The Bank was under OTS supervision, had just gone through management reorganization and was selling for under $3.00 per share. LoBue Associates was engaged to re-engineer all operations and participate in the turn-around strategy.
Due to the successful implementation of all recommendations the Bank staged a dramatic comeback in client service and effectiveness. Business volumes increased and significant cost efficiencies added to a profitability surge resulting in resolution of OTS concerns.
An improving trend in new deposit accounts, mortgage volumes, branch sales of alternative investments and client service improvements, coupled with reduction of supervised loans led to a 600% increase in stock value within 24 months.
Soon thereafter the management accepted a buyout from a major regional bank, giving the shareholders $28.50 per share for their stock, which was trading below $3.00 per share two years prior.< See More Success Stories Load Success Story Generator Tool >
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