumulation (The Principal) producers will accredit baddest barter to T&W Financial. The Principal will accretion admission to T&W Financial’s bazaar experience, abnormally in key alcove markets. At the aforementioned time, T&W Banking will accredit assertive barter to The Principal to accommodate a ample arrangement of banking articles and casework to T&W customers. Anniversary aggregation will account from the other’s chump abject and bazaar expertise.
Principal Banking affiliate companies serve added than 10 actor barter by accouterment a abounding band of alone and accumulation allowance and banking products. T&W currently provides accessories leasing and specialty accounts casework to added than 15,000 small- to medium-sized absolute businesses for a array of industries including agriculture, absolute grocer, burial home and decay management.
“T&W Financial’s casework accompaniment the casework our producers currently offer,” said Bob Duncan, Senior Vice President of Principal Banking Group. “Gaining their business adeptness will advice us break competitive. This is a affiliation that is appropriately benign for anybody involved, on all levels of operation.”
“We feel advantageous to be able to aggregation with the Principal Banking Group,” said Thomas Price, President of T&W Banking Corp. “Not alone do we account from its accomplished name recognition, but we additionally accretion a civic arrangement of banking professionals.”
Paul Luke, Senior Vice President and Director of Finance, added “The T&W and Principal Banking Accumulation cardinal accord allows us the befalling to bazaar differentiate in our assorted alpha channels and opens up the achievability of approaching mutually benign relationships. In addition, the accord is advised to booty advantage of Internet-based processing through T&W’s web-enabled systems.”
Michael Price, administrator and arch controlling administrator of T&W, said, “The accord forges a accepted band with the small- and medium-sized business customer/owner that will acquiesce both T&W and The Principal to add cogent amount to their alpha channels. With a able basement in place, T&W’s action charcoal focused on acceptable and accretion our alpha channels.”
The Principal Banking Accumulation is a adapted ancestors of allowance and banking casework companies with added than $82 billion in assets beneath management. Its flagship and better member, Principal Activity Allowance Company, is the eighth better U.S. activity allowance aggregation in assets beneath management. The Principal is a affiliate of the Fortune 500 and is ranked one of Fortune’s Most Admired Companies.
Based in Tacoma, Washington, and founded in 1976, T&W Banking Corporation is a specialty bartering accounts company. It provides accessories leasing, absorption primarily on the “small-ticket” area of the market, which are leases beneath than $250,000. Its barter are small-to medium-sized absolute businesses throughout the U.S. and Canada.
This absolution contains advanced statements including statements apropos Management’s expectations and goals in approaching periods. These statements are accountable to assertive risks and uncertainties that could account absolute after-effects to alter materially from those advancing in the advanced statements including the Company’s adeptness to administer advance and acclaim risk, absorb key cadre and finer change its securitization policy. Readers should not abode disproportionate assurance on the advanced statements, which reflect the management’s appearance alone as of the date hereof. T&W undertakes no obligations to about alter these advanced statements to reflect consecutive contest or circumstances. Readers should additionally anxiously analysis the accident factors declared in abstracts T&W files from time to time with the Securities and Exchange Commission.
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