Dave Madden, a seasoned professional in the aviation finance industry, has carved a unique path that showcases the diverse opportunities and rewards within this specialized field. From his early days as a pilot to his current role as a leader in aviation finance at Banterra Bank, Madden's career journey is a testament to the power of mentorship, lifelong learning, and a passion for aviation.
Madden remarks, “it's funny how you start out one way, and you go down the end of the road, you look back and you did something maybe totally different, but within the industry. But at the same time, if I could change anything on my career path, I wouldn't change a thing.”
A Winding Path to the Present
Madden's career has not been without its twists and turns. Originally aspiring to become an airline pilot, he holds an Airline Transport Certificate along with multiple Instructor ratings but was forced to pivot his career path due to economic downturns in the airline industry during the late 70’s and early 80’s. His first steps into aircraft finance took him to a bank where he gained experience in asset management and repossessions. In this first position, Madden gained exposure to the process of assessing and valuating an asset, determining how to liquidate it, and go through the legal process to collect any remaining deficiency on the loan balance.
Eventually, Madden would go on to launch his own aircraft finance company, Aircraft Banking Centers, becoming one of the top three largest volume lenders in the industry before selling the company in 2012, to a bank in Tampa. During that process, an opportunity came up with Banterra Bank, his current place of employment.
Madden joined Banterra Bank in 2014, at a time when the bank was a relatively small financial institution with assets under $1 billion dollars. Since then, Banterra Bank has experienced remarkable growth, surpassing the $3 billion dollar mark in assets in 2023. Despite its size, Banterra Bank has established itself as a specialty lender, focusing on RV, marine, and aircraft financing. Madden's division, specializing in aircraft finance, has been particularly successful, contributing significantly to the bank's overall growth.
Over the past decade, the aviation finance division has maintained a zero-delinquency rate, demonstrating Madden and Banterra’s strong risk management practices and the quality of its lending portfolio. Additionally, the division has consistently generated high yields, making it one of the top-performing products within Banterra Bank.
Madden attributes much of the division's success to the support and encouragement he has received from Banterra Bank, especially from the Chairman and founder of the bank, Everett Knight. “Banterra Bank has been extremely supportive of the division, allowing me to create new programs,” he comments. “They were willing to look at those opportunities, see if they made financial sense and if they were viable and allowed me to create those. They’re just a phenomenal organization.”
The Power of Lifelong Learning and Industry Relationships
Madden's commitment to lifelong learning and building relationships has been another key factor in his career success. He actively seeks out opportunities to expand his knowledge and network, whether through industry conferences, mentorship relationships, or on-the-job experiences.
This continuous learning has allowed him to stay ahead of industry trends, adapt to changing market conditions, and develop innovative solutions. Madden sites many mentors who have had a direct hand in his successes along the way, including Sam Peoples, Bill Allen, Kevin Buckland, Stephen Asper, Pam Cooksey, Bob Howe, Charlie Sauter and the late and dearly missed, Adam Meredith.
Madden has been a dedicated member of the National Aircraft Finance Association (NAFA) for many years, emphasizing its importance in fostering collaboration, knowledge sharing, and professional development within the industry. NAFA offers a wealth of resources, including educational seminars, networking opportunities, and industry insights.
As Madden puts it, "NAFA has been a game-changer for my career. The connections I've made and the knowledge I've gained through NAFA have been invaluable. It's a must-join organization for anyone in the aviation finance industry."
Advice for Aspiring Aviation Finance Professionals
Based on his extensive experience, Madden offers the following advice to individuals aspiring to enter the field of aviation finance:
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Gain Aviation Knowledge: While a background in finance is beneficial, having a solid understanding of aviation concepts and terminology is essential. Consider obtaining a pilot's license or taking aviation courses to deepen your knowledge and look for opportunities to understand the field of aviation down to its bones.
“Try as many things as possible when you're young. Diversification of job experiences within the banking, the finance, and aviation world. Learn what collateral, what types of collateral there are.”
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Build Relationships: “Everyone gets along in this business and it's fun. You know, one of the things I tell the younger folks getting in is get to know some of the other folks that do your job with other lenders, build relationships. I don't need to tell you, but jobs come from relationships, not from online ads. It's who you know, it really is.”
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Be Persistent: The path to success in aviation finance may not always be straightforward. Perseverance and a willingness to overcome challenges are essential qualities.
“In 10 or 15 years, you’re going to be the primary players. So stay the course, persevere, learn as much as you can, and be ready for a setback or failure now and then, but just utilize that as a positive learning experience.”
Learn more about Banterra Aircraft Finance by visiting their website www.BanterraAircraft.com or connecting with one of their seasoned professionals, like Dave Madden at (888) 254-5731.