FIRM

Reagan Consulting, Inc.

Seven Piedmont Center, Suite 417
Atlanta, GA 30305
(404) 233-5545
Fax: (404) 237-5996
E-Mail: [email protected]
Web Site: www.reaganconsulting.com

PRINCIPAL(S)

Robert W. Reagan, CPCU

Shirley A. Lukens, AAI

Kevin M. Stipe, CPCU
Thomas T. Doran
Angela B. Bemiss, AAM
James M. Campbell, Bank Insurance Consulting

Robert C. Smith, Bank Insurance Consulting

Garry E. Hill, Jr., Associate Consultant

Andrew M. Shrout, Associate Consultant

SERVICES/AREAS OF EXPERTISE

Reagan Consulting provides a full range of consulting services including mergers & acquisition appraisals of fair market value, long-range strategic planning, ownership perpetuation planning, value enhancement, financial management, as well as other services. Our consultants have worked with some of the leading insurance agents and brokers in the country, including 50 of the 100 largest. Additionally, we�ve served dozens of financial institutions including money center banks, and regional and community banks.

Independent Agents and Brokers Services

Principals of Reagan Consulting have provided consulting services to hundreds of the strongest agents and brokers in the United States, including more than 50 of the largest 100.

• Appraisals of fair market value
• Mergers and acquisitions

• Representing sellers

• Representing buyers

• Facilitating mergers

• Strategic business planning
• Financial and operations reviews

• Due diligence prior to closing

• Performance analysis

• Value enhancement consulting
• Ownership perpetuation planning

• Key employee compensation and equity plans

• Financial management consulting

• Industry research

• Workshops, seminars, and speaking engagements

Bank Insurance Services

Reagan Consulting has provided consulting services to more than 50 banks in the United States and Canada. Our primary focus is to help banks establish and manage successful insurance businesses.

• Opportunity assessment
• Strategy development
• Operations improvement
• Acquisition assistance and representation
• Joint venture assessment and development
• Merger implementation
• De novo assistance
• Industry research

In addition, Reagan Consulting has been a leader in researching the insurance strategies and results of banks, agencies, and brokers. Here are examples of the industry research we've performed:

Study of Leading Banks in Insurance

In 1998, Reagan Consulting was engaged by the

American Bankers Insurance Association (ABIA) to conduct the most comprehensive study yet performed of the bank/insurance industry. Our research defines the current state of this industry and identifies the strategies and practices that most correlate with success. The study was first published in October 1998 and includes information provided by hundreds of U.S. banks, including money-center banks and small community banks. Additionally, we conducted detailed interviews with executives from the banks that have achieved the greatest success in the insurance business.

The results of this research should be valuable to all bank executives seeking to develop, validate, or refine an insurance strategy. The study, entitled The Study of Leading Banks-In-Insurance, will be conducted annually, with new results and an analysis published each fall.

Best Practices Study

In 1993, Reagan Consulting was asked to develop and perform an analysis of the operating characteristics of the leading insurance agencies in the United States. The Best Practices Study, which is now performed annually in conjunction with Independent Insurance Agents of America, looks at the business practices of leading insurance agencies and compiles their confidential operating data to create benchmarks that have become the standard by which other agencies measure, evaluate, and contrast their performance.

Access to the average operating results of best-in-class performers has allowed numerous other organizations to evaluate and enhance their own operating performance.

BIOGRAPHY OF PRINCIPAL(S)

BIOGRAPHY OF PRINCIPALS

Robert W. Reagan, CPCU

Bobby graduated with high honors from the University of Tennessee where he received his Bachelor and Master of Science degrees in Industrial Engineering. Upon graduation he joined a southeastern regional insurance brokerage firm as a commercial property and casualty producer. During his ten-year career with the firm, he served in a variety of capacities including Chief Operating Officer.

Bobby joined the consulting firm of Hales & Associates in 1984, and opened the Atlanta office in 1985. He became president of the firm in 1987, and was elected chairman and CEO in 1992. Reagan Consulting was formed as a result of the reorganization of Hales & Associates in April of 1995.

Bobby received his CPCU designation in 1980. He has addressed more than 100 different industry groups and associations, and has had articles published in the majority of the industry�s trade publications. Reagan Consulting is built on the belief and commitment that you can accomplish everything in life that you want if you�ll help others accomplish what they want.

Kevin M. Stipe, CPCU

Prior to joining Reagan Consulting in 1991, Kevin worked in the currency trading division of Citicorp�s North American Investment Bank in New York, and later as a currency trader for Wachovia Bank in Atlanta. He holds an economics degree from Auburn University.

