David Eberstein Email & Phone Number

Northridge, Ca

Responsible for optimizing investment income, managing operating expense base of $12 million, pricing of commercial real estate loans, and the managing of the accounting department, external auditor and investment broker relationships. Accomplishments:• Instituted Treasury Management disciplines which increased investment income from $15K to over $200K on an annualized basis.• Forecasting model results were not indicative of the current operations. Reengineered the model and assumptions so the results could be used to strategically manage the organization.

Hollywood, Ca

Provided financial analysis for all areas of the credit union. Accomplishments:• Negotiated with VISA for branding rights, which resulted in a payment of $5M to the credit union from VISA.• Prepared due diligence on indirect vehicle loan purchase which increased asset yield by 1.50%.

Pasadena, Ca

Charged with growing balance sheet—loans and shares—and improving profitability for credit union, while enhancing ROA and net worth ratio. Directed accounting, facility, and HR, as well as cultivating productive relationships with external auditors, regulators, investment portfolio advisors, and employee benefit vendors. Oversaw budget processes, including operating expenses of $13M; investment portfolio of $150M, as well as liquidity. Accomplishments:• Upon beginning tenure with organization, required to respond to credit union’s poor regulatory exam with the most serious issue involving excessively high operating expenses. Reduced operating expenses by $1.5M, lowering expense ratio from 4.25% to 3.50%.• Increased yield for investment portfolio from below peer average to top 2% of peer group in 12 months by prudently purchasing investments with higher interest rate risk (IRR) profile. Actively managed IRR profile, generating $10M+ of incremental investment income above the peer average over 5 years.• Performed comprehensive evaluation to determine feasibility of selling headquarters and purchasing new facility in response to increasing space shortage and decline in net worth ratio. Efforts resulted in gain of $2M on sale of headquarters; new headquarters facility reduced operating expenses by $150K annually. • Spearheaded movement of plastic card servicing to new vendor, resulting in reduction in operating expenses of $500K annually and implementation of much easier system to use for employees, which improved service for members. • Developed 5-year forecasting model that demonstrated that the current low interest rate environment would reduce credit union’s net income, resulting in creation of new business strategies on loan originations. New strategies ensured that credit union maintained higher ROA in the future without regard to interest rate levels. My efforts educated the Board of Directors on the importance of strategic planning.

Ventura

Held accountable for guiding accounting and facility areas, along with external relationships with auditors, regulators, and investment broker/dealer. Provided leadership to asset liability committee (ALCO) in setting agenda, reviewing current/future financial position of organization, and setting overall strategic direction. Created and managed operating expense budget of $15M, and oversaw $200M investment portfolio and short- and long-term liquidity. Contributed significantly to decision making by Board of Directors through individual interactions, as well as involvement at committee and board meetings.Accomplishments:• Strengthened communication between departments to enhance efficiency of new product and marketing campaign launches by expanding participation in ALCO, which shortened time to members by 6 weeks.• Identified and invested $8M of non-earning/excess cash into several investment securities, generating $500K in investment income and improving ROA by 10%.• Played critical role in developing business strategy for originating real estate loans for balance sheet, reviewed, discussed, and approved by Board of Directors. New strategies improved ROA by an average of 20% over the next five years compared to previous strategies.

San Dimas, Ca

Maximized financial performance for clients for 40+ assigned credit unions, while prudently leveraging IRR by formulating various business strategies, such as loan product development and pricing, investment yield optimization, and share pricing. Sought potential fee opportunities by coordinating individual credit union results with other departments. Marketed organization’s services at conferences.Accomplishments:• Attracted business from largest credit union in Hawaii—effectively expanding organization’s business model in that state—by providing technical assistance regarding IRR, including analysis and ideas to credit union’s Board of Directors, Chief Executive Officer, and Chief Operations Officer regarding ways to improve financial performance. Efforts resulted in organization receiving new business from largest credit union, along with additional opportunities in Hawaii.• Mentored new consultant on behalf of financial solutions group regarding IRR and formulation of business strategies for member credit unions. Worked with consultant regarding best practices for analyzing balance sheet and optimal approaches for recommending business strategies to credit unions. Consultant exceeded expectations, covering own territory in 6 months and was promoted in 12 months.• Generated increase of 30 to 40 clients or 33% over 18-month period, along with 30% increase in fee revenues for client base by promoting benefits of consultant group’s analyses at various conferences.

Greater Seattle Area

Charged with analyzing potential merger candidates, communicating with bank staff at all levels regarding any deal-breaking issues and reporting findings to Senior Executive Vice President during onsite due diligence. Measured strategic balance restructures through development, updating, and maintaining of 5-year model; interfaced with all business units to create and maintain a 5-year strategic plan. Cultivated productive relationships with investment banker and auditor on all merger candidates and issues. Accomplishments:• Developed 5-year strategic model and plan to assess combined strategic direction of all business units; consolidated strategic plans from each business unit into one overarching plan to best determine if organization would meet earnings per share goals.• Developed and instituted financial benchmarks to more effectively evaluate merger candidates using consistent criteria.• Orchestrated process to identify buyer for bank subsidiary in South Dakota, developing marketing materials and contacting potential candidates. Identified buyer which eliminated need for $500K broker fee.

Bachelor'S Degree, Accounting And Finance

Master Of Business Administration (Mba), Finance