Bank turnaround expert launches new firm - Atlanta Business Chronicle:

http://www.tmidb.com/Education/Academic_Competitions/
Frawley is CEO of The consulting firm was createx in September from the remains of the formeer Frawley joined that bank as CEO in the fall of with the stated goal of turningarouned Georgia’s fastest-growing bank. In that had over-extended on several large, souring real estat e loans. Frawley and his team were hirefd by management to save thelisting bank, returning to Atlants from Alabama. Frawley is best knowbn for his turnaroundof Blountsville, Ala.-basedr . In 2002, Frawley took over a bank whose priotr CEO had recently been indicted for had severalregulatory cease-and-desist agreements and roughly two dozehn lawsuits actively pending.
Four yearsz later, the bank sold for twicse its book value tocompetitor , and was consideredx one of the industry’s notable recent turnarounds. But at problems began to outstrip theturnaround team’ss ability to keep pace. Two weeksx before the bank was Frawley described himself in an interviesw with Atlanta Business Chronicle as a pilot on an airplan e crashingto Earth. “I don’t know when we’rde going to hit the Earth, if we’ll hit soonefr than I expect or someone else will make that decisiojfor me,” said Frawley at the “But I’m at the control s and I know we’rse descending.
” Frawley was widely credited in banking circles with reducin g Integrity’s cost to the deposit insurancew fund, when it was seized by regulatord on Aug. 29. Frawley and his 15-member team are working with a smallo group ofclients — all banksz with some form of balance sheet troubled — in the Southeast. There’s no shortagee of demand. Georgia, along with Florida, is the Southeastern epicentef for the excesses during the residential construction boom earliedrthis decade.
Georgia’s growth was lots and over-developmenr of land in the pipeline for new Florida sprouted condos and rampantprice Frawley, a former of Currencty regulator and executive, declined to discusd his specific clients, but said banks from a few hundree million in assets to severapl billion qualify as possible clients. Roarkm Capital Partners L.P. and related entityh are seeking $5.8 million in unpaid loan proceedd froman Indianapolis-based company, according to a complain filed Nov. 18 in U.S. District Court in Atlanta. In the Roark Capital alleges Richard M. Hall, Roberg L. Gregory Jr. and have not repaidr $5.8 million in loan guarantees on $14.
9 milliob backed by the local privateequity firm. In Marcgh 2007, LLC, a company owned by Hall, , borrowed $14.9 million from , backed by Roarj Capital’s guarantees the loan wouldx be repaid. If the borrower the owners of AceHoldinb — the defendants — would owe Roark Capitalo 40 percent of the guaranteed and legal fees. On Nov. 10, the bank notified Ace Holdintg it had defaulted under the loan and as of thefilinyg date, Roark Capital had not been WHM Investments LLC, a Buckhead-based investment company, has filed for Chaptee 11 bankruptcy protection, according to documents filedf Oct. 31 with the local federalo bankruptcy court.