Kevin earned the CPCU designation in 1995. He is a frequent contributor to various insurance industry publications and is a regular speaker for industry trade groups and associations. He also wrote the Best Practices publication The Agency Self Diagnostic Tool for the Independent Insurance Agents of America. As a principal of Reagan Consulting his areas of expertise include financial consulting in areas of valuation, mergers and acquisitions, agency value enhancement strategies, ownership perpetuation planning, and strategic planning.

Thomas T. Doran

Tom joined Reagan Consulting as a consultant in February 1993. He holds an undergraduate degree in Computer Information Systems and a Masters of Business Administration from Georgia State University. Before joining Reagan Consulting, he worked in the computer industry, both as a software developer and as a management consultant.

As a principal of Reagan Consulting, his areas of expertise include financial consulting in areas of valuation, mergers and acquisitions, ownership perpetuation planning, agency valuation enhancement, and strategic planning. Tom has participated in writing and editing The Best Practices of the Leading Independent Insurance Agencies in the United States, an annual study commissioned by the Independent Insurance Agents of America, since the study�s inception in 1993. In addition, he co-authored 1998�s Best Practices in Business Perpetuation and Management Succession. He is a frequent contributor to various insurance industry publications and is a regular speaker for industry trade groups and associations.

Angela B. Bemiss, AAM

Angi joined Reagan Consulting in 1995. She holds an undergraduate degree in Business Education and Accounting. She also holds a Masters of Business Administration that included extensive research on the topic of "Mergers and Acquisitions in Insurance Agencies." Prior to joining Reagan Consulting, Angi was Chief Financial Officer for two of the most successful regional brokerage firms in the Southeast.

As a principal, her areas of expertise include financial management; financial consulting in areas of agency valuation, mergers and acquisitions, with focus on due diligence prior to closing; agency operations management; employee stock ownership plans; and automation systems.

James M. Campbell, Bank Insurance Consulting

Jim has more than 16 years of experience in the financial services and management consulting industries. Prior to joining Reagan Consulting, Jim was the director of consulting services for a $2 billion business services organization and senior manager, financial services consulting group, Deloitte & Touche, LLP. At Deloitte & Touche, he was responsible for directing strategy development and large-scale reengineering projects for clients such as Citicorp, US Bancorp, and First Chicago. Prior to his consulting career, Jim served for five years at SunTrust as assistant vice president, trust and investment management services.

As a principal of Reagan Consulting, Jim directs consulting engagements for many of the largest banks in the United States, as well as serving many regional and community banks. His areas of expertise include bank insurance strategy development and implementation, financial consulting related to business valuation, pre-acquisition due diligence and negotiation, strategic planning, and business process reengineering. Jim is a graduate of the Georgia Institute of Technology and earned his MBA from Georgia State University. He has been a frequent speaker and publisher on profitability improvement issues in the financial services industries.

Garry E. Hill, Jr., Associate Consultant

Garry, the newest member of the Reagan team, joined the firm in early 2004. As an Associate Consultant, he works closely with other consultants on annual appraisals. as well as contributing to the analysis for the firm's annual studies, including the ABIA A Study of Leading Banks in Insurance.

Previously, Garry spent five years in Commercial Banking as an Analyst with a southeastern regional bank, and more recently was an Associate with a global financial services firm focused on technology and life sciences. A native of Atlanta, he holds a BA in Economics from Washington and Lee University.

Shirley A. Lukens, AAI

Prior to joining Reagan Consulting in June 1998, Shirley served as Vice President of Industry Affairs for the Independent Insurance Agents and Brokers of America (IIABA). During her 12 years at IIABA, she conceived and launched the association�s highly regarded Best Practices initiative and was responsible for the development and delivery of all projects, programs, products, and services designed to help members improve their business performance. In addition, she served as an active participant and key liaison to the various groups responsible for the development and implementation of EDI standards within the industry.

At Reagan Consulting, Shirley is responsible for the research and development of the various Best Practices topical studies and the annual Best Practices Study Update, joint projects of Reagan Consulting and IIABA. Her areas of consulting are focused on the use of Best Practices data and materials, and the transfer of skills to help agencies adopt a continuous improvement process. Shirley is a frequent contributor to insurance industry publications and a popular presenter of Best Practices workshops and seminars in agencies and at industry meetings and conventions.

Andrew M. Shrout, Associate Consultant

Andrew is a new member of the Reagan team. Since joining us in the summer of 2003, he has assumed a variety of responsibilities, working with Consultants on appraisals and valuation models, and assisting with the analysis for the firm's annual studies, including the ABIA A Study of Leading Banks in Insurance and the IIABA Best Practices Study.

Before joining Reagan, Andrew served as Cash Management Officer for a private banking firm in Lexington, KY and Commercial Lender for a southeast-based super-regional bank. He holds a BS in Finance from Georgetown and an MBA from the University of Colorado.

REFERENCES

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