ITC Federal (ITC) provides IT and business solutions to civilian, intelligence, and defense customers. For Greg Fitzgerald, President of ITC, the pandemic not only brought on new challenges trying to manage the logistics of ITC’s 1200-plus employees, but also coincided with a tricky business decision for the company.
Fitzgerald and his leadership team needed to buy out a founding partner. But with business moving fast, they needed a banking partner that could keep up. Although ITC’s existing bank had been a solid partner for years, it couldn’t meet the company’s new needs and rapidly approaching deadline.
That’s when they turned to Sandy Spring Bank.
“We really needed a bank that understood the vision we were going for, the complexities of our balance sheet, and the risk profile it presented,” Fitzgerald explained. “Right away, Sandy Spring got us. They helped us solve a challenge that our prior bank could not.”
Fitzgerald instantly felt at ease with Sandy Spring Bank and the Government Contracting Banking Team’s fast-acting tactics to come up with a plan to meet ITC’s goals.
“We felt comfortable right away—like our business mattered,” Fitzgerald stated. “They understood exactly how to help us buy out the partner and grow as an organization.”
For ITC, having a bank that understood the intricacies of government contractors made a huge difference during a pivotal time for the company.
“Like a lot of government contractors, we had scaled up very quickly, so we had balance sheet complexities from trying to grow and manage operations at a fast pace,” Fitzgerald explained. “We told Sandy Spring Bank ‘This is our plan, this is our backlog, this is what’s in our pipeline and this is where we’re going to be as a company.’ They understood it and they were able to help us.”
In addition to fast turnarounds and inventive workarounds, Fitzgerald was impressed with Sandy Spring Bank’s attentiveness at the highest levels.
“Within 24 hours of us reaching out, their whole senior leadership team was on a call with us,” Fitzgerald said.
For Fitzgerald, having a close-knit relationship with Sandy Spring Bank makes him feel secure, knowing they’re at-the-ready for any challenges that arise for ITC.
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