City National Bank to Acquire First American Equipment Finance

City National Bank today announced that it has entered into a definitive agreement to acquire First American Equipment Finance, a privately owned, full-service mid-ticket equipment leasing company that owns and services approximately $325 million in assets. Headquartered in Rochester, New York, First American Equipment Finance leases technology and office equipment nationwide. Its clients include educational institutions, hospitals and health systems, large law firms, insurance underwriters, enterprise businesses, professional service businesses and nonprofit organizations. The company employs approximately 100 people. Its lease transactions typically range between $250,000 and $3 million.