Success story:
MDI Investments facilitates National Bancorp growth through aquisition
Just wanted to let you know about a transaction I structured and acted as advisor to the Seller, recently announced the signing of a definitive agreement.
This is a community bank success story of a an advisor recognizing the true nature of what an acquirer wanted (but wasn't looking for) and matching that with a bank that was not looking to sell but could reap the rewards of implementing a multi-service, customer centric oriented bank into a dedicated 8+ million customer base.
The seller, National Bancorp, my client, was a multibank holding company until 2011 when it merged a 'bad bank' into a 'good bank'. The experienced management team of the 'Good Bank' fixed the problems in short order, transformed the philosophy and work acumen of the 'bad bank' while improving efficiency, standing/rating with regulators and hitting a stride in increasing profits. This management team distinguishes itself from others by its unique 'high-end retail service' mentality and execution. They employ this approach in every aspect of their business from basic lending and deposit products to the ancillary services (fee income) they cross-sell and provide to their customers.
The acquirer was looking for a way to grow their current small bank, gain some proven infrastructure and turn a profit. Their vision was to one day tap their dedicated 8+ million customer base in multiple states through multiple products/services.
Presenting a proven management team operating a sizeable community bank with an infrastructure that could be grown not only solved the smaller bank's infrastructure and brought immediate profitability to the operations, it provided and immediate path to expedite the acquirer's vision to sell to their dedicated customer base.