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Mr. Springer is a Shareholder and Director of the firm and is a member of the firm's Corporate, Litigation and Financial Services Groups. He is also the Chairman of the firm's Finance Committee. Mr. Springer's practice includes a wide range of corporate and financial institution services. Mr. Springer frequently serves as outside corporate counsel to financial institutions and midsized companies and has been retained on numerous occasions as a corporate and bank turnaround and management consultant. In addition to representing financial institutions, Mr. Springer represents companies involved with manufacturing, construction and e-commerce, as well as finance and investment management, accounting, investment banking, and venture capital firms.
Mr. Springer also served as Vice President and Associate General Counsel for the Federal Home Loan Bank of Pittsburgh.
Areas of Law/Focus
- General Bank Counseling
- Bank Mergers and Acquisitions
- Compliance and Regulatory Issues
- Branch Acquisition/Divestiture
- Loan Portfolio Sales/Purchases
- Commercial Loan Workout and Restructure
- Consumer Foreclosure and Bankruptcy
- Bankruptcy
- Bank Fraud Issues
- Lending Issues
- Mortgage Broker Issues
- Corporate Mergers and Acquisitions
- Corporate Formation/Structure
- Limited Liability Companies
- General Corporate
- Corporate Finance
- Emerging Companies
- Employment Issues
Selected Engagements
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Engaged as a consultant to financial institution under a regulatory Cease and Desist Order for purposes of management and board restructure, corporate governance enhancements and addressing regulatory concerns of federal and state regulators. The financial institution was released from regulatory Cease and Desist Order in approximately ten months, which was the quickest bank turnaround in recent banking history.
- Represents national financial institution in troubled loan portfolio sales.
- Represented numerous financial institutions over the past 20 years in commercial loan portfolio management and bank turnaround services including institutions such as Equibank, First Federal Savings and Loan, Integra Bank, First Seneca Bank, Penn Bank, Gallatin Bank, F&M Bank and Trust, Community Savings Bank, Three Rivers Bank, Pennsylvania Capital Bank, Northside Bank, Burritt Intrafinancial Bancorporation, Great Country Bank, as well as various RTC projects.
- Represented regional financial institution in connection with its sale to another regional financial institution, including securing the requisite regulatory approvals.
- Represents financial institutions in post-acquisition conversion, integration and turnaround services.
- Represents numerous regional financial institutions in connection with the administration of commercial and consumer foreclosure, credit recovery, and bankruptcy programs.
- Represented regional manufacturing company in acquisition of long-time competitor. Pursuant to the terms of the asset purchase, the tangible and intangible assets of the seller were acquired including its equipment, accounts receivable, contracts and manufacturing plant located in North Carolina.
- Represented regional accounting firm in connection with its merger into a larger regional accounting firm.
- Represented regional nonprofit in connection with its acquisition of real estate for purposes of developing an affordable housing project.
- Represented principals of a manufacturing company in restructure and workout arrangements whereby principals obtained favorable forbearance terms in exchange for cooperation and orderly liquidation of company assets to maximize proceeds for creditors. In that matter, principals were incented to maximize proceeds through a percentage of gross sales proceeds, as well as a release of any personal guaranty obligations provided that certain sales thresholds were obtained.
- Represented regional construction company in negotiation and strategic sale of assets, as well as assets of affiliated construction services company to a company providing complementary construction services. Sale also involved restructure, spin-off and sale of related affiliate company.
- Represented financial institution in the negotiation, settlement, and recovery from parties involved with an altered item as well as the negotiation and settlement of related insurance claim in which institution obtained a waiver of subrogation rights under the policy and an agreement to permit the institution to control recovery efforts and share in proceeds to be recovered.
- Represented closely held company in connection with restructure of company and affiliated entities to enable next generation of family members in succession planning to assume management responsibilities, control, and ownership.
- Negotiated acquisition loan facilities and inter-creditor agreements for subordinate debt and equity investment in connection with the acquisition financing of manufacturing company.
Education
- J.D., Duquesne University School of Law, 1989
- B.A., Political Science, Allegheny College, 1986
Cum Laude
Professional & Community Activities
- Member, Allegheny County Bar Association
- Member, Pennsylvania Bar Association
- Member, American Bar Association
- Board Member and Vice President and Executive Committee, Golf Committee (Chairman) and Board Development Committee Member, HEARTH
- Board Member and President, Financial Industries Network
- Member, Turnaround Management Association
- Member, Association for Corporate Growth
- Former Corporate Fundraising Member, American Heart Association
- Corporate Fundraising Member, Juvenile Diabetes Research Foundation
- Member, Shannopin Country Club
- Member, Duquesne Club
Bar Admissions
- Commonwealth of Pennsylvania, 1989
- U.S. District Court for the Western District of Pennsylvania, 1989
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