After founding Ardmore Capital Advisors in 1991, President & CEO, T. Alexander (Sandy) Spratt joined with Jim McKee and Andy Cook to form Ardmore Banking Advisors to provide credit risk services to financial institutions in 1994.  Donald C. Frueh was named a principal in 1996, and our fourth partner, Peter Cherpack, arrived in 2006 to complete our leadership team.

The Ardmore partners celebrate 25 years of  success in 2016. 

(From left:  Donald C. Frueh, Jim McKee, Sandy Spratt, Peter Cherpack)

Don Frueh, Jim McKee, Sandy Spratt and Peter Cherpack, the Ardmore Bankin Advisors partners celebrate Ardmore's 25th anniversary in 2016.



The code of ethics that Sandy Spratt typed out in 1991 to detail Ardmore's commitment to serving our clients with competence, independence and integrity is still in place nearly 30 years later.  These are the Ardmore ideals, and they are adopted by every Ardmore team member, including Maffie McCarthy and Eileen Gaul Isdaner (below) and reflected in every action that our company takes:  


  • We will serve our clients with integrity, competence, and objectivity

  • We will keep client information and records of client engagements confidential and will use proprietary information only with permission

  • We will not take advantage of confidential client information for ourselves

  • We will not allow conflicts of interest that could provide a competitive advantage to one client through our use of confidential information from another client who is a direct competitor without that competitor’s permission


  • We will accept only engagements for which we are qualified by our experience and competence

  • We will assign staff to client engagements in accord with their experience, knowledge, and expertise

  • We will immediately acknowledge any influences on our objectivity to our clients and will offer to withdraw from a consulting engagement when our objectivity or integrity may be impaired


  • We will agree independently and in advance on the basis for our fees and expenses and will charge fees and expenses that are reasonable, legitimate, and commensurate with the services we deliver and the responsibility we accept

  • We will disclose to our clients in advance any fees or commissions that we will receive for equipment, supplies or services we recommend to our clients


  • We will respect the intellectual property rights of our clients, other consulting firms, and sole practitioners and will not use proprietary information or methodologies without permission

  • We will not advertise our services in a deceptive manner and will not misrepresent the consulting profession, consulting firms, or sole practitioners



Many firms try to duplicate Ardmore's service offerings, but very few have the aggregate level of bank management and credit risk management experience, expertise, and insight collectively held within our company.  Here are just a few ways that Ardmore differentiates itself in the market:

  • Our principals are personally involved in the delivery of services to clients, thereby assuring focus and attention to our clients’ needs  

  • Ardmore has a 29-year history in the banking and financial services industry with an impeccable reputation recognized by all regulators, financial institutions, trade associations and CPA firms

  • Our consultants have significant experience as former banking and regulatory executives (e.g. Board Chair, Director, President, CEO, CLO, CRO, CFO, CCO, and regional bank EICs) in multiple specialties to assure an understanding of clients’ credit risk management and assure value-added commentary within the context of a loan review or consulting engagement

  • We have a strict quality control process before, during and after every loan review or consulting engagement to supplement our Relationship Manager’s on-site management, ensuring a superior level of accuracy and substantive reports and write-ups



The core Ardmore values, instilled by our founders, are still in place to this day.  They are conveyed to every Ardmore team member and form the cornerstone of our business, from how we treat our team members and clients to the way that we approach providing credit risk management services.  


  • At Ardmore, we respect all points of view, whether they come from clients, team members, regulators, prospects and other professionals and do not discriminate based on age, gender, race, sexual preference, religious or political beliefs or economic and social class. Ardmore will also not tolerate any type of harassment of employees, contractors or clients.


  • You can always trust the professionals working at Ardmore to do the right thing, and always act in a manner that is best for our clients, our company and each other


  • Ardmore team members follow moral and legal expectations and principles in all aspects of their work


  • At Ardmore, we never allow anyone to compromise our ability to be impartial, forthright and truthful and will always tell our clients the truth, and what they need to know, even if it is bad news

    Value Added

  • We typically provide additional information and recommendations to our clients based on our observations of their bank, similar banks, industry and regulatory best practices and expectations

    Quality Service

  • Ardmore never takes shortcuts in providing our excellent services to our clients, even if our productivity is slowed down or additional time is needed.   Our clients' welfare is our primary concern

Work Ethic

  • We will work tirelessly to make sure that our deadlines are met and that our clients

    are totally satisfied with the final product

  • We will always secure our data, and that of our clients and their customers, with the utmost care in order to protect all parties



Risk management is more than managing your bank's risk ratings, portfolio concentrations and loan policies. It is also about being cautious with any third-party service providers contracted by your bank that handle your institution's confidential and sensitive data.  If one of your bank's vendors suffers a data security breach, your bank's and customers' confidential information could be at risk.

Does your current or prospective risk management outsourced consultant:

  • Provide your bank with encrypted data, including laptops? 

  • Have a secure database, protected against cyber attacks and hacking? 

  • Have adequate liability insurance? 

  • Have more than more than a handful of experienced professionals" on staff, assuring continuity?

At Ardmore, the security and confidentiality of our clients' data is paramount, and we protect it as if it were our own.  In addition to using a safeguarded cloud-based system to perform all of our work, Ardmore Banking Advisors has also: 

  • Performed an internal Information Security Risk Assessment
  • Performed a Technical Security Assessment to determine if system configurations provide reasonable controls

  • Evaluated and revised, where appropriate, IT and information security policies and procedures

  • Implemented employee training 

  • Committed to continuous analysis and improvement of internal control initiatives

When you engage Ardmore, not only do you receive risk management consulting from our team of experienced, successful, former C-level bankers and regulators, but you also receive the peace of mind from knowing that your data is in secure hands .



