MBA 713 Hinson Assignment 3-1

MBA 713 Hinson Assignment 3-1 - Date: January 23, 2010 To:...

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Date: January 23, 2010 To: Carol J. Pitman, MAOM, SPHR From: Jamie N. Hinson, BS RE: Advantage Bank’s Top Talent Advantage Bank is an eight hundred million dollar community bank known for its savings and mortgage loan products. With its main headquarters located in a small town called Cambridge, Ohio, Advantage Bank has been in the industry since the year 1970. Not only are there services located in Cambridge, Ohio, there are also banking services located in the following areas: Dover, Ohio Uhrichsville, Ohio Columbus, Ohio Cincinnati, Ohio Marietta, Ohio Belpre, Ohio Byesville, Ohio Vienna, West Virginia Covington, Kentucky Florence, Kentucky London, Ohio Washington Court House, Ohio Within each of these areas, there are approximately twenty-eight banking services branches open to for customers. Among these branches consists of approximately two hundred and ninety-two employees. When the stock market crashed in 2008, Advantage Bank was being considered a candidate for a merger/acquisition with First Place Bank, whose headquarters is located in Warren, Ohio, (First, 2009). Due to the worries with the economy, the merger/acquisition with First Place Bank was terminated and Advantage Bank was left to pick up the pieces of the broken down corporation. Not only did the entire Bank perceive a negative morale, many positions were terminated and/or abandoned in the process of readying for the proposed merger/acquisition. This left many departments short-handed and unable to perform and function to the best of their abilities. Over the past year since the termination of the merger/acquisition drama, Advantage Bank’s Senior Management, Department Managers, and the Human Resource Department has worked very hard to improve the morale of the corporation. There are many ways that this strategy has been tackled. The first step that was taken included hiring new Board of Director Members, a new Chief Executive Officer, a new Chief Financial Officer, and a new Chief Credit Officer that were appointed to help adhere to the Bank’s strategic plan.
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The next step that the Bank took in order to improve morale and functionality included replacing some of the terminated and/or abandoned positions for those departments that were affected. Although, not all of the positions were replaced, leaving many departments still short-handed
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This note was uploaded on 10/24/2010 for the course MBA 713 taught by Professor Whitmer during the Spring '10 term at Otterbein University .

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MBA 713 Hinson Assignment 3-1 - Date: January 23, 2010 To:...

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