Bando, McGlocklin overcame ex-athlete stereotypes
September 1981 brought an end to another season for the Milwaukee Brewers and an end to a baseball career for Sal Bando.
But rather than make beer commercials or anguish over the thought of never again stepping up to bat in a major league uniform, Bando traded his old duds for a business suit.
Autumn brought a new commercial lending career for the former all-star infielder, now 43, and his friend, former Milwaukee Bucks guard Jon McGlocklin, now 44.
At the start, the two had little business experience. But in six years, their firm, Bando McGlocklin Capital Corp., a publicly held small-business investment company, has built a loan portfolio of $25 million. Last week, the firm reported a 14.2 percent increase in net, pre-tax profits for its fiscal year 1987, which ended June 30.
The firm earned $770,659, or 56 cents per share, during the year, compared with $674,934, or 52 cents per share in fiscal 1986. It grew in total assets from $33.2 million to $38.3 million during the same period.
In May, the firm completed its initial public stock offering of 750,000 shares of common stock, which were sold at $6.375 per share. The offering raised $4.2 million in equity to enable to firm to expand its lending to small, growth-oriented businesses.
The stock, listed on the National Association of Securities Dealers Automated Quotation system, last week had a bid price of $6.50 per share before the annual earnings report was …