Thomas W. Grottke, President
Northeastern Banking Services Group, LLC
Tom has nearly 25 years of professional services experience working for large and small financial institutions as well as other financial services companies as an auditor or consultant in connection with strategic transactions (bid development, formulating merger proposals, evaluating proposals, due diligence, etc.), regulatory orders and issues, strategic planning and managing enterprise projects in connection with mergers, technology projects and SOX/FDICIA Program implementations.
Tom has been the lead audit and/or consulting partner or professional on numerous banks, credit unions and thrifts in New England and New York State with his regional consulting practice since 2002 as well as with his other previous firms: KPMG Peat Marwick, LLP (1995 to 2002) and Arthur Andersen & Company (1985 to 1995).
Tom specializes in providing consulting services to community-based financial institutions. He also has served large and small investment banks, insurance businesses, trust companies and bank technology companies during his career. But his major area of expertise and focus for the last twenty years has been directly supporting the CEO, CFO and other senior officers of his community bank and credit union clients with major strategic initiatives and plans including:
- Developing business plans and facilitating board/management meetings,
- Regulatory advisory services in connection with Cease and Desist Orders, MOU and Board Resolutions,
- Developing strategic technology plans, and
- Managing enterprise-wide projects converting to new systems, merging banks or reorganizing operations.
A sample of NEBSG’s relevant experience specific to bank valuations, regulatory agreements and acquisitions includes:
- Supporting the CEO of a financial institution negotiate acquisition terms with its target company;
- Supporting the CEO and Board of a bank as it negotiates business terms to acquire specialty financial services businesses;
- Supported management of a $1.8 billion bank with its response to a regulatory order and negotiation of regulatory agreement and on-going tracking and reporting;
- Supported management of a multi-billion dollar public bank with their acquisition and merging of two banks;
- Supported management of a $500 multi-bank mutual holding company merge its subsidiary banks’ accounting, operations and lending departments;
- Northeastern Banking Services Group, LLC
Bank Valuation, M&A and Regulatory Order Services
- Worked for the CEO and Board of Directors responding to regulatory orders and on-going management and capital planning, sourcing new capital, selling the institution and negotiating with the FDIC, Central Co-operative Bank and private buyers;
- Valued the assets and liabilities of a $600 million bank and supported the acquiring bank with its purchase accounting;
- Valued a $125 million bank in connection with a merger of mutual organizations;
- Performed Due Diligence of a bank in support of our client acquisition; and
- Developed the Core Deposit Intangible asset valuation of a $600 million bank and a $125 million bank.
Our professionals have been the lead consultant on numerous other engagements to support senior management and the Board with responding to and negotiating regulatory C&D, MOU and Board Resolutions with the OTS, FDIC and OCC; and
Our professionals have been the lead accounting professionals on numerous transactions developing/supporting bids, valuing sellers, auditing Purchase Accounting and participating or leading due diligence efforts.
Other Participations and Resources
NEBSG, LLC has a full license subscription to SNL Financial the leading provider of financial institution merger and acquisition valuations and other industry and market valuations and data to investment advisors (see www.snlf.com ).
NEBSG, LLC is an associate member of:
- Connecticut Community Bankers Association;
- Connecticut Bankers Association;
- Bank Compliance Association of CT;
- Massachusetts Bankers Association;
- Independent Bankers Association; and
- American Bankers Association.