Finance company cutting 170 jobs in Evansville

August 7, 2014

A consumer finance company is planning to close its 170-worker mortgage servicing center in Evansville.

Springleaf Finance, a division of Springleaf Holdings Inc., has told state officials that it will permanently close the center that's in the company's downtown Evansville headquarters by the end of September.

Springleaf was formerly known as American General Finance and has gone through major changes since the 2008 recession.

The Evansville Courier & Press reported that Springleaf in 2012 closed more than 200 branch offices and eliminated 820 jobs, including some at its Evansville headquarters. That year the company also ceased real estate lending, which had been a major part of its business.

Most of the jobs involved call-center operations or collections. Those being fired can apply for other positions in the company, Springleaf said in a letter to the state.

Mayor Lloyd Winnecke's office told WFIE-TV it is disappointed with the layoffs but believes other job opportunities are available in the city.

Springleaf undertook a $336 million initial public offering last year that helped its CEO and executive vice president land in the top two spots on the 2013 list of highest-paid executives.

The company's stock rose 12 percent Thursday morning, to $29.54 a share, after it exceeded analyst expectations with a quarterly profit of $72 million.


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