Flatiron Credit Co.

Revenues:	$8.4 Million
Employees:	65

Description

Flatiron Credit Company was formed in April of 1995 with a single objective: to be the premier premium finance partner to insurance agents, general agents and insurance companies. Our only business is providing financing of insurance premiums. This focus provides a clarity of purpose and a high level of quality and efficiency in the services we deliver to our clients. We have been headquartered in Denver, Colorado since our inception. We provide funding on a direct basis to insurance producers and their insureds, and on an indirect basis through premium finance companies which are affiliates of insurance agents, general agents, insurance companies. We also partner with various state associations of the Independent Insurance Agents and the Professional Insurance Agents.

In 2003, Flatiron was acquired by Hudson United Bank. Hudson United Bank, a division of TD Banknorth, N.A. has added its extensive financial resources to provide Flatiron with the long-term funding capacity and efficiency to achieve its objectives in meeting our clients' and their insureds' premium finance needs at the highest levels.

Flatiron's founders are Bob Pinkerton and Bruce Lundy. Mr. Pinkerton's prior experience includes investment banking and serving as a senior financial officer at various specialty finance entities. Mr. Lundy's prior experience includes serving as an investment banker to several premium finance companies and as a senior officer, partner and director of Newman and Associates, a Denver-based investment banking firm which was also a founding sponsor in the formation of Flatiron. Mr. Lundy and Pinkerton continue to manage Flatiron and believe the success of Flatiron has always been driven by its team of extraordinary professionals.

In August of 1999, Flatiron acquired 100% ownership of Westchester Premium Acceptance Corporation from The St. Paul Companies. Westchester has a longstanding history in financing insurance premiums in Texas and the surrounding states and operates Flatiron's branch San Antonio office.

Highly instrumental in Flatiron's growth was Warburg Pincus, a market-leading private equity company based in New York, which provided substantial growth equity to Flatiron beginning in 1997. During the time Warburg Pincus was our primary investor, Flatiron was greatly assisted by the contributions of our former Chairman, Thomas A. Cooper, a former President of Bank of America and a former Vice Chairman of Mellon Bank, and who now is an informal advisor to Flatiron. Among Flatiron's many accomplishments during this period was the execution of a commercial paper facility, which was rated "AAA/Aaa" by the major rating agencies and used to fund Flatiron's portfolio.

Flatiron, through its dedicated personnel and corporate culture of exceeding our clients' expectations, continues its growth and remains dedicated to providing innovative solutions and market - leading service to our clients and partners.