The Financial Managers Society
(FMS) has published a White Paper by Ed Depenbrok, titled: “Driving Performance: New Expectations of the CFO in Community Banks”. The FMS regulary publishes White Papers by banking industry experts on their website.
At dbrok group we believe it is very important to maintain the highest standards of integrity, independence, objectivity, and excellence.
”Working with dbrok group has significantly impacted our performance. We restructured our balance sheet and became more forward-looking. Our earnings are right on target.”
Gary D. Riley, President and CEO, Acuity Bank, Tomah, WI
-dbrok group welcomes Peoples Bank, Marietta, Ohio as a new client.
-dbrok group welcomes EB Financial, Lake Forest, Illinois as a new client.
-dbrok group welcomes ISB Community Bank, Ixonia, Wisconsin as a new client.
-Jacqui Engebos, dbrok’s Director, Financial Services, spoke at the Community Bankers of Wisconsin’s Management Conference and Expo, on September 13, 2011 at Grand Geneva Resort, Lake Geneva. Her workshop was entitled, “Bank Failure from the Banker’s Perspective”, and was designed to provide the attendees with the insight into the operations of a troubled bank and the tools to navigate the environment, providing knowledge on what to expect. Troubled banks must maximize their time and focus on the most pressing issues. Banks in Wisconsin must move swiftly in addressing issues.
-We are proud to announce a new engagement as a part of our long-time association with PyraMax Bank, Greenfield, Wisconsin.
-In March 2011, Jacqui Engebos, dbrok group’s Director, Financial Management Services completed a six month assignment as non-employee CFO of Legacy Bank, Milwaukee, Wisconsin. Engebos reported to the CEO and was responsible for administration of accounting, finance, and treasury management activities for the $200 million community bank. She also provided transitional support for the FDIC during their receivership activities.
-In August 2010, Ed Depenbrok completed a 2 1/2 year assignment as non-employee Chief Financial Officer of CIB Marine Bancshares, a publicly traded Bank Holding company.
Under this arrangement, Depenbrok assigned about half of his client time to support CIB Marine in this role. During his tenure, CIB Marine became the first Bank Holding Company to restructure its Trust Preferred Securities through the use of Chapter 11 bankruptcy. The company restructured its Trust Preferred Securities into non-cumulative, perpetual preferred stock in 4th quarter, 2009, effectively re- capitalizing the company. It fully emerged from bankruptcy in 1st quarter, 2010.
Other accomplishments at CIB Marine over the past 2 1/2 years included: bringing SEC regulatory and tax reporting current, streamlining financial management, and designing and implementing expenses reduction initiatives. dbrok group remains a consultant at CIB Marine for finance and accounting management.
-Ed Depenbrok was the opening session speaker at the American Bankers Association CFO Exchange in Kansas City. The fourth annual ABA CFO Exchange entitled "Cutting Through the Maze: Making the Connection" was designed to help Community CFO's navigate through the shifting landscape of the financial services industry. For more information on this excellent ABA program, click here Please contact dbrok group if you would like one of us to participate in your program as a speaker, presenter, or panelist.