Hunton Andrews Kurth LLP represented Crescent Bank (Crescent) in the sale of its auto financing division to Arra Finance, LLC (Arra). Crescent is a New Orleans-based FDIC insured bank with approximately $1 billion in assets that has provided nationwide indirect auto lending since 1991. Crescent will retain its branch and online retail banking platforms, as well as its commercial lending program. Arra will become the servicer for Crescent’s $770 million originated auto loan portfolio. The transaction closed September 15, 2025.

As a well-established operator in the subprime auto financing space, Crescent has originated upwards of $5.3 billion in auto loans nationwide over its 30-year history and $652 million in the last two years. This acquisition brings Crescent’s e-contracting, internal loan servicing, and accelerated auto-decision capabilities to the Arra platform, alongside advanced analytics and additional fraud protection tools in underwriting and funding.

The Hunton team advising on the matter was led by partners Peter Weinstock, Carl Goss, and Michael Goldman, with assistance from associates Christian Sheets, Nate Jones, and Jennifer Scherschel. The team also included partner John Dedyo and associate Gregory Bruno on structured finance and securitization matters; partner J.C. Chenault and associate Matthew Chriss on real estate matters; partner Ryan Glasgow and counsel Tyler Laughinghouse on labor and employment matters; partner Michelle Lewis and associate Tyler Richardson on employee benefits matters; counsel Matthew Ricciardi on intellectual property matters; and partner Alexander McGeoch and associate Caitlin Scipioni on tax matters.