Our quarterly valuation review explores recent valuation trends in the public and private markets, directed to small and middle market business owners and the professionals and financial institutions that serve them. The review is designed to provide realistic guidance on… Read More >
Municipal Market Update – February 2017
Our Municipal Market Update is data-driven, one page sheet that is intended to give you an overview of key interest rates – both floating and swap-to-fixed as well as the credit spreads of key local and state entities with data… Read More >
The Bank Shot – February 2017
Click here for the PDF. In This Issue In “Trump Bump?…2016 Bank M&A Scorecard,” we discuss how M&A in 2016 was down compared to 2015 but wonder if the November election could be a boon to 2017 bank M&A. In… Read More >
Birmingham Area Economic Report, Q3 2016
This report explores a few key statistics that paint a picture of the Birmingham area economy. This is the tenth edition of the newly reinstated Porter, White & Company Birmingham Area Economic Report, which is published quarterly. The results in… Read More >
Municipal Market Update – January 2017
Our Municipal Market Update is data-driven, one page sheet that is intended to give you an overview of key interest rates – both floating and swap-to-fixed as well as the credit spreads of key local and state entities with data… Read More >
Municipal Market Update – December 2016
As anticipated, the Federal Reserve raised its benchmark interest rate at the December meeting for the first time since 2015. The central bank indicated that it expects gradual increases in the federal funds rate in the near-term as the economy… Read More >
Should I Check the Per Stirpes Box?
Many people save for retirement in a defined-contribution retirement plan (like a 401k) or an individual retirement account (traditional or Roth IRA). It is important to designate beneficiaries for accounts. The forms, often seemingly simple to fill out, have hidden… Read More >
Make Small Cap Stocks Great Again?
The stock markets in the days immediately following the recent US presidential election were surprising to many in a number of ways. US small company stocks experienced higher returns than US large company stocks. This period helps illustrate how different… Read More >
Municipal Market Update – November 2016
Porter White & Company is pleased to release its monthly Municipal Market Update, with data as of November 30, 2016. This data-driven, one page sheet is intended to give you an overview of key interest rates – both floating and… Read More >
Municipal Market Update – October 2016
Porter White & Company is pleased to release its first monthly Municipal Market Update, with data as of October 31, 2016. This data-driven, one page sheet is intended to give you an overview of key interest rates – both floating and swap-to-fixed… Read More >
The Bank Shot – October 2016
In “IRS Besieges Family Controlled Banks,” we discuss proposed regulations that could have far-reaching and punitive consequences for family-owned banks. In “Q3 2016 Bank M&A Scorecard,” we review current trends in bank M&A and discuss the impact of loose-lipped politicians…. Read More >
Do Investment Consultants Pick Winners?
Investors hire advisors for a number of reasons, but the primary reason is usually that they want help choosing investments. Individuals typically rely on brokers or investment advisors. Institutions are served by “investment consultants” who specialize in helping them manage… Read More >
The Municipal Advisor Under Dodd-Frank
One of the reforms mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (“Dodd-Frank”) is the endorsement in law and regulation of the role of Municipal Advisors in the issuance of municipal bonds and other related… Read More >
What’s It Worth, Q1 2016
Our quarterly valuation review explores recent valuation trends in the public and private markets, directed to small and middle market business owners and the professionals and financial institutions that serve them. The review is designed to provide realistic guidance on… Read More >
Intergenerational Transfers of Businesses
On August 4th of this year, the Internal Revenue Service issued proposed regulations under Internal Revenue Code Section 2704 designed to limit consideration of marketability and control factors in the valuation of family-held business interests in estate, gift and generation-skipping… Read More >
Birmingham Area Economic Report, Q1 2016
The headline news of this report is that job growth for the ten years ending March 31, 2016 in the Birmingham-Hoover MSA has lagged behind all but one comparable Southeastern MSA and that job growth for the last ten years… Read More >
The Bank Shot – July 2016
In this quarter’s newsletter, we examine where bank stocks trade and their effect on bank M&A pricing. Rising Tide?…Bank M&A Scorecard June 30, 2016 The first half of 2016 bank M&A activity is in the books and nationally there were… Read More >
Thoughts on Brexit
Last Thursday, June 23, citizens of the United Kingdom voted to leave the European Union. On Friday, June 24, equity markets worldwide lost over $2 trillion dollars with percentage declines outside of Great Britain generally exceeding those on the London… Read More >
