2008-09-10 23:35:01 -
- First Capital, a leading financial services firm, announced that it had closed a $20 million letter of credit (LC) facility with Fifth Third Bank.
Mark Sunshine, President and Chief Operating Officer of First Capital said, "Since the credit crisis started, its not that it's been simple to obtain growth financing. But it's been easier for First Capital than it has been for most other commercial lenders." Mr. Sunshine went on to say, "Our ability to attract financing in this difficult environment is a result of the quality of First Capital's assets, strong earnings and earnings growth, and the Company's relatively low balance sheet leverage. As First Capital continues to grow I am certain that Fifth Third Bank will
be an important partner to First Capital and our clients."
Peter Mack, Managing Director of Trade Finance and International Correspondent Banking of Fifth Third Bank, said, "Fifth Third is pleased to be instrumental in supporting First Capital in expanding their client base. We are pleased to partner with First Capital to enable import Letters of Credit to be issued on behalf of its clients."
About First Capital
First Capital (www.FirstCapital.com) is a leading commercial financial services firm providing prompt, professional and reliable working capital solutions and outsourcing, primarily for middle-market companies and institutions. With over $1 billion in total committed lines, First Capital is one of the largest independent and fastest-growing commercial finance companies in the United States. The firm focuses on asset-based lending, accounts receivable management, credit protection, international supply chain financing and servicing for clients in North America and Asia. The firm also manages asset portfolios for clients and is an active issuer of receivables-backed securities. Combining a unique blend of traditional and progressive banking methods, First Capital provides clients with customized support needed to grow and maintain their business. Based out of West Palm Beach, Florida, the firm has six full-service offices in major cities including New York, Los Angeles, Ft. Lauderdale, Oklahoma City and Atlanta and a subsidiary that is headquartered in Hong Kong.
About Fifth Third Bank
Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. The Company has $115 billion in assets, operates 18 affiliates with 1,291 full-service Banking Centers, including 97 Bank Mart locations open seven days a week inside select grocery stores and 2,324 ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Pennsylvania, Missouri, Georgia and North Carolina. Fifth Third operates five main businesses: Commercial Banking, Branch Banking, Consumer Lending, Investment Advisors and Fifth Third Processing Solutions. Fifth Third is among the largest money managers in the Midwest and, as of June 30, 2008, has $207 billion in assets under care, of which it managed $31 billion for individuals, corporations and not-for-profit organizations. Investor information and press releases can be viewed at
www.53.com. Fifth Third's common stock is traded on the NASDAQ(R) National Global Select Market under the symbol "FITB."
Linden Alschuler & Kaplan
Suzanne Dawson, 212-329-1420
sdawson@lakpr.com 
