ICBA News Release
FOR IMMEDIATE RELEASE
ICBA Selects Bank Property Advisors as Service Provider for Sale-Leaseback Solutions
Washington, D.C. (November 28, 2006)—The Independent Community Bankers of America (ICBA) selected Bank Property Advisors (BPA), LLC, Hinsdale, Ill., as an ICBA Preferred Service Provider for Sale-Leaseback Advisory Services.
"We're seeing a growing trend among community banks who want to use sale-leaseback transactions to put their non-earning real estate assets to other uses such as funding loans," said Dan Clancy, ICBA senior vice president of services. "ICBA has teamed up with a provider with the expertise, relationships and demonstrated ability to guide community banks in the right direction in the sale-leaseback marketplace. We're pleased to establish this new relationship with Bank Property Advisors."
Properly structured sale-leaseback transactions allow banks to realize value in non-earning real estate such as bank branches and convert equity in these assets into working capital. The typical sale-leaseback transaction involves a bank selling its property and then leasing it back from the buyer. The bank maintains control of the property after the sale.
Bank Property Advisors (BPA) is focused exclusively on developing customized sale-leaseback solutions for community banks and thrifts. BPA employs a unique analytical approach and a customized transaction execution process developed specifically for its community bank and thrift clients. This process includes tailor-made pro-forma modeling, transaction execution expertise, and preservation of long-term operating control.
"Unlike many other businesses, most banks are not rewarded for the value of their real estate," said Marty Madden, BPA chairman. "We're offering a way for community banks, and ICBA member banks in particular, to embrace sale-leaseback transactions and put all of their assets to work."
About Bank Property Advisors
BPA is focused exclusively on developing customized sale-leaseback solutions for community banks. Based in Hinsdale, Illinois, BPA strives to be the premier sale-leaseback consultant to small and mid-sized financial institutions. Through specifically tailored sale-leaseback products, BPA helps transform unrealized fixed asset value into increased earnings, capital and shareholder value. For more information, visit BPA's website at www.bankpropertyadvisors.com.