In “Tone from the Top…Bank Secrecy Act Update,” Richard Hills discusses recent BSA developments and sheds light on the important “tone from the top” concept about which all bank executive management should be aware as it relates to BSA compliance…. Read More >
What’s it Worth, Q4 2015
U.S. middle-market private equity activity remained strong throughout 2015 as elevated transaction multiples were accompanied by unprecedented levels of debt. The continued abundance of cheap liquidity will likely keep deal prices elevated for the near term, which is good news… Read More >
Birmingham Area Economic Report, Q4 2015
This report explores a few key statistics that paint a picture of the Birmingham area economy. This is the seventh edition of the newly reinstated Porter, White & Company Birmingham Area Economic Report, which is published quarterly. Click here to… Read More >
Bond Buyer Reports on Bid Rigging
The Bond Buyer of Thursday, February 25, 2016 brought a reminder that The Big Short (see our commentary released February 24, 2016) is not the only story of Wall Street malfeasance leading up to the Great Recession. The headline on… Read More >
Make Deal Flow Great Again
Last month, members of the Porter White & Company (PW&Co) team attended a professional conference with over 1,000 middle-market private equity professionals and other capital providers. The story we have heard for the past few years continued – competition to… Read More >
Jim White Examines The Big Short
After being asked several times my opinion on The Big Short (“Short” for short in this writing), a few days ago I went to see the movie. Short is based on the book of the same name by Michael Lewis,… Read More >
The Bank Shot – January 2016
This issue of The Bank Shot gives expert insight on the current regulatory environment as well as an update on the M&A marketplace. In “What to Ask Washington,” Larry C. Lavender identifies issues that community bankers should bring up with… Read More >
Principal Trends and Interest, Q3 2015
This past August Porter White attended the Alabama Bankers Association’s CEO and Directors College in Point Clear, AL. One frequent topic of discussion was the bank merger marketplace. There seemed to be a general consensus that the M&A market was… Read More >
Economic Update, Q3 2015
This economic update provides a snapshot of the local Birmingham economy, a prequel to our quarterly Birmingham Area Economic Report that will be published once regional and national data is made available. Each data series (number of people employed, retail… Read More >
The Role of Bonds in a Portfolio
When markets become more volatile, it is a good time to reflect on the role of bonds in a portfolio. While we do not recommend reacting to short-term changes in market movement, we do think it is a good time… Read More >
What’s it Worth, Q2 2015
U.S Middle-market private equity activity remained strong in Q2 2015 with elevated multiples holding steady. Deal multiples of 15.0x EBITDA are no longer seen as outliers, prompting data providers to increase their deal parameters to include these transactions. The continued… Read More >
Birmingham Area Economic Report, Q2 2015
This report explores a few key statistics that paint a picture of the Birmingham area economy. This is the fifth edition of the newly reinstated Porter, White & Company Birmingham Area Economic Report, which is published quarterly. The results in… Read More >
Shifting Sands in Birmingham’s Banking Scene
Deposit market share data for the U.S. banking system, which provide insight to a given market’s competitive landscape, were released in late September by the FDIC. Such data are released annually by the FDIC as of each June 30th. An… Read More >
Political Tales of Private Sector Success
During the CNN Republican Debate on September 16, 2015, the top eleven (yes, eleven) hopefuls for the party’s nomination spoke to policy issues, personal achievements, and of course, the shortcomings of others. When the topic shifted to the economy and… Read More >
Uber: A Test for Birmingham
The local media have reported that conversations have restarted between the Birmingham City Council and Uber, the ride sharing service that is the prime exemplar of the “sharing economy.” A deal with Uber involving a revised city transportation ordinance would… Read More >
Birmingham Area Economic Report, Q1 2015
This report explores a few key statistics that paint a picture of the Birmingham area economy. This is the fourth edition of the newly reinstated Porter, White & Company Birmingham Area Economic Report, which is published quarterly. The results in… Read More >
Principal Trends and Interest, Q2 2015
We are pleased to present “Addressing Activist Shareholders” by Robert Klingler with Bryan Cave LLP. Klingler explores how banks can manage the delicate issue of activist shareholders. In “The Long and Winding Road…First Half 2015 Bank M&A Scorecard,” we review… Read More >
Remember the Lost Decade
Five years ago, the financial press was talking about the “lost decade.” The S&P 500 had not earned an investor any money, even when including dividends, for the first decade of this century (ending December 2009). While 2009 saw stocks… Read More >
