Meeting with Community bank CEO
Hi everyone, I am a new member to WSO!
I'm meeting with a CEO of a community bank with 300MM in AUM next week. Currently, I run a private credit shop with a focus in residential real estate 1MM in AUM. Also, I have some experience on the residential side I have 2MM of residential rental real estate under my name. Eventually, I want to acquire a small community bank, but I'm not capitalized to do so or have the experience. Should I ask for an opportunity to work with and under him? What questions do you guys recommend I ask him? I know a few members on the board other than him. I don't plan on making this goal happen overnight I'm a 21 M
Thank you for any feedback!
Based on the most helpful WSO content, it's great that you're taking the initiative to meet with the CEO of a community bank. Given your background in private credit and real estate, you could bring a unique perspective to the bank.
When it comes to asking for an opportunity to work with him, it's important to be tactful. You could express your interest in the banking industry and your desire to learn more about it. You could mention your long-term goal of acquiring a community bank and ask for his advice on the best path to achieve this.
As for the questions, here are a few suggestions:
Remember, the goal of this meeting is not just to ask for a job, but to build a relationship. Show genuine interest in his experiences and insights, and express your appreciation for his time and advice. Good luck!
Sources: Want to get into IB ... but Fortune 500 CEO (manufacturing) loves me, Journey from Worst Possible Applicant, Laid off, Depressed and Giving up..., Anyone have intel on Incentrum Group?, Everything I wish I knew in Banking
Why do you want to acquire a community bank
It seems like a logical next step after running a small credit shop
Appreciate your ambition, but some important info you need to understand. Banks are highly regulated. Running a private credit shop is nowhere near, like running a bank. You're looking to have multiple layers of compliance that's regulated by multiple different agencies and not to mention the state regs as well. Lending standards are scrutinized. Liquidity is scrutinized. Your also competing for deposits against the major players who can provide way better services. Unlike your private credit fund, you'll have so many fixed costs.
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