Over the years Abound Resources and our senior consultants have developed a stellar reputation for success in improving efficiency and performance of community banks. We have demonstrated time and again that we can help a bank:
- Stream processes
- Improve utilization and ROI of technology
- Increase revenue
- Increase fee income and profitability
- Improve overall efficiency
And at no time is it more important to focus on these issues than when a bank is involved in a merger, an acquisition or the consolidation of charters.
That is why Abound Resources has tailored our proven Best Practices Assessment and Implementation methodologies to assist community banks that are going through one of these critical events.
The objective of our Merger, Acquisition and Charter Consolidation services is to ensure the best attributes of the parties involved are identified and retained and that the overall performance and efficiency of the resulting combined organization is maximized.
Phase I: End To End Best Practices Assessment
The first step is a comprehensive assessment that compares literally every facet of the involved entities to industry best practices. The goals of the assessment are to:
- Identify the best aspects each component of the merger, acquisition or charter consolidation
- Identify opportunities to increase revenue, decrease costs and enhance earnings
- Quantify those opportunities and determine the potential bottom line improvements that can be realized
Abound Resources’ Best Practices Assessment examines every key functional component of the involved institutions and provides an insight to the unique combined market and operating environment.
Phase II: Prioritization And Implementation Plan
Consistent high performance requires processes based on total bank knowledge that makes use of the latest best practices and tested solutions. Top performing institutions have an alignment of technology, processes and personnel.
Based on the findings of the Best Practices Assessment in Phase I, and where the greatest opportunities lie for improvement, our team will establish priorities in each of these three areas.
Short and long-term goals will be set for synchronizing each area with best practices.
We will help you define what the success of this initiative will look like administratively, technologically, operationally, culturally and, of course, financially.
Upon completion of the assessment, our team will provide a perspective into how each area of your institution compares to industry best practices. We will tell you our recommendations and quantify how they will impact your institution’s revenue and profitability.
Our team will develop a detailed blueprint for addressing the priorities, and achieving the short and long-term goals. This blueprint will identify the resources required, state specific action items, and set milestones and timelines.
PHASE III: Execution
The blueprint developed in Phase II is carried out in a variety of ways depending on your internal capabilities and resources available.
Abound Resources’ team can:
• Establish and lead Strategic Task Groups made up of personnel from within your institution. These groups work to execute the blueprint and make recommendations to management for the most effective method of making the changes required to merge or consolidate institutions. This process creates a high degree of organizational buy-in and long-term commitment to change management.
Follow-Up and Goal Achievement Assessment
This follow-up provides reinforcement to internal personnel and ensures ongoing commitment to the overall process.