Richard Latrenta has more than 35 years of experience in the commercial banking industry. He has extensive experience in starting, implementing and managing bank operations, loan portfolios, investments, risk management, business development, data processing and branch sales and service. He also has led bank teams on the acquisitions of loan portfolios and failed banks that included all forms of due diligence, negotiation, implementation and legal/workout strategies.
Previously, Mr. Latrenta has been retained as an independent contractor with RSM McGladrey-Corvus Group on the FDIC RAC (Receivership Assistance Contractors) Program to provide all necessary closing support services for the managing of failed banks throughout the country as of February 2010.
Because of Mr. Latrenta experience within banking, and specifically in originating, underwriting and approving commercial loans, Mr. Latrenta offers a unique prospective for his clients in understanding how banks operate and expediting the approval process.
2005-Present: Mr. Latrenta serves as Managing Director of Greenway Consulting, LLC, a banking consulting and loan brokerage firm that originated over $100,000,000 in new loans for clients and member banks originating commercial mortgages, construction loans, mezzanine financing and working capital lines of credit. Greenway Consulting has become specialized in the procuring of Restaurant Financing over the last two years and has worked with both new and established Restaurateurs, and continues to innovate new financing techniques that maximizes cost efficiency for the borrower with adequate protection for the banks.
1999-2005: Mr. Latrenta was named President and Chief Executive Officer of Allegiance Community Bank in South Orange, NJ. At the time Mr. Latrenta stepped into his role, the bank was under an MOU (Memorandum of Understanding) with the bank regulators for poor management practices, earnings and capital. Mr. Latrenta implemented a strategic plan that generated profitability to the bank for the first time, within four months and eliminated the MOU within six months after becoming President & CEO.
1976-1999: Mr. Latrenta served as Senior Vice President/Senior Loan Officer at Interchange Bank in Saddle Brook, NJ. He was Chairman of the Internal Loan Committee and member of Senior Management, Asset and Liability Committee and Strategic Planning. In this capacity, Mr. Latrenta was responsible for all loan policy, originations and management of the loan portfolio, including risk analysis, concentration/diversification and underwriting procedures. In 1991, during the previous banking crisis, Mr. Latrenta implemented the strategy of acquiring various loan portfolios from the FDIC and RTC and led the acquisition team in acquiring failed banks. During that period, Mr. Latrenta acquired hundreds of millions dollars in loan portfolios and successfully managed this strategy without increasing non-performing loans and creating both short and long term revenue streams.