Mick Goik, Crestmark president and chief operating officer, announced the promotion of James G. (Jim) Farrell to senior vice president and the hiring of Vince Hamilton as vice president.

Farrell has been promoted to senior vice president, Eastern Division sales manager from first vice president, Eastern Division sales manager. Farrell continues to report to Ray Morandell, executive vice president, national sales manager. He splits his time out of Indianapolis and the Troy, Michigan office.

Farrell joined Crestmark in August 2013 with an established asset-based lending background at such institutions as LaSalle Bank, Bank of America Business Capital, Huntington Bank and Crestmark. Farrell is a member of the Turnaround Management Association, where he is a past board member for the Detroit Chapter, and a member of Association for Corporate Growth. He holds a bachelor’s degree in finance from Michigan State University.

“Over the past several years, we have improved reporting structures to allow a more focused coaching approach for our team and how we go to market. We established regional sales managers with team sizes conducive to staying focused on the tactical plans of our strategic vision,” said Morandell. “Jim’s promotion recognizes his hard work in leading the East Division sales team. His efforts have been a catalyst in building our growth objectives. We look forward to further efficient and profitable growth as he continues to develop his team and we continue to optimize our go-to-market strategy.”

Hamilton has joined Crestmark as vice president, account executive for the Eastern Division. Hamilton reports to Jeff Silverstein, senior vice president, East Division portfolio manager. He works out of the Troy office.

Hamilton joins Crestmark with more than 20 years of commercial finance experience, and an extensive background in credit administration and small-business lending. Hamilton worked in various capacities with Comerica Bank in credit and lending; most recently as vice president and senior alternate credit administration officer, where he managed teams in private banking and commercial lending. Hamilton earned a bachelor’s degree in finance from Oakland University in Rochester, Michigan.

Silverstein said, “We are pleased to add Vince to the Eastern Division portfolio group. He comes to Crestmark with over 20 years of banking and lending experience, which will allow him to provide his clients with the highest level of customer service and assistance with their needs. We look forward to his future contributions to our clients and the bank.”