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Ogden — TAB Bank has entered into an asset purchase and sale agreement to acquire the factoring portfolio and other related assets of Anchor Funding Services, LLC of Charlotte, N.C. In addition to Anchor’s factoring portfolio of approximately 100 clients, the acquisition includes all portfolio related assets, names, trademarks, intellectual property, domains, and sales and marketing channels.
“We are very excited to have Anchor’s clients and great reputation combined with the TAB Bank family,” said Steve Sala, president and CEO of TAB Bank. “This acquisition will allow TAB the opportunity to continue the high level of service and support they have come to expect from Anchor Funding Services while offering them the greater depth of products and services already available at TAB Bank.”