Case Study: Cadence Bank, N.A.
Challenge: Cadence Bank, N.A. is a well known and respected regional bank with over $2 billion in assets. In this environment of a fluctuating economy and heightened regulatory oversight, it is very important to the Board and the Leadership Team to address the future of the bank in an in-depth and significant way by the development of a thorough strategic plan.
Results: Reynolds Consulting, LLC was asked to develop a custom approach unique to the needs of the bank and to facilitate a process that incorporated the Board, the leadership team and key market executives at various stages of the planning process. The process examined current market and financial conditions, determined the future brand identity and values of the bank, which led to the bank’s selection of key intitiatives to assure they reach their goals for the next critical 18 months as well as be clear about where they are going long term. The bank was consistent in its high regard for its fiscal responsibilities and standards as it identified over 1/3 of resources needed for new projects from current operations and will be phasing other activities in over time in a critical path fashion. Implementation tools such as measures, timeline and communication plans were also included to aid management in assuring forward progress and accountability.
“Our rapid increase in size and footprint, followed by a deep economic recession, caused us to realize that a fresh look at our business model was something we needed to do. We chose to approach that task through a revised strategic plan. After considering several choices, our Board selected Reynolds Consulting, LLC of Kansas City and Nashville to lead the process. We’re delighted with our results which included in-depth discussions of our culture, branding, markets, delivery systems, products and customers. All of these are captured in our new plan which outlines clear strategic initiatives, timetables and responsibilities which support our financial objectives.
Margaret Reynolds’ ability to introduce key topics and move us through these discussions to an organized conclusion was critical to our success. We found her to be extremely knowledgeable, organized, and highly skilled at getting our group to focus on those points that would create value for our bank.” — Lewis F. Mallory, Jr. | Chairman and Chief Financial Officer | Cadence Bank, N.A.