Tom Depping

Commercial Equipment Finance Expert and
Executive Vice President, Ascentium Group Manager
Thomas Depping
Tom Depping has been instrumental in shaping the equipment finance market. He has managed the start-up of three companies with the mission to fill a market need: bring efficiency, service excellence and customized financing products to small and medium sized businesses.

SunAmerica Financial Resources / First City Leasing Corporation
Depping served at SunAmerica Financial Resources and its predecessor, First City Leasing Corporation, from 1981 to 1994. Depping held the responsibility as President from 1991 to 1994.
  • SunAmerica Financial Resources was an equipment leasing, merchant bank operation
  • The Company specialized in buying and selling equipment lease portfolios
  • In a two-year span, Depping took the company from $1.1MM in pretax earnings to $13.73MM
First Sierra Financial, Inc.
In 1994 Depping, founded and served as Chairman, President and Chief Executive Officer of First Sierra, a publicly-held, small-business finance company. Under his direction, the Company grew from a start-up to a business with nearly $3 billion in assets and a scalable servicing platform that provided unparalleled automation and process efficiency. First Sierra was sold to American Express in 2001.
  • Grew to $1 billion a year in originations in less than five years
  • Originated over $2.5 billion in assets and managed a $1.5 billion portfolio
  • Pioneered credit scoring and built best-in-class technology platform
  • IPO completed in 1997
  • Sold to American Express generating a 52% IRR and returned 31.1X for investors
Main Street Bank
Depping, along with a group of investors, acquired Main Street Bank in 2004 and he became its Chairman and Chief Executive Officer. Under his leadership, Main Street Bank created a small business lending platform and quickly grew from a local community bank to a national small business lender with $500 million in assets.
  • First company to operate exclusively as an equipment finance business under a bank charter
  • Managed Main Street from start-up to over $500MM in assets
  • Excellent credit performance through the financial crisis
Ascentium Capital LLC (a subsidiary of Regions Bank)
In 2011, Ascentium Capital was formed by purchasing the majority of assets and the operating platform from Main Street Bank. As Chief Executive Officer and through his vision, Ascentium became a leading commercial lender specializing in financing, leasing and working capital solutions. The company's offering benefits equipment manufacturers and distributors as well as direct to businesses nationwide.
  • Increased annual originations to $898.5MM in 5 years and to $1.5B in 8 years
  • Innovative credit scoring process led to best loss statistics in small ticket industry
  • Largest private independent finance company by new business funding volume
  • Aaa ratings from Moody's on securitizations
  • Sold to Warburg Pincus LLC in 2016 generating a 4X return for the initial investors
  • Acquired by Regions Bank, a leading financial institution, in 2020
At the time of the Regions Bank acquisition, Ascentium reached $1.50B in annual funded volume and $2.4B in managed assets. Depping is the EVP, Ascentium Group Manager.

Depping is a Certified Public Accountant and began his professional career with KPMG. He graduated cum laude from Eastern Michigan University.

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