James M. Bernard

Managing Director, Fixed Income at Ancora Advisors LLC

James M. Bernard

James M. Bernard

Managing Director, Fixed Income at Ancora Advisors LLC

Biography

Mr. James M. Bernard, CFA MBA, is a Managing Director of Fixed Income at Ancora Advisors LLC. He is on the Board of Directors at MutualFirst Financial, Inc. and MutualBank (Muncie, Indiana). He joined the firm as Director of Fixed Income and manages taxable and tax-exempt fixed income portfolios for various institutional and high net worth individual accounts. In addition to portfolio management, he provides fixed income consulting services for various financial institutions. He is a board member and former Chairman of the Board of Solutions Behavioral Healthcare Incorporated, a non-profit mental health, alcohol, and drug abuse consulting provider. Prior to joining Ancora Advisors in 2006, Mr. Bernard managed fixed income portfolios as well as the Ohio Municipal Bond Fund and the Kentucky Municipal Common Trust Fund for Fifth Third Investment Advisors. His prior experience include serving as Chief Investment Officer and Treasurer of a multi-line insurance organization in central Ohio. He also managed funds for banks and trust companies in Indiana and Kansas City during his 30 years in the investment business.He earned a Bachelor degree in Business Administration from Xavier University and an MBA from Ball State University. He is a member of the CFA Institute and the Cleveland Society of Financial Analysts. He is a registered representative holding Series 7 and Series 24 principal licenses.

Overview
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118

Number of Boards

3

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Founder & Chairman Emeritus at Ancora Advisors LLC

Relationship likelihood: Strong

Chairman & Chief Executive Officer at Ancora Holdings, Inc.

Relationship likelihood: Strong

General Counsel, Managing Director, Family Wealth Advisor at Ancora Advisors LLC

Relationship likelihood: Strong

Co-Founder at Ancora Advisors LLC

Relationship likelihood: Strong

Chief Financial Officer at Ancora Advisors LLC

Relationship likelihood: Strong

CIO & Portfolio Manager at Ancora Advisors LLC

Relationship likelihood: Strong

Managing Director, Family Wealth Advisor at Ancora Advisors LLC

Relationship likelihood: Strong

President & Partner at Ancora Inverness

Relationship likelihood: Strong

Director, Family Wealth Advisor at Ancora Advisors LLC

Relationship likelihood: Strong

President & Chief Executive Officer at MutualFirst Financial, Inc.

Relationship likelihood: Strong

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James M. Bernard
Managing Director, Fixed Income at Ancora Advisors LLC
Education
Bachelor Degree in Business Administration

XAVIER IS A JESUIT CATHOLIC UNIVERSITY ROOTED IN THE LIBERAL ARTS TRADITION. OUR MISSION IS TO EDUCATE EACH STUDENT INTELLECTUALLY, MORALLY, AND SPIRITUALLY. WE CREATE LEARNING OPPORTUNITIES THROUGH RIGOROUS ACADEMIC AND PROFESSIONAL PROGRAMS INTEGRATED WITH CO-CURRICULAR ENGAGEMENT. IN AN ENVIRONMENT OF OPEN AND FREE INQUIRY, WE PREPARE STUDENTS FOR A WORLD THAT IS INCREASINGLY DIVERSE, COMPLEX AND INTERDEPENDENT. DRIVEN BY OUR COMMITMENT TO THE COMMON GOOD AND TO THE EDUCATION OF THE WHOLE PERSON, THE XAVIER COMMUNITY CHALLENGES AND SUPPORTS STUDENTS AS THEY CULTIVATE LIVES OF REFLECTION, COMPASSION AND INFORMED ACTION.

MBA

The Miller College of Business (MCOB) is the business college of Ball State University in Muncie, Indiana. The Miller College of Business has one stand-alone research center and four centers integrated into various academic departments. The Center for Business and Economic Research, directed by Michael J. Hicks provides public policy and economic research in Indiana and the Midwest. The Entrepreneurship Center led by Michael Goldsby is a top ten entrepreneurship center nationally, and offers a minor in entrepreneurship. The H.H. Gregg Center for Professional Selling led by Scott Inks offers undergraduate and graduate degree programs in selling, the Center for Actuarial Science and Risk Management directed by Steven Avila is a collaboration between the Department of Finance and Insurance and the Department of Mathematical Sciences. The college also features the A. Umit Taftali Center for Capital Markets and Investing.

Career History
Professional
Prior
Managing Director, Fixed Income
2006 - Current

Ancora Advisors seeks to invest in companies that are trading at a significant discount to their liquidation or going-concern value. Certain issues may trade below tangible book value. This can occur in times of broad market pessimism or Wall Street concentration with a company's near-term outlook. Other companies have hidden assets that are not reflected in the company's financial statements, such as investments in private companies or understated real estate values. Ancora works to understand catalysts that will unlock the value of the target company's assets, although Ancora may also buy based on a company being too cheap to ignore.In addition, Ancora seeks to invest in companies that are trading sufficiently below the calculation of intrinsic value based on the firm's \"Normalized Return\" analysis to provide potential total return of 50% or more over a 3 year time horizon. Sell decisions are based on valuation, risk and portfolio guidelines. As individual stocks approach their intrinsic value and decline in their relative attractiveness, they become candidates for sale. Other sell decisions may occur because of deterioration in the fundamentals that supported the initial investment. Automatic sales are initiated as position exposures approach diversification guidelines. Proceeds from sales are reinvested in companies that are more attractively valued based on the purchase disciplines.Ancora's fixed income strategy employs a top down approach with emphasis on sector allocation as their primary value added tool. Ancora is primarily an up-in-quality manager emphasizing higher rated corporate issues and higher classes of structured products. The firm attempts to add value in security selection by emphasizing either smaller issues or less liquid issues which tend to not trade as efficiently as do benchmarked/index eligible holdings. Ancora's research efforts in these names are internally generated and rely on various research sources including street generated research and other sources. The firm's taxable fixed income approach utilizes all the investment grade debt market sectors. The firm does not utilize non-investment grade securities in any of their managed accounts. Ancora restricts their fixed income buying to bonds rated A- or higher by one or more of the major rating agencies.Ancora Advisors is an activist firm and is included in the SharkWatch50 as one the 50 most prominent activist investors.

Boards & Committees
Member, Board of Directors
2018 - Current

MutualFirst Financial, Inc. operates as a bank holding company, which provides financial products and services. It engages in accepting retail deposits from the general public and investing those funds primarily in loans. The company also provides one-to four-family residential mortgage loans, multi-family and commercial real estate loans, construction and development loans, commercial business loans, and consumer loans, including home equity and lines of credit, home improvement, auto, boat, and recreational vehicle loans, as well as loans secured by savings deposits, and credit card and unsecured loans. It also provides investment money management and trust services to its customers. MutualFirst Financial was founded in 1889 and is headquartered in Muncie, IN.

Member, Executive Committee
Current

Ancora Advisors aims to preserve and grow their clients’ capital and seeks to invest in companies that are trading at a significant discount to their liquidation or going-concern value. Certain issues may trade below tangible book value. This can occur in times of broad market pessimism or Wall Street concentration with a company’s near-term outlook. Other companies have hidden assets that are not reflected in the company’s financial statements, such as investments in private companies or understated real estate values. Ancora Advisors works to understand catalysts that will unlock the value of the target company’s assets, although the firm may also buy based on a company being too cheap to ignore.

Director
Current

MutualBank (Muncie, Indiana) operates as federally chartered savings institution and provides investment management services. The company is headquartered in Muncie, IN.

Political Donations
Public Holdings
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