Ardmore is proud to be affiliated with the following organizations:


Ardmore has partnered with Argus to assist in the design, functionality and implementation of their Credit Portfolio Management (CPM) suite, which offers CECL-Ready ALLL, Stress Testing and Analytic Reporting solutions.   Argus' solutions leverage the latest in Analytics, Data Sciences & Information Management technology to help banks of all sizes manage “Big” and “Small” Data to meet or exceed regulatory expectations.

Risk Management Association

The Risk Management Association (RMA) is a not-for-profit, member-driven professional association serving the financial services industry. Its sole purpose is to advance the use of sound risk management principles in the financial services industry. RMA promotes an enterprise approach to risk management that focuses on credit risk, market risk, operational risk, securities lending, and regulatory issues. 

Ardmore is pleased to be an annual sponsor of the RMA's annual risk management conference and RMA Philadelphia, and the Ardmore team includes many life members and former chapter presidents, and local and national Board members.  


Computer Services, Inc. (CSI)

Computer Services, Inc. (CSI) is a customer service company that delivers innovative technology solutions to financial institutions and other businesses nationwide. Based in Paducah, Kentucky, CSI not only provides all of the technological core competencies needed by banks, but also serves the compliance needs for a variety of industries, including real estate, insurance and casino and gaming.

Incorporated in 1965 with six employees and three customer banks, CSI has grown to be one of the nation’s largest providers of dynamic technology solutions, with more than 1,100 employees helping financial institutions and corporate entities remain competitive, compliant and profitable. 


Pennsylvania Bankers Association

The Pennsylvania Bankers Association, located in Harrisburg, is the commonwealth's leading banking trade association, offering extensive Continuing Education programs and government relations representation on behalf of the industry, and providing numerous products and services for banks and their employees.





Lorman Education Services 

We are proud to partner with Lorman Education Services to provide educational webinar and article content to the banking industry.

We work closely with the following regulatory agencies, some of whom have invited Ardmore to present our views and methodologies on risk management for community banks:  



Conference of State Bank Supervisors

The Conference of State Bank Supervisors is the nation’s leading advocate for the state banking system, and the only national organization dedicated to advancing the state banking system.

Federal Financial Institutions Examination Council (FFIEC)

The FFIEC is a formal interagency body empowered to prescribe uniform principles, standards, and report forms for the federal examination of financial institutions by the Board of Governors of the Federal Reserve System (FRB), the Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration (NCUA), the Office of the Comptroller of the Currency (OCC), and the Consumer Financial Protection Bureau (CFPB) and to make recommendations to promote uniformity in the supervision of financial institutions. 

Office of the Comptroller of the Currency

The OCC, an independent bureau of the U.S. Department of the Treasury, charters, regulates, and supervises all national banks and federal savings associations as well as federal branches and agencies of foreign banks.


The Federal Deposit Insurance Corporation (FDIC)

The FDIC preserves and promotes public confidence in the U.S. financial system by insuring deposits in banks and thrift institutions for at least $250,000; by identifying, monitoring and addressing risks to the deposit insurance funds; and by limiting the effect on the economy and the financial system when a bank or thrift institution fails.




In our nearly 30-year history, Ardmore is privileged to have provided risk management consulting services to hundreds of banks from de novo to over $20 billion in assets nationwide, and built an unparalleled reputation for integrity and expertise with both clients and regulators.

We work closely with all our clients to make sure that their experience far exceeds their expectations. Here are some comments from a few of our representative clients.

TriState Capital Bank


“When I became Chief Risk Officer at TriState Capital Bank[in 2014], I commissioned a consultant to review the work product of Ardmore Banking Advisors, which had been conducting loan review for the bank for the previous five years.


The consultant independently confirmed my observations that Ardmore was the most professional loan review company that I had seen in over thirty years as a regulator. In testing Ardmore’s work he observed that they were thorough, insightful, and provided useful commentary regarding underwriting and credit administration to our bank; assessments that I agree with having now worked with Ardmore directly. ”

Mel Washington - Chief Risk Officer

First National Bank of Elmer 

“When I think of Credit Risk Management, I think of Ardmore."

Brian W. Jones - President

Brookline Bancorp, Inc.


"Ardmore’s Credit Data Assessment service was extremely valuable to Brookline Bancorp – as it helped us quickly identify strategic and tactical actions we could take to be better prepared for CECL and stress testing initiatives. The process was quick, virtually painless, and the results were actionable. Ardmore has a depth of knowledge of credit data and related processes that is unique in the industry. All banks will find value in using this important service, especially now with CECL and other regulatory initiatives on the horizon."

Bob Rose - Chief Credit Officer

Neighborhood National Bank


"I am pleased with the work done by Ardmore. They have been extremely helpful and clearly understand the impediments I faced to conduct a thorough and accurate stress test. I can say that Ardmore’s community bank loan portfolio stress testing service is exactly what the bank needed to meet the OCC’s expectations.

The stress test was an important factor influencing the OCC to close a consent order article relating to concentrations. Ardmore’s staff went out of their way to understand my bank’s specific needs and ensure that the results were meaningful and useful. Furthermore, the staff was very responsive and easy to work with. I would happily recommend Ardmore, its staff and Ardmore’s stress testing services to my peers."

Skip Maniscalco - EVP & Chief Credit Officer

Univest Bank

“Ardmore’s credit data assessment service helped us evaluate the state of our credit data process and readiness for regulatory expectations. Since implementing Ardmore’s recommendations, we have seen improved loan credit coding accuracy and broader internal adoption of an understanding of the significance of data integrity.  This proactive process was also important to undergo to evaluate the necessary data to support expanded loan concentrations stress testing and to be prepared for the upcoming CECL requirements.”

John Landes - EVP