Loan Evaluation Services LLC has been formed by two local career bankers to assist banks in mergers and acquisitions and with reviews of banks’ own loan portfolios.

The company is being formed by Kyle Waters and Andy Bower. Waters spent much of his career as a senior executive at Hibernia National Bank and most recently was president and a director of Omnibank, where Waters helped negotiate the bank’s sale to regional IberiaBank. Bower has operated a loan review practice for 10 years, consulting for banks and performing evaluations for a dozen banks in south Louisiana with portfolios ranging from $50 million to $1 billion. He previously worked for Guaranty Savings Bank in Metairie; Arthur Andersen LLP; and Florida National Bank in Jacksonville.

“As the industry continues to consolidate, banks that are acquiring other institutions — and those that are just considering such a move — want to be sure they know what they’re buying when talking to another bank,” said Waters, co-owner and manager. “We help banks establish a fair market value for the credits and collateral on their books so they can price a transaction appropriately.”