Risk Management Manual of Examination Policies - FDIC

IV. GENERAL CHARACTER OF THE MANAGEMENT (Continued)
NAME AND ADDRESS
AGE RELATIONSHIP WITH BANK
Lamar, Austin
59 Director Officer 10% Shareholder
12770 Jernigan Avenue
Anytown, Anystate
LIABILITIES NET WORTH SHARES OF
STOCK
ANNUAL
SALARY
290,000 7,511,000 110,000 0
TITLE
Proposed Director (nonexecutive)
OTHER BUSINESS AFFILIATIONS OR PROFESSIONS
Retired Banker.
Summary and Findings
Mr. Lamar was born in LaGrange, Georgia and has resided in Anytown, Anystate for approximately one year. He is a graduate of
Auburn University, Auburn, Alabama. Mr. Lamar recently retired from RegionalBank, an NYSE listed entity in Anystate, following
its acquisition by ForeignBank. During his twenty-six year tenure at the state member bank, he served in a variety of executive and
operational capacities.
Bank Experience
From 1990 to 2000, Mr. Lamar served in various executive roles including, RegionalBank’s Vice-Chairman of the Board and Chief
Financial Officer. At the time of its acquisition by ForeignBank, RegionalBank was an $11 billion commercial bank, operating in
Anystate. Prior to that, Mr. Lamar served (1975-1990) at MidsizeBank, Anytown, Anystate, which was merged into RegionalBank in
1990. While at MidsizeBank, he served as a Director as well as its President and Chief Executive Officer (1988-1990). In addition to
his executive officer roles during his tenure at MidsizeBank, Mr. Lamar served as CFO, Controller and Audit Manager.
Regulatory History and References
Available regulatory information (from FRB, State, and OCC) suggests that the institutions were fundamentally sound and operated.
Contacts at the Federal Reserve Bank confirmed his executive level experience and had no supervisory concerns to report.
Interview Comments
Mr. Lamar became associated with the proposal through the Applicant’s legal counsel, HH, an entity with whom he collaborated with
on many issues while at RegionalBank. Mr. Lamar stated that he has considerable experience within finance, asset securitization, as
well as, mergers and acquisitions. Regarding the latter, he stated he was involved in the acquisition of some forty or more institutions.
He also stated that his institutions had experience with the supermarket branch delivery channel. While employed at RegionalBank,
they operated over 20 rural supermarket branches with a moderate degree of success. He conveyed that the branches were profitable
but did not enjoy the degree of returns as other parts of the institution. According to Mr. Lamar, the supermarket branches generally
achieved $4-5 million in deposits and a loan to deposit ratio of 60% within 2 years of opening. He added that he is compelled by the
more favorable demographics within the Anystate market, particularly the existing deposit base and retail branch networks employed
by the myriad of institutions. This was an aspect that was far less prevalent in the rural areas of Anystate. Mr. Lamar stated that his
residence’s distance from the main office would not preclude him from being an active director.
Financial Information and Stock Ownership
Mr. Lamar’s personal statement dated August 2001, reflected $80M in cash and $4,266M in marketable securities. Other material
assets include residential properties valued at $650M and pension plans valued at $2,806M. Liabilities consist primarily of a
mortgage payable of $240M. Mr. Lamar’s $5,000 investment in proposal was reportedly made with cash.
FDIC 6510/10 (02-2002) 28