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Article: Society bucks tide, builds media loan portfolio. (Society Corp.)
- Article from:
- Crain's Cleveland Business
- Article date:
- December 7, 1992
- Author:
CopyrightCOPYRIGHT 1992 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Society Corp. is scooping its competitors when it comes to ??? to media companies.
Most banks are shying away from broadcasting and publishing concerns because many were burned on media loans once the economy softened and the overinflated value of media properties plunged. But Society isn't backing off.
This contrarian approach so far has paid off for the bank, led in its efforts by Kathleen Mayher, a 34-year-old senior vice president. Ms. Mayher oversees a portfolio of $370 million in media loans outstanding. And the bank has commitments to lend another $150 million, so near-term growth seems assured.
"We should be well over the $400-million mark (in ...