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interSTATE NET BANK Expands Auto Lending Division

August 26, 2003

Hal J. Shaffer, interSTATE NET BANK's president and CEO, announced that the Bank's Auto Financial Services Division has expanded its services to accommodate auto dealers located throughout the U.S.

 

 

Shaffer stated that ISNB's goal to be a full service lender, and the increasing numbers of other banks and finance companies retreating from the auto lending market, account for the decision to increase interSTATE NET BANK's Auto Lending Division.

 

 

In addition, stated Shaffer, "Many of the banks and finance companies that still offer auto lending services usually specialize in one area of the auto lending credit spectrum. ISNB will be offering a `one stop shopping' source for all auto dealers' customers, regardless of their prime, non-prime or sub-prime status."

 

 

Shaffer announced that Laurence Chiavaro has been hired as senior vice president of ISNB's Auto Financial Services. Chiavaro, who has held leadership positions with Household Auto Finance and management positions with GE Capital and Oxford Leasing, will be responsible for leading and supervising ISNB's Auto Lending Division's expansion. "Larry's vast experience in auto lending services, combined with his accomplishments in developing financial strategic alliances, makes him a valuable addition to ISNB and an integral part of our expansion team," says Shaffer.

 

 

For further information on ISNB's Auto Lending Services contact Laurence Chiavaro at 866.531.7010 or visit their Website at www.interSTATENETBANK.com.

 

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