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Jerry Bishop Retires-First Federal Leasing/First Bank of Richmond
Jerry and Judy Bishop (As I write this story, Jerry did not have a final chance to proof it, as they are having a “snow emergency” in Indiana. They closed the bank early today and expect not to open tomorrow as it is predicted they may have 24 inches of snow tomorrow. They don't know whether they will be open Friday, Christmas eve. editor) Many bankers look at making a loan or a lease as a gamble, which is why Jerry Bishop enjoys his favorite "adult Disneyland," Las Vegas, Nevada. He likes the shows, the food, and the chance to compete with the professionals. "Las Vegas and leasing have one similarity, they both rely on 'Risk versus Return'," he says, " Many travelers to Las Vegas never find the games which actually give them a chance to win and succeed (common sense always being the guide); and I find some similarities in the leasing industry. "There are those who are successful in small ticket leasing and those who are not, Jerry explains. " Unfortunately, swimming up river in leasing, is like trying to beat Las Vegas at their own game, and failure is usually the end game. In the coming months, Jerry hopes to convey more thoughts about “... how to be successful in small ticket commercial leasing, and learn the benefits of swimming down stream. It's all risk versus return!” The end of this month he is leaving First Bank of Richmond, Richmond, Indiana, doing business as First Federal Leasing, where for thirteen hears he was senior vice-president of the bank and chief executive officer of First Federal Leasing. This was a two year succession plan, which allowed Paul Witte the opportunity to ease into the position of CEO. Paul has been managing the leasing division since August of last year. Jerry feels very comfortable leaving First Federal Leasing " in such capable hands." Prior to First Bank of Richmond, Jerry was employed at Gem Savings (the largest savings and loan in Ohio at that time). He opened their Consumer Finance Division, spending ".... fifteen good years developing their programs. "Prior to that, he was the president of the McCall Magazine Credit Union for fifteen years. Jerry joined First Bank of Richmond in 1990 with the concept of helping a community bank develop a local leasing operation into a regional, and perhaps become a national player. Within three years, FFL was experiencing significant grow, and was operating nationally. He gives most of the credit for his success to his staff who made personal commitments to originate, underwrite and services leases on a national basis. Success was found by carefully selecting independent brokers (partners), who were equally interested in building a long term relationship. A common sense approach to lessee's situations, and ability to own and manage a business took president over volumes, or credit scoring. Seeking better credits became the goal of FFL and their business partners who built their businesses together. Very simple but it worked ! “I am going to devote considerable time to developing my consulting business over the next year, "he concludes.” I see many leasing opportunities that are worth pursuing, and some will undoubtedly include travel with my wife Judy.” In the coming months, Jerry hopes to convey more thoughts about how to be successful in small ticket commercial leasing, and learn the benefits of swimming down stream. It's all risk versus return ! If you want to wish him a good-bye, you can still reach him at |
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