1. Apr 25, 2013, 1
1:25am CDT Updated: Apr 25, 2013, 12:07pm CDT
Kevin Blair – President/CEO - NewGround
How a St. Louis firm dependent on
the banking industry survived!

2. How a St. Louis firm dependent on the banking
industry survived
The financial crisis slashed revenue by more than 50 percent in just three years at NewGround, a St. Louis firm that designs and
builds bank branches. Once one of the fastest-growing businesses in St. Louis, NewGround reached a peak of $111 million in
revenue in 2007 and fell to $52 million in 2010.
“Spending on brick and mortar declined 60 percent nationwide from 2007 to 2010,” said Kevin Blair, president and chief executive.
That’s turning around, with New Ground reaching $72 million in revenue in 2012 and targeting $80 million this year and $100
million in 2015. It’s another sign of a recovery in the banking industry.
“The bankers have begun to leave their bunkers, or at least they’re peaking out,” said Rick Bagy, president of First National Bank of
St. Louis, which is planning to remodel its Clayton branch and has been a NewGround client.
NewGround survived because it was diversified, Blair said. In addition to design and construction, it offers digital communications
and merchandising, such as interactive lobby computer screens, and branding. For example, it worked with BMO Harris Bank on
its rebranding from M&I Bank.
Of NewGround’s $72 million in 2012 revenue, $32 million came from services unrelated to design and construction.
NewGround has been dipping into health care and has 30 clinics in five states under design. “We’re optimistic about that market
over the next 10 years,” Blair said, and it is expected to contribute $10 million in revenue this year.
In addition to BMO and First National, St. Louis clients include Commerce Bank, Vantage Credit Union and Midwest BankCentre.
NewGround also has offices in Chicago, Atlanta, Portsmouth, N.H., and Waterloo, Ontario. It employs 145, including 65 in St.
Louis, and plans to add 25 here by the end of 2014.
Kevin Blair, President / CEO of NewGround