- Before
- “I spend four days rebuilding slides from email for a ninety-minute meeting.”
- Now
- Opens 17 pages already current, each line cited to the file, and builds the committee pack with one button.
One troubled loan, from new appraisal to committee vote
Calder Plains Bank meets on Thursday 15 October. Brenmar Plastics, a packaging maker in Grand Island, Nebraska, is item 1. Here is the week, screen by screen, in the working solution.
- 01Monday morning
Seventeen pages, already written
Priya Raman · Senior portfolio managerPriya opens a binder of 17 pages, one per loan on Thursday’s agenda, with 27 more names on the consent list. Brenmar’s page reads like the paper a committee member holds: grade 6 special mention, 7 proposed, $16.81M outstanding — and the story in five lines, each with its source in the margin, one click from the document.
“Trailing EBITDA $3.12M, a year ago $4.86M. Fixed-charge coverage 0.94x on the original schedule against a 1.20x covenant; payments are current only because of June’s interest-only modification.”
- 0208:14
A new appraisal lands, and is read in place
Watch list monitorSandhills Valuation Partners delivers the Grand Island plant appraisal: 64 pages, as-is market value $7,080,000, effective 5 Oct. The monitor reads it, matches it to the first mortgage that secures the term loan — last valued at $9,500,000 in March 2022 — and recomputes coverage. The grade recommender re-tests Brenmar.
“Term loan 1.10x → 0.82x · whole relationship 1.10x → 0.96x · 1.14x with the guarantee.”
- 03Version 14
The page rewrites the line it changes
Watch list monitorLine 5 turns red: the new value is down 25%, and the $8.64M term loan is covered 0.82x, a $1.56M shortfall. The collateral table follows, the margin note reads “Plant appraisal · today 08:14”, and the rail records what the document changed. Nobody rebuilt a slide.
“Line 5 and the collateral table rewritten · term loan 1.10x → 0.82x.”
- 04Changes since 17 Sep
What moved since the committee last read it
Daniel Okafor · Chief Credit OfficerOne click marks the page like a redline against the version the committee read on 17 September: the old sentence struck through, today’s underlined. Four of five lines, three collateral values and one plan item have changed. The chair reads what is new, not what he read last month.
“Tell me what changed since last month, not what I read last month.”
- 05The full file
A proposal, with every reason cited
Grade recommenderBehind the page is Brenmar’s full file: ten changes since the last review, each with its source. The grade recommender proposes a downgrade to 7 substandard, staying on accrual, and lists why — inadequate debt service coverage, inadequate liquidity, current only because of the modification, sponsor support weaker, a collateral shortfall — with the allowance effect and the Special Assets rule.
The recommender proposes. It never sets a grade — the committee does.
- 06Unmasked
Current only because of the modification
Modification screenSince July the term loan pays interest only; $110,000 a month of principal is deferred to December. Cash available for debt service is $2,990,000: it covers the interest-only schedule 1.61x, but the contractual one only 0.94x. The covenant table shows fixed-charge coverage and senior funded debt to EBITDA in breach, tested on the original terms.
A modification is never shown as a cure: coverage is always recomputed on the original schedule.
- 07Plan checked
The workout plan, checked against the file
Evan Lindqvist · Relationship managerThe plan the committee set on 17 Sep, item by item: sponsor equity of $1.5M overdue, the borrowing base certificate open, one of two replacement contracts signed. Evan answers one update form instead of six emails — Pinecrest Pet Nutrition signed a three-year supply agreement, about $4.2M a year from February 2027 — and four new actions are proposed for Thursday.
“I’d rather send one update than answer six emails.”
- 081 min 46 s
The committee pack, built from the file
Committee pack writerPriya presses Build the committee pack. Six agents gather 214 items on 41 names, spread 19 statements and 23 certificates, check payments, overdrafts and lines, recompute every modified loan on its original terms and test the facts against the 1–9 scale: 8 decisions, every reason cited. Out come 17 one-page summaries, a consent list of 27 and an 86-minute agenda — 44 pages.
- 09Thursday, 14:00
The committee votes, item by item
Watch list committeeDaniel Okafor chairs; Helen Marsh, Victor Ames and Grace Whitfield vote, with Theresa Quon and Rosa Delgado attending. Brenmar is downgraded 6 → 7, accruing, Special Assets co-manages, 4–0. The minutes are drafted as Priya records each decision, then sent to Daniel to sign.
The pack writer drafts minutes from the recorded decisions only.
- 10Every morning
Every decision and action, followed up
Priya Raman · Senior portfolio managerEach decision and the actions it set land on the name’s page and in one log: 14 open actions across the watch list, 6 overdue. The agents check each against the file and remind the relationship manager each morning, so the next committee starts from what actually happened.