Devils Lake, N.D. – Chad Palmer has been promoted to President at Western Equipment Finance, a bank-owned equipment finance company that offers full-service commercial financing and leasing options throughout the United States. 

Palmer was named President following the recent retirement of Laurie Bakke, who led the company since 2009. Bakke has transitioned to a senior advisory role with the company, and she will remain on the Board of Directors for Western State Bank and its related entities.

In his new role, Palmer will lead growth strategies for the company. He will continue to guide the business development and sales development teams, and oversee the company’s vendor, franchisor and customer relationship development. He will also work closely with the Western Equipment Finance leadership team to guide the company’s overall strategic direction.

“I’m excited and grateful to serve in this new role,” Palmer said. “We have an amazing culture and team at Western Equipment Finance, and we’re looking forward to another year of growth in 2023.”

Most recently, Palmer served as Senior Vice President – Business and Strategic Development. He joined Western in 1998 and previously served in consumer loan, credit management, and third-party origination roles. He is a graduate of Minot (ND) State University. 

“Chad is ready for this leadership role,” said Brian Houkom, Chief Executive Officer of Western State Bank. “In his nearly 25 years with the company, he has earned the respect and trust of his colleagues across the industry. He lives our values every day, and we look forward to supporting him in this new role.”

ABOUT WESTERN EQUIPMENT FINANCE
Western Equipment Finance is a bank-owned equipment finance company. It offers full-service commercial financing and leasing options throughout the United States. Western Equipment Finance serves several primary industry segments including agriculture, amusement, audio/visual, carnival, construction, family entertainment, fitness, franchise, funeral, gaming, laundry, lawn and tree care, rental, and waste management.

Western Equipment Finance consistently ranks among the top 100 equipment finance companies in the nation. According to the Monitor industry publication, Western Equipment Finance is the 71st largest equipment finance company in the country. In the same Monitor rankings, the company is the 62nd top equipment finance company by new business volume. 

To learn more about the company, visit http://www.westernequipmentfinance.com. 

Western Equipment Finance is based in Devils Lake, ND, with additional team members working from locations across the country. It is a division of Western State Bank, a full-service community bank with ten locations in North Dakota and Arizona. Western State Bank is employee-owned with nearly $1.7 billion in assets and approximately 275 team members. It has a five-star superior rating by Bauer Financial, a trusted and independent research firm. The five-star rating is their highest rating for financial stability and strength.