FOR IMMEDIATE RELEASE                                                                                                                                                     Contact: Robin Yasinow

January 28, 2008                                                                                                                                                                                       410-299-5437

Presidential Financial Appoints New CEO, Plans Acquisition

Atlanta firm to buy Wall Financial

ATLANTA – Presidential Financial Corporation, a national asset-based commercial finance company headquartered in Atlanta, has appointed Tom Matthesen as CEO. He replaces Don Beard, who had served as interim CEO since October.

During first quarter, the company will acquire Matthesen’s firm, Wall Financial Services of Alpharetta, Ga. Like Presidential, Wall specializes in financing small and mid-sized businesses and healthcare providers. Five Wall employees will join Presidential. 

“It’s a privilege to lead a company that’s been at the forefront of the industry as long as Presidential has. I’m thrilled to be working with a talented team toward a new, energized vision for growth,” said Matthesen. “Building on Presidential’s success in major markets, we plan to expand the company’s geographic reach, grow our core business and make the healthcare division, Presidential Healthcare Credit, a premier provider in that space.”

A 22-year veteran of the commercial finance industry, Matthesen founded Wall Financial in 2004 and served as its CEO. Under his direction, the company developed a portfolio of clients in 11 states.

“Tom’s extensive background in asset-based lending combined with his high degree of energy and confidence make him exceptionally well-suited to lead Presidential. His business development experience and knowledge of both commercial and healthcare financing will be an asset to the company,” said Don Beard, chairman of Presidential Financial’s board of directors.

Prior to establishing Wall, Matthesen was a senior vice president with GE Capital, where he oversaw portfolio management, underwriting, sales and marketing for the firm’s Commercial Services Division in Atlanta. From 1997 to 2000, he was senior vice president at Heller Financial in Atlanta. Matthesen also held management positions with SunTrust Bank in Atlanta, completing his 12-year tenure as a group vice president in 1997.  

Matthesen earned a master's degree in business administration from Georgia State University and graduated with distinction from the Stonier Graduate School of Finance and Banking at the University of Delaware. He holds a bachelor’s degree in business/finance from the University of Colorado.

The five employees joining Presidential from Wall Financial are Keith Kirkland as senior vice president of sales; John Suchaniak as senior vice president/portfolio manager; Ivan McGlathery as associate vice president/credit manager; Zachary Miller as vice president of sales; and Ali Washer as project manager.

Founded in 1981, Presidential Financial provides working capital for businesses and healthcare providers across the country. For more information, visit www.presidentialfinancial.com.