Otto's background includes turning around underperforming or troubled community banks. Otto has provided consulting services to banks and has cleaned up the commercial loan portfolio of a $500MM commercial bank that the owners were desirous of selling. At that bank, he restructured a $60MM portfolio of commercial loans that the acquiring entity did not want to keep.
Otto began his career as a staff accountant and later moved to a publicly traded regional investment banking firm before becoming the head of the Trust Department of a community bank. He then moved to the commercial side of the bank as Executive Vice President. Otto became President and CEO of a troubled commercial bank that he turned around, saving it from seizure by regulatory authorities. He then went on to turn around three other underperforming commercial banks as President and CEO.
As a consultant, his firm successfully completed fifty contracts with the Resolution Trust Corporation during the "thrift crisis" of the late 1980s and early 1990s.
He has provided consulting services to and temporary management for small to middle market companies as well as having engaged in M&A activities.