HOUSTON – Bracewell LLP represented Woodforest National Bank in connection with the sale of its asset-based and equipment finance lending businesses to Sterling National Bank, the subsidiary of Sterling Bancorp (NYSE: STL). The transaction closed on February 28, 2019.
The balance of the acquired commercial loans and leases outstanding was $495 million, with $331 million in asset-based loans and $164 million in equipment finance loans.
Additional information about the transaction can be found here.
Bracewell lawyers involved in this transaction included:
Partners: Joshua T. McNulty, William S. Anderson, K. Brock Bailey, Heather L. Brown, Daniel E. Hemli, Robert S. Nichols and Scott C. Sanders
Counsel: Jacqueline R. Java
Associates: Shannon Baldwin and Christie L. Latimer