Banking for Construction Companies: Regents Bank’s Darla Clark Shares Her Insights
Part of our ongoing series about how specialty banking can help you and your business
Executive Vice President Darla Clark has cultivated banking relationships with many San Diego construction companies during her 13 years with Regents Bank. She offers their leaders her in-depth understanding of the construction industry and tailored advice to maximize their banking experience.
Darla has 25 years of experience working with construction companies and is a member of Construction Financial Management Association (CFMA), which offers continuing education to professionals in this field; as well as WCC, Women’s Construction Coalition, which promotes woman-owned construction companies.
When we asked Darla to share the types of banking challenges she sees facing her construction company clients, she cited the cyclical nature of their industry. She stressed the need for banks to work with these companies, especially during downtimes, to advise them about financial statement strategies that will satisfy bank and bonding requirements. Their accounting systems must be tailored to anticipate the cyclical nature of their industry.
Another challenge that construction companies face is the constant threat of bigger companies coming in from other areas to compete for local bids, especially during lean times. In addition to helping her clients plan for peaks and valleys in their revenues, she is also an active member of pro-business organizations that support local businesses and their interests.
Darla added that a banker serving the construction industry should have solid knowledge about bonding issues facing the industry and ample contacts in the bonding agency sector in order to help clients.
Darla was drawn to the construction industry for several reasons. First, it is an important component of San Diego’s economy and our community. Second, Darla is impressed by the people and their work ethics. She also appreciates how much they look to their banker for resources and financial advice, and always value good service and communication.
Many of her construction clients are seasoned companies that started small and grew. In many instances, the owner worked his or her way up in the industry before starting the company. She enjoys working within this close-knit community of construction companies and admires the respect they share for each other.
She notes the construction industry has yet to bounce back to pre-recession levels, but that the outlook is steadily improving. We know Darla will do everything she can to help make that happen for Regents Bank’s clients.