Persistence and Teamwork Leads to Sales Success
By: Mike Coppess, Senior Commercial Relationship Manager – Commercial Banking
In 2000, Rob Reinard, vice president, consumer services manager, and I had the opportunity to submit a financing proposal for a gentleman to construct a new building and relocate his office/manufacturing plant from its current location. After meeting with the gentleman, his management team and learning about their business, Accu-Mold, LLC, I was excited to submit our proposal. While we received positive feedback, Bankers Trust did not win the business. The competition offered a competitive proposal and the company’s board was uncertain if we had the resources to meet their future needs.
Despite this, I maintained a relationship with the company’s President, Roger Hargens, and Chief Financial Officer, Steve Boal. Each year, I would schedule an appointment with Roger and Steve to share our annual report and discuss our respective companies’ growth and successes. I continued to express that Bankers Trust had great admiration for their company and, if an opportunity would arise, to please give us another chance.
Our opportunity came along in 2006, when the investor was ready to sell Accu-Mold to Roger and Steve. This sale would require additional investors and bank financing, and I was asked to provide a loan proposal from Bankers Trust. I was told up front that they were also applying with our competitor that financed their first loan, as it has been the company’s bank for six years. One of the strengths of Bankers Trust is our ability to respond quickly, and within a week our commitment letter was on the president’s desk.
As you can imagine, I was extremely pleased when I learned that Bankers Trust had won their business. We went to work on preparing the loan document package for a transaction that involved multiple credit facilities, two entities, personal guaranties and complex loan agreements. The documents had been sent out for customer review and I was prepared for closing on Monday.
I was playing golf on Saturday morning when I heard my cell phone ring and was surprised to see Steve was calling. He asked if I had time to visit. I wasn’t about to tell him “no,” so I sat out the next couple of holes while he explained the dilemma. The investor’s legal counsel had just come back with modifications to Bankers Trust loan documents. Long story short, the sale had to close on Monday or the deal was off. Steve asked, “Can Bankers Trust fund its commitment on Monday morning?”
How was I going to pull this one off? I told Steve I would make some calls and be in touch the next day. Needless to say, I couldn’t focus on golf the rest of the afternoon.
Marlene Weeks was supervising our loan documentation department and occasionally used weekends to catch up. The next day – Sunday – I arrived at the bank at noon and sure enough, Marlene was there. I explained our challenge and Marlene jumped into the document prep. I was on the phone with Steve, our outside legal counsel and numerous other parties involved in the closing as Marlene completed the documents. After six hours, we had drafted, revised and delivered everything needed to close the loans. The next morning, I met our new borrowers at the closing, executed the documents and celebrated with Roger and Steve as they completed the deal.
In the ensuing 10+ years, our banking relationship has flourished. Bankers Trust has financed two building additions, equipment purchases, added a full line of treasury products, and introduced the executives to Private Banking, while our nearby branch provides their front line services. The most rewarding aspect of this story remains the borrower’s gratitude. Despite an interrupted golf round, I never get tired of hearing Roger tell the story of how Accu-Mold moved its banking to Bankers Trust because we can do what no other bank can. Accu-Mold remains one of our strongest advocates!