January 4, 2013
To our customers, business partners and colleagues:
May 1, First American became a wholly owned subsidiary of City National Bank (NYSE: CYN), the 26th largest bank in the U.S., with more than $26 billion in assets. After eight months of getting to know our new colleagues at City National Bank, I can confirm that we joined an outstanding,
innovative and customer-focused organization.
Over many decades, City National Bank's leadership has forged a unique corporate culture of trust, loyalty and professionalism. First American is honored to be a very small part of a truly great company. Given the expanded resources and freedom we have been generously granted by our new parent, we understand that the burden is now ours to demonstrate our character by meeting or exceeding our commitments. Nothing will stop us from doing so.
my pleasure each year to cite some of the awards earned by First American colleagues. First American was recognized on the Inc. magazine list of the fastest growing private companies in the U.S.1 for the 8th and final time, before becoming part of a public company in May. On May 1, First American was named the #1 Best Company to Work For in New York
State.2 This recognition is especially meaningful, because it is based on independent
surveys completed by First American employees. I learned last week that First American is again a finalist for the same Best Company honor in 2013. The new number 1 company will be selected and
announced in April 2013.3
I have worked with many of the professionals at First American for well over a
decade. And I have come to know many of the bright, talented professionals who have joined First American more
recently. I want my colleagues at First American to know that I have no doubt about your commitment to what we are
building. Your loyalty has been evidenced by doing whatever it takes over many days, weeks, months and years. I have no greater professional responsibility than to live up to the loyalty and dedication that you have already
demonstrated. And I am honored to work with each of you, every day.
we are building is only important to the extent that it enables us to better
serve our valued customers -- who are the sole
reason for our existence. The new
ownership structure will allow us to serve our customers better than ever
before. In the coming months, our customers
will see additional investment in the specialized markets we serve. They will also see additional product
offerings and new services. Some things won't change ... our commitment to
concierge service, straightforward, customer-friendly paperwork, complete
transparency and integrity in everything we do.
For more than a decade, we have been fortunate to serve many of the largest and most sophisticated commercial borrowers throughout all fifty states. To our valued customers, please know that we will continue to do whatever it takes to exceed your highest expectations. We understand that you can finance your capital equipment with anyone. And we will never take for granted the confidence you have placed in us.
Thank you for your continued support.
Bill Verhelle, CEO
© 2000-2012 First American Equipment Finance All rights reserved. Member, Equipment
Leasing and Finance
Association, United Association of Equipment Leasing, and American Bankers Association.