IRVING, Texas — Exeter Finance Corp. recently announced that it has a new chief executive officer and vice chairman. Taking on this role is Mark Floyd.

Floyd has a long history with Exeter's founders, which include Sam Ellis, Richard Frunzi, Daniel Parry and Kenneth Wardle, as well as board member Ed Esstman. The entire group previously worked together at AmeriCredit, where Floyd spent more than 12 years in various executive positions, including chief operating officer.

"Mark is a veteran auto finance executive who bring experience in successfully building and leading a growing business platform," said David Panton, Exeter board member and partner of private equity firm Navigation Capital Partners.

"We've known Mark for years. He's worked extensively with the Exeter management team in different capacities during his career, so we are delighted to have him on board at Exeter as we continue to grow the network and capitalize on new opportunities within the marketplace," he added.

While at AmeriCredit, Floyd's responsibilities included oversight of originations, collections and customer service operations in the U.S. and Canadian markets. His 30 years in the financial services industry also include time as president, CEO, COO, director and principal shareholder of various banks in the Dallas area.

"Over the last four years, Exeter has built a solid foundation through strong credit risk management, prudent underwriting, solid collection practices and financial control," Floyd pointed out.

"I am thrilled to join such dedicated professionals and look forward to working together to further the company's success," he continued.

Exeter recently closed a $100 million warehouse credit facility with Wells Fargo Bank N.A., which company officials said significantly increased the size of their previous line of credit.

The credit facility is designed to provide substantial capital for the growth of Exeter's loan portfolio, enabling the expansion of its branch network. The company plans to add staff to fuel its plan to enter new markets and sign up additional dealers for its finance program.

The company operates branches in Irving, Texas; Independence, Ohio; Paramus, N.J.; Schaumburg, Ill.; St. Louis, Mo.; and Manchester, N.H. Exeter also serves the Atlanta and Philadelphia markets.

The company reached $100 million originations in May.