Client Testimonials

  We engaged m.rae to help with ALCO due diligence as we approached several acquisitions. They ran our asset/liability model and overlaid the target’s assets and liabilities to see what it would look like. It provided a lot of insight as we formulated our final bid, and, as a result, we were able to successfully acquire a bank through the FDIC.

They also helped us get our arms around the private label CMO portfolio that was included in the FDIC transaction. And more recently, we did the same ALCO modeling on a target that pulled a dozen branches out of a larger bank. Jay Brew and I walked our board through the findings, and we signed a definitive agreement at the end of the year. 

Jeffrey Ludwig, Midland States Bank
Midland States Bank

  The first time I asked m.rae to work with our bank, Michelle Gula created an introductory session that when presented with Jay Brew and Jamie Sumner, left our board enlightened and capable of understanding a much higher level of strategic planning and risk management.

The second time, they delved into very bank-specific information and opinions, including where various members felt there was too much risk and where we see our future. It was extremely reassuring to me to have 'outside experts' model our balance sheet and back up my assumptions. It also gave our board a sense of how they can gauge risk.

Jay also talked about our earnings, pointing out that our level was among the highest in the nation, but it was based on timing – not core. He pushed us to discuss how we could take some of the bank’s earnings and reinvest for the long term. We went over it with the board and had him and Jamie there to talk it through.

The timing for their visit couldn’t have been better. They helped our outside board members, who aren’t bankers by trade, to better understand and appreciate the magnitude and current shifts in the industry. I still disagree with Jay’s interest rate outlook – but it was really good to have someone in the room presenting a different angle. It made people discuss things that they wouldn’t have even touched the day before.  

Josh Guttau, President & CFO
Treynor State Bank

  m.rae conducted a credit shock for our bank in the fall of 2008, so we've had some time to see how the recession played out. Unfortunately for us, the numbers seem to be stacking up very closely to the most likely scenario m.rae laid out. And frankly, we thought they were really off when they were putting the numbers together.

We worked primarily with Jamie Sumner, m.rae's Director of Analytics. But, all of the staff were good to work with, and the process was timely. We followed up with a comprehensive web conference to go over results and ensure that everything was fully explained.

It was extremely helpful for our board and management team to see that information – and have it available for the regulators. Plus, now that the shock is done, it is a valuable tool to watch how things will occur as the economy shifts.  

Keith Knudsen, Chief Financial Officer & COO
Security National Bank

  In these confusing economic times, business owners find it very desirable to hear professionals who are looking to the next ridge as they shape their own view of their business' future and make educated decisions going forward. To that end, we provided several very intense economic programs for our business customers, featuring Dr. Ed Seifried and Jay Brew.

It's not often a community bank can speak so directly to its business customers. But, providing an understanding of the economy is an important piece of what they look to us for. By bringing Jay and Ed in, we didn't just hit a home run, we hit a grand slam. They got rave reviews, and we gained enormous status with our customer base for doing what they expect us to do.

Jay and Ed exceeded our expectations – which is astonishing as our expectations are high.  

G. Henry Cook, President & CEO
Somerset Trust Company

 When Lehman Brothers started falling apart, my board wanted a full review of our investment portfolio. The general consensus was – we exercise this level of due diligence with our loan portfolio – why not investments?

So we set out to find a group with a high level of credibility – one that would instill confidence in their results.

We found a lot of people out there analyzing investments, but m.rae analyzes investments AND banks. The firm came recommended by several leaders in the industry, plus I saw their principals recently quoted by the New York Times.

Throughout our investment review process, Jay Brew, m.rae's Chief Bank Strategist, provided crucial comments. He was highly knowledgeable and his diverse and deep banking and economic background was a real asset. We found m.rae to be credible, and my board was very comfortable with the results.  

John F. Heaps, Jr. President & CEO
Florence Savings Bank

 The m.rae Credit Shock Model was an excellent method to test our loan portfolio under severe conditions, and it confirmed to our board that we would remain well capitalized. 

