November 15, 2011
Inglewood engaged to provide workout banking assistance to a Northeast Ohio savings & loan.
Inglewood was hired to assist in the workout of a specific portfolio of business banking and real estate loans in the bank's criticized loan portfolio, helping the bank avoid staffing up the special assets department. We provided monthly reporting to meet internal requirements, and we engaged with the bank's clients to facilitate repayment plans. The portfolio was resolved within 12 months when the bank sold several of the loans, while other loans were repaid through Inglewood assisted liquidations.