Curriculum Vitae
Of
Steven I. Fried

EXECUTIVE SUMMARY 

Mr. Fried holds a B. A. degree in Economics and Business Administration from Rutgers University, and attended the Bernard M. Baruch School of C.U.N.Y., majoring in Finance and Investments.  In 1968 he joined the Bankers Trust Company, 16 Wall Street, New York until 1974 when he joined Union Bank, Los Angeles. In 1979, he entered the field of Independent Banking, specializing in rehabilitating troubled banks.  He has been the President and Chief Executive Officer of three different independent banks and a policy-making officer of financial institutions for over twenty years.   He has spoken before numerous industry, consumer and banking groups on the subject of banking, standards and practices, and business finance and his expertise has earned him guest appearances on Fox News, the Bill Handel Show (KFI Radio) among others as well as media interviews and presentations for attorneys on finance and lender liability. 

In 1992 he was named President of the California Independent Bankers Association, the state association representing 260 banks across the state of California.  Mr. Fried is the sole owner of Capital Finance, a licensed and bonded commercial finance and consulting concern established in 1987 providing expert witness consulting and testimony on the subject of banking, commercial finance, factoring, equipment leasing, real estate finance.  He has  consulted on behalf of some of the world’s largest banks and corporations and in more than 50 cases. 

BACKGROUND 

Owner - Capital Finance (1987-present).  Capital Finance is a Bonded and Licensed California Finance Lender.  Established, financed, marketed this commercial finance company specializing in Expert Witness Testimony and consulting to banks on the improvement and secondary marketing of loan portfolios, collection and/or outplacement of troubled borrowers and loans, SBA financing, Accounts Receivable financing and Factoring, and loan placement.  Represent commercial borrowers on obtaining new financing and the restructuring of existing debt.

 Executive Vice President and Chief Credit Officer – First Community Bank (1998-2000).  Hired to insure safety and soundness of the loan portfolio for this $140 million, seven-branch bank.  Responsible for the administration of credit quality, loan portfolio growth, compliance, credit policy, credit training.  Supervise, directly, nine lenders and six staff credit personnel.  Personally responsible for the structure, handling, negotiation and participation of large, complex credit facilities. 

Accomplishments

• Received the highest regulatory rating for loan portfolio quality at examination.

• Initiated and established equipment leasing department to maximize Bank’s after-tax profits.

• Initiated and established Asset-based lending department.

• Established management training program to assist current loan officers and train new loan officers for eventual assignment to branch offices.

• Established uniform credit analysis programs for analyzing loans and presentation to management and the loan committee.

 President and Chief Executive Officer ‑ Western United National Bank (1988‑ 1993).  Full responsibility for the turn‑around and improvement of this wholesale bank.

Accomplishments

• Increased asset size 150% in less than two years.

• Established SBA Loan department, which, after two years became the 17th largest in Los Angeles County and represented $800 thousand per year in earnings.

• Established Accounts Receivable Financing department which generated average yields of 21%‑24% per annum.

• Rewrote all policies and procedures, including new policies required by recent legislation, to regulatory standards.

• Responsible for the Bank's only profitable operations in its 10‑year history.

• Successfully prosecuted Bank's recovery of a $2 million dollar claim against a bonding company and completed two public offering documents. 

 President and Chief Executive Officer ‑ Empire National Bank (1985‑1987).  Full responsibility to restructure this severely troubled institution.  Increased the ratio of non interest‑bearing deposits from 13% to 29% of total deposits while reducing staff by one‑third and increasing fee income.  Successfully established Accounts Receivable Financing department, which became profitable in less than six months.

 President and Chief Executive Officer ‑ Inland National Bank (1983‑1985).  Took over this bank after it had been served with a Cease and Desist Order.  Restructured all loan, deposit, and operational functions of this bank resulting in the removal of all regulatory sanctions and positioned the Bank for sale to a $140 million bank for twice the adjusted net worth.  Established a Loan Production Office in Beverly Hills, middle market Accounts Receivable financing department, insurance marketing affiliate and business development department.  Personally acquired $5 million in new loans and $3 million in new deposits within 9 months.

 Prior employment as Senior Vice President with American City Bank, Century City, California (1979‑1983). Total of seven branches; $425 million in assets; 425 employees. Fully responsible for all administrative banking services (e.g. commercial and consumer loans, international department, six staff departments, and other areas as designated by the Board of Directors). Coordinated program activities, determined procedures, and set up bank policies. Approved and granted lines of credits and internal lending authorities.  Personal lending authority of $2 million.

Commercial Loan Administration ‑ Four years as Vice President (Regional Head Office), Union Bank, Los Angeles, California (1975‑1979). Responsible for all commercial lending with a staff of 85 personnel.  Personally responsible for administration and management of the single largest account in that office (annual borrowing volume of $65‑million).

Other Banking Experience ‑ Six years employment as Assistant Vice President and Assistant Treasurer with Bankers Trust Company, New York, New York (1968‑1974).

EDUCATION ‑ Rutgers University, BA, 1968, Major: Economics and Business Administration; Graduate Training City University‑ Bernard M. Baruch School, Major: Finance and Investments.

 ACTIVITIES

Ø  Chairman/President of the California Bankers' Council‑ State organization for California of the Independent Bankers Association of America representing 260 California banks.

Ø   Region IX Chairman for the IBAA Political Action Committee (California and Hawaii).

Ø   Board of Directors (former) for the Commercial Finance Conference of California.

Ø   President, Financial Service Group, City of Hope

Ø   Named Small Business Advocate of the Year by the U. S. Small Business Administration

Ø  Testified before the Securities & Exchange Commission, State Senate Banking and Finance Committee and as an expert witness.

Ø   Acted as the exclusive loan agent for SBA loans for four separate Southern California Commercial Banking and Savings Institutions.

Ø     Principal in Software Development Company that wrote and leased specialized SBA and Construction Loan Accounting software to Banks in 12 Western States.

Ø  Senior Consultant to Valley Economic Development Center, Inc., the leading non-profit intermediary in Southern California.

Ø   Teach Business Management at West Coast University

Ø   Member of Round Table Group Scholars Fellowship

Ø   Member of Gerson Lehrman Group Councils

Ø   Member of Coleman Research Group Executive Forum

Ø   Member of Expert Resources, Inc.

Ø   Bonded - Hartford Insurance Company

Ø   Licensed California Commercial Finance Lender

Ø   Advisory Director - Sunrise Community Bank

Ø   Panelist - “Lender Default on Commercial Construction Loans: Legal Strategies for Mitigating Developer Losses and Negotiating New Financing” presented January 8, 2009 by Strafford Publications, Inc.

Ø   Master Broker - Sunrise Community Bank

Ø   IMS Expert Services Elite Program

Ø     Advisory Director - Sunrise Community Bank

Ø    Panelist – “Lender Liability: Evaluating, Minimizing and Defending Claims, Defending Against Attacks on Loans in Workout,
       Default and Bankruptcy” presented August 12, 2009 by Strafford Publications, Inc.

Ø    Panelist – “Lender Liability: Evaluating, Minimizing and Defending Claims, Defending Against Attacks on Loans in Workout,
       Default and Bankruptcy” presented March 16, 2010 by Strafford Publications, Inc.

Ø     Directors’ and Loan Officer Training for Sunrise Community Bank, Palm Desert, California

 SEMINARS

Ø  Federal Deposit Insurance Corporation – Bank Simulation Course.

Ø Rapport Leadership International – Graduate of Leadership Breakthrough and Power Communication.