Manager Real Estate

Michael P. McGovern *********@***********.*** ************@*********.***

*** ********* ****, ******, ** 06477 Office: 203-***-**** Cell: 203-***-****

Vice President, C&I Credit Underwriter / Portfolio Manager, Webster Bank March 2007 -

Sourcing, Underwriting and Managing Middle Market C&I and ABL Loans - Direct, SNC, Private Equity

Sector Experience ranges from IT / Media to Financial, Energy, Transport, Manufacturing, and Services

12 Deals with $ 85MM in approved commitments underwritten in 2012

14 Deals with $119MM in approved commitments underwritten in 2013

5 Deals with $57MM in approved commitments underwritten in 2014

Underwriting duties include:

Meeting with prospects and customers to develop financing needs and structure suitably priced solutions to

produce an approvable financing proposal.

Rigorous analysis of company legal, financial and operational history.

Procurement of required external reports including appraisals, environmental reports and field exams.

Development of all necessary commercial loan documentation with outside counsel.

Presenting to and obtaining approval from senior line and credit management.

Compliance with all internal policy and outside regulatory requirements (OCC).

Selected as one of ten primary bank underwriters in 2009.

Analysis of Credit Metrics:

Emphasis is placed upon Fixed Charge Coverage, Leverage, Operating Trends and Collateral.

Direct Cash Flows are tested for adequacy to meet debt service and to determine financing need.

Trend History is considered and sensitivity analysis is performed to analyze downside potential.

Collateral is analyzed and properly margined to determine collateral coverage.

Portfolio Manager Duties:

Regular customer facing to assure customer satisfaction and create new financing or cross selling opportunities.

Management of requirements for customer loans, deposits, swaps and investments.

Timely credit reviews, revisions to credit facilities, credit agreement waivers and amendments as they arise.

Senior Industry Credit Analyst, IBM Credit LLC January 2000 to March 2007

Asset Based Lending:

Approval / management of commercial loans and leases, portfolio exposure of $400 million.

Analysis of cash flows, liquidity, leverage, collateral, residual values and field audits.

Collaboration with marketing and legal to structure financing opportunities and negotiate documentation

with customer principals and banks, in a highly systemized environment.

Excellent knowledge of the Uniform Commercial Code including Revised Article 9.

Personal performance consistently rated high by internal assessment program.

Workout/Restructuring:

Managed a $500+ million portfolio of distressed assets, primarily large IT leases and syndicated loans.

Focus was on maximizing recovery from restructure, sale to secondary market, or liquidation of collateral.

Credit Manager, Wholesale / Retail, Con Edison Solutions May 1997 to December 1999

Managed Energy Trading Credit Desk / staff of 4

Approved all credit and established credit risk guidelines for large gas and electric counter-party trades.

Analysis considered trade position, plus credit ratings and liquidity of gas and electric counter parties.

Guarantees were negotiated and employed where appropriate.

Contract Positions * April 1992 to December 1996

Northeast Financial Management Associates * November 1993 to December 1996

Field assignments included:

Real Estate Manager for a distressed bank, Great Country Bank; sold 40% of the REO portfolio, making

sale of the bank possible.

Founding Chief Executive Officer of the Private Asset Recovery Limited Partnership, a real estate vulture

fund.

Federal Deposit Insurance Corporation * April 1992 to November 1993

Liquidation Credit Analyst, FDIC Oversight Board, Bridgeport, Connecticut

Non-voting member of the Oversight Board, formed to workout $1.3 billion in commercial loan assets.

Duties included commercial credit analysis on C&I and CRE loans, review of sale strategy.

Made recommendations to the Oversight Board to accept, reject, or remand workout proposals.

Occasional field review of other banks to rate loan portfolios for CAMEL ratings or loss share agreements.

Chair of Litigation Review Committee, oversaw legal expense and strategy on a case-by-case basis.

Self-Employed Engagements *: June 1990 through April 1992

Re-engineered the credit / procurement operations of both Hanna Barbera and LIVE Entertainment.

Periodic evaluations of commercial real estate loan portfolios for KPMG, also private investors.

Periodic evaluations of commercial real estate loans in support of pricing CMBO’s for JP Morgan.

Vice President, Credit Operations, Vestron Video / Vestron Inc. October 1983 through May 1990

Managed staff of 10 - trade credit operations of NYSE listed video distribution company.

Rigorous credit analysis and periodic field inventory audits produced high quality results in the Americas,

EMEA, and AP.

Education:

Iona College, New Rochelle, N.Y. Studied Economics, 1983

Computer Skills: Excel, Word, various bank software suites such as ACBS, SUNGARD and Baker Hill.

Employment Prior to 1983:

Thomson CSF Credit Manager 1981-1983

Steyr Daimler Puch Credit Manager 1978-1981

Avco Financial Services Branch Manager 1976-1978

Household Finance Branch Rep 1974-1976

US Army 1971-1974

Education:

Lakeland Senior High School 1970

Canal Zone College (ARMY) 1972

Westchester Community College 1978

Iona College 1983

Special Awards or Distinctions:

Designated one of primary C&I underwriters, Webster Bank 2009

Top Rated Employee, IBM Credit 2004,2005, 2007

Directors Award and Bonus, FDIC 1993

Past President, National Video Software Credit Association

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