Senior Advisors

Scott B. McCallum
Senior Advisor

Email: smccallum@fortresspartners.com
Direct Line: 267-346-1176

Scott has 30 years of experience in commercial banking, community bank consulting, investment banking and private equity investing. In addition to serving as Senior Advisor to Fortress Partners, Scott currently serves as Senior Manager in the Chicago office of Cendrowski Corporate Advisors, a Michigan-based consulting firm providing support to banks law firms, private equity/venture capital/hedge funds and non-profits/foundations.

Scott also serves as a consultant to Resource Financial Institutions Group, Inc. (the private equity arm of Resource America, Inc.), where he previously served as Principal of the general partner of several PE funds investing in banks. He serves on the boards of directors of two of Resource Financial’s portfolio bank holding company investments (and their respective banks): TrustAtlantic Financial Corporation, based in Raleigh, NC, and Birmingham Bloomfield Bancshares, Inc., based in Birmingham, MI. Previously, Scott served as Senior VP and head of the Chicago office of Austin Associates, LLC, where he provided corporate finance services to community bank executive teams and boards. He started his professional career at Harris Bank in Chicago, where, over a 20-year career, he rose from the commercial banking training program to middle market relationship management, CRA management, capital markets advisory, community bank management and small business segment management (the last two positions at the Senior V P level).

He holds a B.S.B.A. in Finance from Miami University (Ohio) and an M.B.A. from Kellogg Graduate School of Management at Northwestern University.

Karl J. Ostby
Senior Advisor

Email: kostby@fortresspartners.com
Direct Line: 262-945-4321

Karl has over 30 years of hands on experience in almost every aspect of community and large national banks including commercial banking, retail banking, mortgage banking, investment management, cash management, marketing, technology and operations.Karl organized and led Southport Bank, a 1997 de novo, as President and CEO.The bank reached profitability in eight months, obtained number 2 market share in Kenosha County, and $500 million in assets with 5 branches and a mortgage subsidiary serving southeastern Wisconsin and northeastern Illinois.After twelve years Karl retired from this position in May of 2009.

While organizing Southport Bank, Karl took on several banking consulting projects and since his retirement has again engaged in several additional assignments primarily focused on strategic planning, management of regulatory issues, CEO coaching, and capital raising.Karl has had success in several capital initiatives including leveraged ESOPs, sub S conversions, convertible subordinated debt, trust preferred and common equity. He has strong working relationships with regulators and legal, accounting, and investment banking firms.

Prior to Southport, Karl spent 13 years with Wells Fargo (formerly Norwest) with several management assignments. He was appointed President of Corporate Banking for Wisconsin which included assimilating the acquisition of First Interstate of Wisconsin and achieving a 50% penetration of the top 100 Wisconsin companies.Karl also managed the US Cash Management Division for four years and achieved the second largest ACH volume of all US banks.

Karl has served on numerous boards including Wisconsin Bankers Association, and as President of the Milwaukee Bank Executive Forum, Chair of the South East Wisconsin Regional Transit Authority and in various advisory board positions for the University of Wisconsin.He has been recognized by the Community Bankers of Wisconsin as Banker of the Year in 2007, a Midwest finalist for the Ernst and Young Entrepreneur of the Year, and Business Person of the Year by Wisconsin Builder.

He holds a BA in Economics from St. Olaf College and a MBA in Finance from The University of St. Thomas.