CHICAGO — During elections held at the close of 2009, the National Marine Bankers Association (NMBA) elected Karen Trostle of Sterling Acceptance Corp. as president and Chris Renn of U.S. Bank as a new director, the group reported in a recent release.
Peggy Bodenreider of Maritime Capital Group was reelected as a director and assumes the role of vice president; Bill Otto of Lake Effect Financial Services and Mike Ryan of M&T Bank continue respectively as treasurer and secretary; and Jim Coburn of Flagstar Bank moves to the immediate past president post.
Trostle, who is president of Annapolis, Md.-based Sterling Acceptance Corp., earlier served as NMBA vice president and has been a director for five years.
The group said one of Trostle’s main goals for the organization in 2010 will be to reach out to consumer lending banks not currently engaged in the marine finance business to highlight benefits of boat loans and encourage diversification in their portfolios.
“With dealers and brokers reporting Internet listing activity up 30 to 40 percent in recent months compared to last year, we plan to promote lending for boats by marketing our pertinent facts to community banks, regional players and credit unions,” Trostle said in the release.
Trostle also said the NMBA will work to increase public awareness of the availability of boat loans and join with other lending organizations on legislative initiatives to improve the climate for the marine banking industry.
Renn is the senior vice president with overall profit responsibility for U.S. Bank Recreation Finance. He launched the National Marine and RV indirect lending program for the bank in 2001 and correspondent lending programs in 2003. His term lasts three years.
Mike Smith, president of Global Marine Insurance of Traverse City, Mich., was also reelected as a director, and the NMBA Board requested Mike Bryant of Trident Funding Corp. continue in his role as membership chair and golf co-director. Rounding out the NMBA Board are Directors Don Parkhurst of SunTrust Bank, Matt Amata of National Liquidators, Jayme Yates of Caterpillar Financial Services as well as Emeritus Directors Don Mattocks and Jackie Forese.