-Dental Practice Business– preparation of business plan and analysis / projections for arrangement of up to $5.0 million in financing.
-Energy Loan workout for Bank – business advisor to bank with borrower in Ch. 11. Maximize recovery of up to $5.0 million in loans.
-Acquisition loan request by successful entrepreneur. Acquire entity in coal business. Assist with due diligence; arrange financing.
Financial Advisor to CEO / Interim Chief Lending Officer / Interim Chief Credit Officer for $400 million western PA bank.
- Developed new credit policies and procedures.
- Developed/implemented new Credit Policy Manual.
- Revised and restructured credit approval process.
- Restructured lending function and provided guidance for development of a commercial lending marketing plan.
- Assisted with recruiting/hiring of new CLO and new CCO.
- Provided credit training for lending, credit and support staff.
Financial Advisor to CEO and Board of an $800 million western PA bank.
- Assisted CEO and Board with addressing credit and lending related OCC MRA issues
- Interim CCO and CLO roles; Interface w/ OCC on watchlist matters; Mission to substantially reduce problem loan portfolio
- Liquidated over $50 million of problem loans; sold $10mm troubled loan portfolio
- Assisted with securing $20 million of new capital to bring capital ratios within MRA target levels
- Assisted with recruiting/hiring of new CCO and new CLO
- Provided credit training for lending and credit staff.
Financial Advisor to CEO of closely-held PA Oil & Gas producer.
- Performed thorough review of all insurance policies, financial strength of carriers and quality/scope of coverage.
- Interviewed and evaluated brokers including incumbent; recommended change to a broker of record that demonstrated better knowledge of the company’s business and industry niche.
- Recommended and implemented changes to carriers, policy language and coverage structure/types.
Drafted Energy Lending Policy for a $4.6B PA bank.
Financial Advisor for start-up business in Oakmont, PA.
Financial Advisor to management and board of large start-up bank in western PA.
-Worked with management and Board to prepare information required for regulatory approval.
-Served as Interim Chief Credit Officer for several months; developed credit policies and procedures. Chair of Credit Committee.
-Developed lender base salary structure and incentive plan; assisted with staffing of key lender positions.
-Assisted with raising private start-up capital (BFSC clients comprised over 15% of $150 million initial total equity).
-In a later role as a business development officer, developed new credit clients for the bank and originated $90 million in deposits.
-Assisted with development of the management reporting system.
-After several years of successful growth and an IPO, the bank size is now $1.8B.
Financial Advisor to Board of $350 million bank in western PA.
-Worked with management and Board to address a Matter Requiring Attention from the FDIC.Developed policies and procedures for the bank’s investment management.
-Developed budget and planning tools.
-Evaluated organizational structure/capabilities; recommended changes/improvements to allow for controlled, quality growth.
-Addressed Asset/Liability issues and developed acceptable risk management program in line with FDIC directives.
-Prepared report evaluating management and board for regulators. Follow-up included an Interim CFO role.
Financial advisory role as industry expert for a major PA bank.
-Served as Bank’s expert advisor in support of an extension of a $42 million credit facility to a client of the bank for an acquisition of an equipment sales and service company. Provided structuring guidance, industry analysis, & credit analysis.
-BFSC provided follow-up financial monitoring service for the bank.
Financial Advisor to the Board of a $200 million PA bank that was under OTS oversight.
-Managed restructure of commercial loan portfolio, developed loan policies and procedures, and developed a new commercial loan department business plan. Prepared Loan Review report for $40 million commercial loan portfolio.
-Strategic approach involved loan workouts, partial loan portfolio sale and establishing new guidelines, policies, and procedures and strategy for rebuilding the commercial loan business segment.
-Improvement in loan portfolio quality allowed for sale of the bank at a premium price instead of a “troubled” price.
Key Workout Assignments:
Chief Restructuring Officer/Financial Advisor to PA company. Evaluation of debt repayment capabilities and capital restructuring needs to address $40 million in bank debt. Project involved thorough analysis of operations, evaluating cost structure and production/cash flow generating capabilities. Set up 5-year projections and profit plan; recommended capital restructuring plan and debt repayment plan; set up daily cash budget/monitoring plan.
Court-approved Financial Advisor to Debtor for $200 million WV company in Ch. 11 bankruptcy, with $125 million+ of secured debt. Assisted with Ch. 11 filing, debt restructuring, prepared valuation report, held negotiations with various creditors/creditor classes, oversee cash in/cash out on a daily basis, negotiated DIP financing, negotiated exit financing, assisted in development of projections, Disclosure Statement and Reorganization Plan. Successful emergence in 12 months.
Financial Advisor to Debtor and valuation/analysis/debt arrangement-emergence financing for a PA 47-bed personal care home business in Ch. 11 bankruptcy. Provided expert testimony. Developed workout plan.
Financial Advisory / loan restructure assistance to private coal industry lender for a $8 million loan workout situation. Negotiated structure, documentation and security package. Structured to provide maximum protection to lender in the event of a bankruptcy. Client ultimately recovered 100% of secured and unsecured advances.
Financial advisor to major PA bank for a $28 million gas industry credit/workout.Prepared analysis of company/borrower; prepared collateral analysis andvaluation for bank and outside auditors; prepared workout recommendations and liquidation plan.
Key Marketing Assignments:
Engaged to perform due diligence and prepare recommendation for NY investor evaluating potential acquisition of a Michigan bank. Primary focus: analysis of a commercial loan portfolio with a heavy concentration of middle market loans to the real estate, hospitality, and gaming industries.
Successfully raised $4.0 million in equity capital to support a client’s 2008 shallow gas well drilling program in PA. Fifteen well program. Funded similar equity capital for 2006, 2005, 2004 and 2003 ten-well programs.
Analysis/valuation of several commercial real estate loans in conjunction with proposed bank CRE loan portfolio sale. Completed loan sale totaling $19 million.
Interim CFO for a $250 million KY company. Established an accounting system and a management reporting system. Prepared request for bank credit facility and ultimately established a $65 million facility with GE Capital.
M&A assignment resulting in successful sale of a small coal company for $9 million.
Engagement to prepare business plan and raise capital for growth-oriented PA manufacturing company.
Valuation/analysis of a PA-based limestone/lime producing company.
Assignment as Interim CFO, worked as part of a team to secure financing for a major coal mine project in China. Worked with World Bank, IFC and Eximbank.
Established a $35 million credit facility for a major PA company. Prepared financing request package and arranged bank group to provide the financing. BFSC provided follow-up financial monitoring service for the bank group.
Engagement/ M&A assignment to prepare a valuation of a sprinkler pipe manufacturer in Charleston, SC, prepare a market analysis and secure an investor/buyer.
Assignment to prepare a valuation, establish borrowing capacity and determine the feasibility of setting up a captive lease finance company for a pizza company/franchisor.
$15 million debt arrangement assignment for clothing retailer in Texas.
Credit analysis and borrowing limit recommendation for gas producer client of a PA bank.