Bank of the West merged its wholly owned Essex Credit Corp. unit into the bank on Oct. 1. Essex Credit, which originates RV and marine loans nationwide, has been operating since 1997. BOW said in a release that the merger better positions Essex and the bank for future growth by coordinating operations and enabling the sale of Essex products under the BOW brand.
In addition to Essex’s specialized products being available directly from BOW, current Essex customers will have access to the bank’s entire suite of products and services, such as insurance, auto loans, and mortgages. The merger will help reinforce and grow relationships with affinity partners, according to the release.