Horizon Bank chose Joel Mikolich to lead its new equipment finance division.
The new division will target small- to medium-sized businesses looking to finance business equipment.
“The entry into this business line strategically aligns with Horizon’s stated goal to continue to diversify our business model and revenue streams,” said Lynn Kerber, chief commercial banking officer, in a press release. “We believe the success of this new division will be propelled by Horizon’s core commercial banking business that has served as trusted advisors to the unique financial needs of diverse industries for 150 years.”
She said Mikolich’s experience is the right fit for the bank’s new division.
“This foundation, coupled with the experienced leadership brought by Joel, will provide new and flexible financing solutions to our customers, while providing an additional revenue stream for the bank to help maximize shareholder value,” she said.
Mikolich has 20-plus years of experience helping banks grow into the equipment finance industry.
“I am excited to leverage my industry network and experience to build out a team that shares my passion for providing customer-centric financing solutions that can be supported by the lending capacity of an established financial institution like Horizon Bank,” Mikolich said.
The bank plans to round out the team and its originations platform by the end of the year, and have the division ready to serve customers by early 2024.
Michigan City-based Horizon Bancorp Inc., which is celebrating 150 years of business, is the holding company for Horizon Bank.