With a golf bag draped over his shoulder and lugging a bulging suitcase behind him, Ed was growing a little weary as he carried his luggage through the door at the South Bend Regional Airport. He always tried to pack everything in one bag for convenience sake causing his suitcase to feel like an over-sized bowling ball. Add to this, a golf bag full of clubs, and even for a man in Ed’s physical condition, it was quite a load to lug around. Jared had suggested that he bring his golf clubs to Indiana just in case Ed’s arrival time allowed for a round of golf.
Ed paused outside the door and scanned the entry road looking for Jared. A few seconds later he spotted him exiting his car a short distance away. Jared saw him, smiled and hustled toward him.
“Morning, Ed, glad you’ve arrived safe and sound.” The two men exchanged a firm handshake. “Here, let me take that.” Jared slid the golf bag off Ed’s shoulder.
“Sorry for the early flight, Jared. It was the only flight I could get that left at a decent time. Hope you don’t mind.”
Jared chuckled. “Let’s see, you arrived early, you have on your golf clothes. I’ll bet you think we have a tee time.”
Ed’s brow lifted.
“Well, you’re right, boss. I’ve arranged a tee time for us at Timber Ridge, as if you didn’t know, it happens to be right on the way back to the office. Cocktails and dinner will be served at the Tippecanoe Country Club later this evening. The cocktail hour doesn’t start until 6:30, so we have plenty of time to play golf and still get ready for dinner. We can stop and get you a rental car after golf and I planned on you staying at our place. Is that okay?”
“I love your place, but I don’t want to impose.”
“Are you kidding, Ed. That’s why Erica built those fancy guest quarters. It’s separate and private. We won’t even know you’re there.”
“Thank you, it’s a very comfortable place to stay and Timber Ridge is a great track. When is our tee time?”
“10:32,” Jared said.
“Okay, then we’d better get hustling.”
The two men, with Ed’s luggage and golf clubs in tow, walked hurriedly toward Jared’s SUV and tossed everything in the rear cargo area. Soon they were departing the airport and starting the forty-five minute drive to Timber Ridge.
* * * * * *
Jared took a hard right off the narrow country lane into the tree lined parking lot at Timber Ridge. Ed smiled when he saw the quaint, brown cedar clubhouse ahead. It still had that warm, inviting feel about it. Ed thought back to all the good times he and his friends had at the secluded course. Ed loved The Villages, but he also missed his life in Indiana.
Jared pulled into the parking area and pushed the button to the hatchback on his SUV. The two men quickly jumped out and headed for the back of the vehicle. A few seconds later, the friendly owner of the golf course pulled up in a golf cart and hopped off to greet them.
“Morning, guys!”
“Good morning, Greg. I guess we’re getting the royal treatment here with the boss bringing us a cart!” Ed joked.
“Nothing’s too good for my banker buddies,” Greg quipped.
The three men exchanged warm handshakes and some brief conversation.
“There’s a bunch of kids getting ready to tee off on one.” The owner pointed toward the open pavilion near the clubhouse where a large group of young boys and girls were milling around. “There are thirty of them. You’d better get going.”
“Okay!” Jared exclaimed. “Let’s get at it.”
Greg helped them load up their bags and then hurried on back to the clubhouse. Jared drove rapidly to the vacant first tee and jerked to a stop. He and Ed quickly exited the cart, loosened up a little, grabbed their drivers out of their respective bags and hit their drives. Soon they were driving down the fairway toward their first shots.
As he so often did, Ed took the opportunity on the golf course to talk a little business. It made him feel like the time golfing was not completely wasted. “How are things at the bank?”
Jared, who was usually very quick to extol the virtues of the bank, hesitated ever so briefly, and then replied. “Fine, things are fine.”
“But…?” the perceptive Ed replied.
Jared glanced at his former boss and then looked away, “Well, we’re in pretty deep with that Alco deal, but otherwise, things are looking very good and Alco had a better than expected first quarter.”
Ed thought the Alco deal had been farmed out to several banks, not just First Bank. The way Jared sounded, their bank was the only one involved. He wanted to drop the subject and enjoy his golf game, but he knew he couldn’t. Any problems with Alco could be huge for a bank the size of First Bank. He needed more answers.
