Duane L Beale
Cheshire, Connecticut 06410
203-***-**** (Home) 203-***-**** (Cell)
***********@***.***
SUMMARY
Experienced in sourcing, structuring, underwriting and maintaining a diverse portfolio of CRE, C & I, and Construction lending relationships, including SBA and State credit enhancement programs.
Prepared and presented loan recommendations to Senior Management and the Board of Directors analyzing industry, specific risks and mitigates for new loan opportunities and renewal of existing facilities.
Negotiated and reviewed loan commitments and loan documentation.
Monitored portfolio for credit quality, compliance, and proper risk classification, identifying positive events and implementing resolution plans for adverse events.
Monitored construction loans, reviewing AIA documents and consultant reports to determine percentage of completion, adequacy of Holdback Reserves and release of subcontractor and supplier claims.
Reviewed Business Plans, contracts, construction budgets, environmental and real estate appraisals.
Worked out CRE, C&I, and construction relationships, including liquidation of SBA guaranteed loans.
Identified, closed or referred, a broad range of consumer and business services, including residential mortgages, insurance, merchant services, cash management, wealth management, transaction accounts.
Completed 24 month Credit and Management Training Program at Connecticut National and First Bank.
Excellent Word and Excel skills, some Access and PowerPoint experience. Familiar with Jack Henry, OSI, Baker Hill & Fiserv Platforms, including developing queries to generate management reports to support operations, quality control and exception monitoring of commercial credits, covenants, and collateral.
Endeavored to maintain an “Esprit De Corps” among support team and operational areas to facilitate the delivery of quality service to clients.
PROFESSIONAL EXPERIENCE
United Bank (NE Bank), West Springfield, MA, Vice President, 2011-2013
Commercial Lender & Commercial Workout
Originated and managed $65MM C&I, CRE and Construction loan portfolio ranging from community based loans to $8MM construction loans. Monitored portfolio compliance with Base Borrowing formulas, overall credit and general loan conditions. Monitored construction loan progress through site inspections, AIA Certificate review, and review of lien waivers. Restructured existing multi-million dollar relationships to correct origination deficiencies that impaired ability of Bank to recover against collateral in the event of a default. Prepared Impaired Asset reports to identify remediation plans and document progress of anticipated results.
NewAlliance Bank, New Haven, CT, Vice President, 2006-2011
Senior Commercial Lender, Commercial Workout Manager
After starting as commercial lender, assumed responsibilities in commercial workout as Bank’s commercial portfolio deteriorated. Directed external bank counsel activity related to settlement or liquidation action, including foreclosures and bankruptcies to maximize net present value of portfolio. Restructured debt to return assets to performing status, including structuring TDR’s. Managed liquidation of SBA guarantees preparing Pre Purchase submissions, Post Purchase Wrap Up Reports and Offers in Compromise of debt. Presented periodic reports to Executive Management for risk identification, action plan, and recommendations for asset write downs or nonaccrual status.
Castle Bank and Trust Company, Meriden, CT, Vice President 2001-2006
Commercial Lending
One of two Officers managing De Novo Bank portfolio of commercial, Urbank, SBA Express and 504 loans, obtaining SBA Express approval for Bank. Negotiated loan participations to continue serving client base impacted by regulatory limitations imposed by maximum loan exposure limitations. Provided assistance with consumer lending to the branches and product development. Member of committee responsible for product development, compliance and technology. Supported single employee charged with compliance and tracking of loan portfolio and collateral.
Duane L Beale
Savings Bank of Danbury, Danbury, CT, Assistant Vice President, 2001
Commercial Banking
Developed portfolio of small to midsized commercial loans in Danbury area. Utilized Urbank and SBA 504 programs extensively. Worked with private investment company associated with the National Minority Supplier Development Council to arrange for capital injection to existing minority client.
Southington Savings Bank, Southington, CT, Assistant Vice President, 1996-2001
Commercial Loan Officer
Responsible for development and management of a small business portfolio. Introduced Bank to SBA and CDA programs to mitigate risk and leverage collateral. Managed all reporting to these agencies.
Member of Project team that selected Jack Henry & Associates as new platform system. Became department technology resource for new platform, developing query programs to extract data for information analysis, identify portfolio trends, and compile information for reports used by lending officers, management, Regulators, and lending partners. Developed single source report to monitor Loans to One Borrower, and Note Master for individual officers.
Developed loan approval form that merged redundant loan approval and loan operation forms, resulting in consistent input of data to book and classify loans, capturing collateral and demographic data required for monitoring compliance with HMDA, Flood, and CRA, reducing booking errors and noncompliance.
First Bank / Connecticut National Bank / Shawmut Bank, Hartford, CT, 1981-1996
Management and Credit Training, Mortgage Origination, Commercial Lending and Workout
Completed Management Training and Commercial Lending Training Program for future bank leaders. Rotations included all operational and executive areas including Credit, Treasury, investment, loan review, operations, consumer banking and commercial business development. Upon completion, assigned as Assistant Manager at branches in Greater New Haven and Meriden. Member of merger team integrating branches acquired in two mergers. Solid sales resulted in selection as mortgage originator in 1985 for rollout of new mortgage subsidiary.
In 1989, completed Credit Department rotation and was assigned to assist with management of subsidiary bank which migrated into commercial workout position and merger into parent bank’s workout department. Developed tracking reports to identify the status of financial statements, collateral, taxes, insurance, and report deadlines. Negotiated parent bank’s largest Troubled Debt Restructure to avoid foreclosure and loss on a portfolio of residential investment properties.
Union Trust Company, New Haven, CT, 1978-1981
Cash Vault Manager
Managed new centralized cash vault serving 170 locations. Developed policies and procedures for high security area responsible for daily processing of up to $20 million dollars in cash. Managed 14 employees, including hiring and evaluation of staff. Prepared and managed operating and capital budgets.
SUMMARY OF EDUCATION
University of New Haven, West Haven, CT, Bachelor of Science in Marketing, 1978
University of New Haven, West Haven, CT, Graduate studies in Statistics and Economics 1980-1981
Quinnipiac University, Hamden, CT, 1988-1989, Certificate in Certified Financial Planning.
Formal management training programs at the former First Bank and Connecticut National Bank for management, operations, commercial and consumer credit.
Omega Commercial Loans to Business, ABA Commercial Lending Program, Omega Cash Flow Analysis.
Insurance and continuing education courses (former Producer).
ACTIVITIES:
Connecticut DeMolay Foundation, Inc., Board of Directors
G.R.O.W.E.R.S. Inc. Fundraiser Guest Chef
Cheshire Band Parents Association
Vice President, coordinator for Outback Bowl & Disneyworld performance, Fund Raising Chair, Chef