Client Testimonials

  m.rae's exclusive webcasts are a quick and clean way to educate and inform everyone on how the bank should position itself in your board and in management meetings. Now many of my board and management team members want to access the webcasts on their own. You would be crazy not to use them.  

G. Henry Cook, President & CEO
Somerset Trust Company

 I think the books are really great "short" reads with an impactful message that's very useful to all bankers. 

Chris Cole, CFO
Security Bank

  The Art of Succession Planning book was great because it importantly underscores the need to engage in succession planning throughout the bank, not just the CEO position.  

Dave Vernon, President & CEO
First National Bank of Orrville

  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.  

Jeffrey Ludwig, Chief Financial Officer
Midland States Bank

  We've had a relationship with the people at m.rae for decades. They are our investment advisor, and they perform our asset/liability modeling. I consider them an important part of our institution's team and a main source for money-making ideas. More recently, Jay and Michelle worked with us to develop a new strategic plan. It got our people on the same page in terms of expansion, and built consensus around our future.  

Jerry Bazewicz, President & CEO
First Keystone National 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

 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. 

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

 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

 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.