“In pretty deep? I thought that was a participation with other banks. I thought we only had twenty percent of that deal.”
Jared pulled the cart up next to Ed’s ball. “You’re up,” he said, obviously wanting to change the subject.
Ed climbed out of the cart, pulled his three hybrid out of the bag, took a couple of short practice swings, addressed the ball and hit it high in the air. It landed just to the right of the green. Ed dropped the club back in his bag and climbed back on the cart.
Jared hit the accelerator and sped toward his shot some fifty yards away. On the way to his ball he attempted to further explain the Alco deal to his old boss. “You’re right Ed, Alco did start out as participation, but when the market went bad in 2008, the other four banks opted out of the deal, citing current market conditions.”
“So then we went alone? That was a fifty million dollar project!”
Ed was incredulous.
“I know, but like I say, the others opted out of the deal.”
“Why didn’t we opt out?”
Jared stopped the cart next to his ball, his face flushed red. “Because the President of Alco is a good friend of Homer Williams.”
“What? You took on a risky fifty million dollar project because the president is a friend of Homer Williams? I taught you better than that, Jared Holmgren.” Ed shook his head in disgust.
Young Jared avoided eye contact with his mentor. “I was just six months into the job, Ed, and Homer is a very hard man to deny. Also, I found out later that he had spent a lot of time behind the scenes convincing the other board members to back him. I tried to stop the deal, but they would have no part of it. The vote was six to two in favor of going ahead with the project.”
Ed’s brow furrowed deeply, “Williams … I rue the day I brought that man on the board. He’s the direct antithesis of what I wanted at First Bank. He’s a wheeler-dealer who shoots from the hip. I can’t tell you the number of heated arguments that I had with that man-he drove me nuts.” Ed patted his young protégé on the knee. “I’m sorry I lost my cool, son, but it’s just that I know too much. If Alco has problems, which is very possible with the market conditions being what they are, they could take us under. We would go into receivership and be sold to the highest bidder. If that happens, everybody loses-you, the other officers, our wonderful customers and even our nemesis, Homer, loses.”
Jared looked at Ed, eyes pleading for understanding. “I know, Ed. I worry about that account all the time. I know the importance of Alco and I know the consequences if Alco goes bad. Our commercial man, Steve Rodriquez, has met with Alco’s management team several times to analyze their situation and has made several recommendations. He told them that we thought their risk management strategy has been way too aggressive and they’re in far too deep with risky European deals.”
“Do they listen to you and Steve? Do they seem to take your suggestions to heart?”
Jared turned and looked down the fairway behind them to see if any of the youngsters were pushing in on them. The fairway was clear; the nearest group was just approaching the first tee. Jared continued. “They appeared to listen. We sure gave them an earful, but I honestly don’t think that they have formally implemented any of our suggestions into their corporate strategy. Maybe we’ve made them think, but I don’t think we changed anything.”
Ed sat looking thoughtfully at the contrite young man sitting next to him. “Has First Source mentioned Alco during the merger talks?
“Yes, they have a couple of times.”
“And?”
“I’ve been very upfront with them about Alco…”
Ed interrupted, “I’m sure you have, Jared. Of that, I have no doubts.”
“Thank you, Ed.” Jared continued. “They weren’t thrilled about it, but it doesn’t seem to be enough to squelch the merger talks. They’re going full steam ahead at this point.”
“Good, maybe we can get this merger done and let them worry about Alco.”
“Maybe.”
“You’re a good man, Jared Holmgren, and I know what a bully Homer Williams can be. Let’s hope and pray things work out. I own a lot of stock in this hamburger joint and my wife’s really loving Florida.” Ed grinned and poked his glum young charge in the arm. “Better hit your ball before those youngsters start to catch up with us. By the way, the usual bet?”
“Yeah, a buck a hole and double on birds.”
“Hit it, son.”
Buoyed by Ed’s lighthearted comment, Jared smiled and lifted an iron out of his bag and stood over his shot. He lifted his club high and let it rip, sending the ball flying onto the green, some fifteen feet below the cup. “How about two bucks a hole?” Jared’s face broke into a smile.
Ed gave him a thumbs up. Soon all talk of Alco and other pressing business matters came to an end, replaced by friendly bantering and several high fives as the former boss and his protégé weaved their way around the scenic course, finishing the round at just before three.