Your customer satisfaction scores rank in the bottom 15% of regional banks. Your diversity metrics, she paused for effect. Well, let's just say they're statistically insignificant. Walsh was frantically taking notes, recognizing that every word would be scrutinized by federal regulators. Now, the acquisition that just evaporated, Maya's fingers moved across her tablet, was structured as follows.
Zenith Capital Management was purchasing First National for $900 million, approximately 15% above your current market value. We were also committing to a $200 million capital injection for modernization and expansion. Phillips found her voice, though it came out as a croak. Dr. Johnson. Surely we can discuss this.
Maya held up her hand. I'm not finished with the numbers, Janet. The acquisition included plans for 47 new branch locations in underserved communities, creating approximately 2,000 jobs. We had committed to maintaining all current employment for a minimum of 2 years with enhanced benefits packages. She looked up from her tablet.
That was $1.1 billion in economic impact for this region. Past tense. Bradley stepped forward desperately. Dr. Johnson, if there's any way to salvage this transaction. Oh, there is, Mia replied.
But not the transaction you're thinking of. Her satellite phone rang. She answered on speaker again. Yes, Klouse. Maya, the Meridian documents have been officially withdrawn.
Legal is preparing the press release for 3:15. Should we proceed with the alternative acquisition targets? Which alternatives? Coastal Trust made a very attractive counter offer. 2 billion for a much larger portfolio.
And Sterling Financial is offering complete market penetration in three states. Maya looked around the room. Hold on those for now, Klouse. We may have a more interesting option developing here. She ended the call and stood up, walking to the floor to ceiling windows that overlooked downtown Atlanta.
You see, Zenith Capital Management doesn't just acquire banks. We transform them. We were planning to make First National a model for ethical banking practices. Where? Walsh asked quietly.
Past tense, yes, but I'm considering a different approach now. Maya turned back to face them. Instead of acquisition, I'm thinking about a hostile takeover. The words hung in the air like a death sentence. Dr. Johnson, Bradley stammered.
What would that entail? Maya returned to her tablet. Given your current financial position, a hostile takeover would be relatively simple. We'd purchase shares on the open market, probably acquire controlling interest within 60 days at current prices, no premium, no consultation with your board, no job protections for existing management. She swiped through several screens.
Of course, the first order of business would be terminating executives who've demonstrated poor judgment. Then we'd close underperforming branches, probably eliminate about 30% of current positions to achieve profitability. Phillips was visibly shaking now. You can't just Actually, I can. But I'm going to offer you a third option.
Maya set down her tablet and looked at each of them in turn. A choice. Sarah's live stream had reached 8,000 viewers. Someone had alerted local news stations, and outside the windows, Mia could see vans arriving with satellite dishes. Option one, Maya said, beginning to pace like a trial lawyer delivering closing arguments.
Complete cooperation, full acknowledgement of what happened here today, immediate termination of employees who engaged in discriminatory behavior, public apology from the bank's leadership, implementation of comprehensive diversity and inclusion protocols. She paused at Philillips's desk where a small name plate read, "Senior loan officer, 15 years of service. Janet Phillips terminated immediately. No severance, no recommendations, complete forfeite of pension benefits due to violation of federal civil rights statutes. Phillips's legs gave out.
She sank into a nearby chair. Tom Bradley. Suspension pending investigation. If the investigation determines you failed to prevent a hostile work environment, termination with cause. Bradley's phone continued buzzing.
He was afraid to look at it. The bank will establish a $500,000 fund for financial literacy programs in communities of color. Mandatory unconscious bias training for all employees. Third party monitoring of lending practices for 2 years. Installation of an anonymous reporting system for discrimination incidents.
Maya returned to her position by the windows. In exchange, I'll consider resuming acquisition discussions at a significantly reduced price, of course. 700 million instead of 900 million. The 200 million difference will serve as a penalty for today's behavior. Walsh was scribbling frantically.
And option two? Option two is simple. You refuse my terms and Zenith proceeds with hostile takeover. We gut the bank, fire 60% of staff and use it as a cautionary tale in business schools about the cost of institutional racism. Maya's regular phone buzzed with a text from her legal team.
CNN wants an exclusive interview. The Federal Reserve confirms the investigation. Stock down 18% in after hours trading. How long do we have to decide? Bradley asked weekly.
Maya checked her watch. You have until the market closes tomorrow, 400 p.m. Eastern. If I don't have a signed agreement to my terms by then. Zenith begins purchasing shares on the open market Friday morning. Her satellite phone rang again.
This time, Klaus's voice carried excitement. Maya, you need to see the news coverage. This is going national. Social media is exploding. Number sign, First National Bank is trending worldwide.
Maya glanced at Sarah, who was still live streaming to what was now over 10,000 viewers. Klouse, I think we're going to be busy tonight. She ended the call and addressed the room. Now, I need to speak with your board of directors. Conference call immediately.
Bradley fumbled with his phone. I'll I'll set that up right away. Good. While you're doing that, Janet needs to clean out her desk. Security will escort her from the building in 10 minutes.
Phillips looked up with tears in her eyes. Dr. Johnson, please. I have children, a mortgage. I've been here 15 years. Maya's expression didn't change.
You should have thought about that before you decided my skin color determined my worth. She turned to Walsh. Jennifer, you're now the interim senior loan officer. Your first responsibility is reviewing every loan application Janet has handled in the past 2 years. I suspect we'll find some interesting patterns in approval rates based on applicant demographics.
Walsh nodded numbly. Maya's phone buzzed with another message. This one made her smile. The first genuine smile anyone had seen from her all afternoon. Gentlemen and ladies, she announced, I've just received confirmation that this entire interaction has been viewed by over 50,000 people across multiple platforms.
The story is being picked up by major news networks. Congressional representatives are calling for banking regulation reform. She gathered her documents and prepared to leave. Oh, and one more thing. That satellite phone that's been bothering you so much.
It's encrypted and records all calls automatically. Every conversation I've had today is documented and admissible in federal court. Maya headed toward the elevator, then paused and turned back. Janet, before security escorts you out, I want you to understand something. This isn't about revenge.
This is about ensuring that no other person ever has to endure what you put me through today. Your career ended the moment you decided my humanity was negotiable. The elevator doors opened. Maya stepped inside and turned to face the devastated group one final time. 400 p.m. Tomorrow.
Don't disappoint me again. 24 hours later, the first National Bank boardroom had never seen anything like it. Emergency session, federal regulators present, media vans lined the street outside, and Dr. Maya Johnson sitting at the head of the conference table where she'd never been invited before. Board chairman Robert Sterling looked like he'd aged 5 years overnight. Dr. Johnson on behalf of First Nationals board of directors.
I want to formally apologize for yesterday's incident. Maya's legal team flanked her. Three attorneys who'd flown in from New York and Switzerland. The signed agreement lay on the table between them, still warm from the printer. Apologies are noted, Mr. Sterling.
Let's discuss implementation. The door opened and Jennifer Walsh entered carrying a thick folder. Her promotion to vice president of operations had been confirmed an hour ago. Dr. Johnson, here's the preliminary audit of Janet Phillips loan decisions. Maya opened the folder and scanned the contents.
Her expression remained neutral, but the attorneys beside her exchanged glances. 47 loan applications from minority applicants over 2 years. 47 denials. Average credit scores of denied applicants, 738. Sterling winced.