BMcB is a firm that caters to both "Institutional" and "Retail" clients. As an underwriter, BMcB works to devise a marketing plan that reaches every investor segment, from large and medium sized institutional markets to BMcB's specialty market, second and third tier Institutional Investors, and finally to the retail market. BMcB includes a specially designed marketing agenda for each investor segment. BMcB's access to money managers and small trust departments plays a significant role in achieving broad base retail distribution. BMcB's view is that, given the current economic outlook, a well-designed, broad-based, marketing program that focuses on each investor segment can achieve lower interest rates throughout the life of the bonds.

BMcB's sales staff effectively taps into the often overlooked, middle market institutional buyers. This market is made up of smaller institutional investors who typically invest in increments of $500,000 to $1,000,000. They consist of corporations, endowment funds, regional money managers, insurance companies, trust funds, and hedge funds. These investors are dispersed throughout the country and are often times off the radar of the large Wall Street firms. For the issuer, this means that the large institutional investors are not in a position to demand higher yields or more attractive call features.

BMcB has built its institutional and retail reputation by distinguishing itself from our competitors through our broad regional coverage of this market segment. BMcB refers to this investor segment as an important investor base because of what their participation means to the role of large institutional investors in the pricing of a bond deal-less leverage. BMcB's goal, supported by its unique talent, is to create a large and diversified investor base for the issuer's bonds. BMcB aims to accomplish this with an effective communications program educating investors, creating demand and therefore additional competition for the securities. BMcB also focuses on the larger institutional investors who currently hold other obligations of the issuer or similar credits, in addition to those who purchased bonds from us on previous financings.

All of the employees of BMcB have significant underwriting experience: insured and uninsured, taxable and tax-exempt securities. As a manager, BMcB has been directly involved with the structuring and integral marketing of municipal debt.