Matt Prosseda, Executive Vice President
First Keystone National Bank

 My bank really enjoys m.rae's Economic Survival Kit. The strategies and insight that come through Jay Brew's weekly market briefings help focus our management team discussions. Plus our subscription to Dr. Ed Seifried's Economic Indicator Chart provides an informative way to remain in front of clients and prospects. 

Ron Wilson, Chief Executive Officer
South Louisiana Business Bank

 Jay and Michelle have worked with us on Strategic Planning, Capital Planning, and Deposit Capture programs, in addition to facilitating board and management sessions. Usually when people come in and do these things, they suggest large initiatives that make a big splash and then leave. After which, everything goes back to normal.
Instead, we are in constant phone contact with them — running things by their team and tapping them for ideas. Plus, they visit our bank quarterly to follow up on our performance and keep our strategic activities moving along. As a result, we have been better equipped to stay focused on our strategic objectives and are pleased with our association with them. 

G.C. (Kin) Kinney III, Executive Vice President & Chief Deposit Officer
M&F Bank

 I've been a bank board member for nearly 20 years and have attended plenty of presentations. Jay Brew impressed me the farthest in terms of his grasp of true strategic planning. Shortly after I saw him speak, I ordered his book on the subject. And after I read it, I ordered one for each director, and more.
Recently, we invited him out to facilitate our strategic planning session. Most people put their SWAT up on the board, talk about next year, and then invite us out for cocktails. Jay's philosophy, however, is long-term. He forced us to think down the road about what we have to do to achieve our desired value. He brought out some interesting thoughts, gave us good ideas, and when he walked out of the room, we had consensus. Several of my directors commented that this was the best strategic planning session we've ever had. I agree. 

David Price, Chairman of the Board
Fresno First Bank

 Michelle and Jay facilitated our board through many strategic initiatives, and based on their work, we're making great strides with some monumental goals. Plus, we're still using their session reports and materials a year after completing the strategic planning process. Our board even asked for updated copies for this year's strategic review. That's a real testament to the quality of their work. 

Nick DiCerbo, Director, Chairman Strategic/Executive Committee
Community Bank System, Inc.

 When you hire someone to help with strategic planning, you expect sound advice. Jay Brew brought a lot of industry knowledge so our directors could get a feel for what's going on around the country. Plus, his team profiled our home state so we could factor in our own economic circumstances and focus on what really needed attention.

The entire process was good. He surveyed all participants prior to the meeting to determine how close — or how far apart — we were on issues. Then he used that input during the session to pull us all together. Ultimately, he brought a lot of reality to the table and, according to my board, facilitated the best strategic planning session we've ever had. 

Michael Tierney, President & CEO
Peoples State Bank

 My bank recently relocated our main office headquarters and has subsequently decided to restructure our liability (deposit) mix. Our bank had a high concentration of CDs, with a high cost, in a competitive market. Jay Brew helped us put together two programs that were very successful. With Jay, we are now focused primarily on a higher rate statement savings account and checking account promotions. In fact, we have opened many more deposit accounts than we had before. I'll continue to call Jay to plan our next steps, as he can see our strengths and weaknesses, and use his 30+ years of experience and ideas to help improve our bank. 

Edward Fischer, President & CEO
Dearborn Savings Bank

 We've engaged in a formal strategic planning process for 16 years; so I am always looking for new and refreshing ways to address a familiar process. Jay Brew and his team brought a credible background and experience in the industry. But more importantly, they were able to marry outside circumstances with our particular needs to make our session contextually and institutionally appropriate. Over a two-day period, they elicited good feedback from our 17-person board as we assessed where the company is and where the industry is going. Together, we brought appropriate focus to important matters and made good decisions throughout the process. 

Hugh S. Potts Jr., Chairman & Chief Executive Officer
M&F Bank