MABSCO was founded in 1982 as MidAmerican Bank Services Company, an agricultural credit corporation, to provide specialized financial services to banks. MABSCO later became affiliated with 12 state bankers’ associations before being acquired by Mutual of New York.
MABSCO is independently owned. Dave Mulcahy purchased MABSCO in 1993. At that time, MABSCO was concentrated on portfolio management services for USDA Farm Service Agency loan portfolios held by financial institutions and corporate trusts.
After 1993, MABSCO expanded its financial services to include venture capital portfolio management, private placement investment advisory, and financial consulting. MABSCO also moved into providing trust services and the secondary market of buying and selling government guaranteed loans.
Today, MABSCO remains active and engaged in a broad selection of services, including: portfolio management, private placement, financial consulting, private equity, and joint venture transactions. MABSCO also has expanded its government portfolio management services to more than 40 states and has serviced more than 1,500 loans, totaling over $300 million.
MABSCO responds to the ever-changing needs of the financial markets by remaining flexible in its approach and focused on providing solutions to specialized customer needs.