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Torkelson Joins First Merchants to Launch ABL Group

October 06, 2015, 07:57 AM

James E. Torkelson recently joined First Merchants Corporation as Manager – Structured Finance. In this role, Torkelson will be responsible for building out the bank’s marketing efforts for leveraged lending to private equity firms in Chicago and building an asset-based lending group.  He has opened an office for First Merchants Corporation in Chicago.

With more than 25 years of experience in providing asset-based, cash flow, and junior secured/second lien financings, Torkelson is a 1987 Northwestern University graduate who holds an MBA in accounting and finance from University of Chicago School of Business. Prior to joining First Merchants, he served as Managing Director, Commercial Finance Division for MUFG Union Bank, N.A., the US banking entity of The Bank of Tokyo-Mitsubishi, which includes the retail operations of Los Angeles-based Union Bank, N.A. He also served as Senior Vice President, First Midwest Bank and Senior Vice President and Region Manager for PNC Business Credit, a division of PNC Bank, N.A.

“We are incredibly fortunate to have someone of Jim’s experience and leadership in the banking industry join First Merchants,” said Joe Peterson, director of debt capital markets and structured finance at First Merchants Corporation. “His insight and expertise in leveraged lending and asset-based lending make him an invaluable addition to our organization at this time of great growth.”

First Merchants Corporation is a financial holding company headquartered in Muncie, IN. The Corporation is comprised of First Merchants Bank, N.A., which also operates as Lafayette Bank & Trust, Commerce National Bank, and First Merchants Trust Company as divisions of First Merchants Bank, N.A.

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