Sageworks, Inc. names David Phillips Regional Director Financial Markets, responsible for States in the Northeast.

Sageworks, Inc., a company offering web based solutions to community banks to improve lending portfolio management, has named David Phillips to the position of Regional Director Financial Markets in seven states from New York to Maine.

Raleigh, NC (prHWY.com) February 29, 2012 - Sageworks, Inc., a company offering web based solutions to community banks to improve lending portfolio management, has named David Phillips to the position of Regional Director Financial Markets for the following states: New York, Connecticut, Massachusetts, Rhode Island, Vermont, New Hampshire and Maine. This should be of particular interest to bankers that are feeling the pressure from examiners to institute new procedures for stress testing and ALLL (Allowance for Loan and Lease Losses). Additionally, banks are under increased scrutiny regarding their underwriting, risk rating and loan administration methodologies.

The next few years promise to continue to be challenging for banks, both from a regulatory and economic standpoint. Shane Byrd, V.P. Financial Markets says, "Sageworks, Inc. has the tools to bring accuracy, consistency and efficiency to the challenging tasks of managing bank's loan portfolios." Mr. Byrd continues, "David did an excellent job representing Sageworks, Inc. in Florida and Georgia in 2011, building strong relationships with bankers and demonstrating the value of our products. I am confident that bankers in New England and New York will appreciate David's passion for helping community banks to be more profitable and efficient."

David will be traveling extensively in the territory and looks forward to meeting bankers to discuss the issues that challenge them the most. A brief meeting with David will help to uncover manual processes that can be streamlined or automated. He will be contacting bankers by phone or email in the near future.

More than 650 banks have discovered that Sageworks' AnalystTM product is more than just spreading software. Combining Sageworks' web-based AnalystTM, CertaintyTM and MonitorTM tools with the added advantage of core integration, gives you a comprehensive platform from which to analyze and risk rate loans, as well as manage documents, covenants and client correspondence. The process covers the entire life cycle of each credit. SuretyTM and ClarityTM, Sageworks' whole-portfolio tools, make ALLL management and portfolio stress testing a breeze, by automating retrieval of data from the bank's core, FDIC and Federal Reserve, and centralizing calculation, analysis and documentation into a single, seamless system. The result is clear, concise documentation ready for presentation to board members and examiners alike.

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Tag Words: allowance calculation, alll, stress testing, loan administration, bankers tools, software, global cash flow, credit analysis, risk rating

Categories: Banking

Press Release Contact
David Phillips
Sageworks, Inc.
5565 Centerview Dr.
Raleigh, NC 27606
(o)(919) 851-7474 xt. 601
(f)(866) 625-8361

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