About Us
Baxter Capital Management (BCM) was founded in 1979 by Gary L. Baxter, who had previously served for 9 years as Vice President/Chief Economist at the Federal Home Loan Bank of Indianapolis, and for more than two decades also served as Chairman of the Indiana State Forecast Committee, a non-partisan group whose output determined the State's revenue projections.
A pioneer of interest rate risk (IRR) analysis, Dr. Baxter was among the first to develop IRR models for the FHLBI, and in 1982, along with James T. Herreman, Ph.D., he developed the Baxter Capital Management IRR Model, which has been an invaluable tool for our financial institution clients for almost 40 years.
With a wholehearted commitment to integrity and excellence, Baxter Capital Management has become a well-known and trusted name for investments, asset/liability management, and economic consulting.
In 2013, David C. Smith, a graduate of Taylor University ('09) with a major in Economics and a minor in Mathematics, joined the Baxter Capital team and became President/CEO in 2014 with Dr. Baxter remaining as the firm's Chief Economist. This partnership has allowed our clients to continue to benefit from the integrity and excellence they have come to expect from BCM.
As a Registered Investment Advisor, Dave brings more than a decade of experience in fixed income securities and economic analysis. He is also active within the credit union community and enjoys regularly speaking at events to explain the current economic environment, potential investment strategies, and the various complexities of balance sheet management and interest rate risk.
