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 the merger marketplace and look for clues to understand the forces currently affecting bank M&A…. Read More >
News & Insights
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 plummet to a market low on March 9, 2009, they came back significantly by the… Read More >
PW&Co Provides Valuation Opinion for HomeTown Bancorp of Alabama
PW&Co was retained by HomeTown Bancorp of Alabama, Inc. (Oneonta, AL) to provide a valuation opinion to the board of directors. PW&Co provided a third-party, independent valuation after performing due diligence, considering certain scenario analysis, and applying various industry standard valuation techniques using comparable company and transaction data. Michael Stone, CFA, AM worked on this… Read More >
Projecting Long Term Returns
One of our fundamental responsibilities as an investment manager is to build sound investment portfolios. The objective of our portfolios is to meet the fundamental return needs of our clients while taking an acceptable level of risk. Inevitably, this requires that we take a long term perspective on the returns that are available from the… Read More >
What’s it Worth, Q1 2015
This report 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 the question “What’s it Worth?,” keeping in mind that proper preparation for real world transactions requires analysis… Read More >
PW&Co Provides Valuation on Option to Purchase Publicly Traded Shares
Porter White & Company (PW&Co) was retained to provide a valuation of options on shares of a publicly traded company awarded to employees. PW&Co provided a third-party, independent valuation of the stock options after analyzing the Company’s historical trading volatility, pricing, and dividend yield and applying industry standard valuation techniques using option pricing models. Prior… Read More >
PWCo: Top Financial Service Provider in BBJ
Porter, White & Company (PW&Co) has been included on two prominent lists published by the Birmingham Business Journal. According to the Birmingham Business Journal’s Newsroom, PW&Co is the 14th largest “Financial Planner” in Birmingham. Also, based on local assets under management, PW&Co is ranked 16th on “Birmingham’s Top Investment Brokers List”. “We are an investment… Read More >
Birmingham Leading in Charitable Giving
As investment bankers, we analyze the economic environment of the local area as well as the nation to better understand how it might affect our clients. Goodloe White, President of PW&Co, recently wrote an op-ed on charitable giving to the Birmingham News. In it, he considers the factors that make Birmingham the third “most giving… Read More >
SouthPoint Bank Valuation Opinion by PWCo
PW&Co was retained by SouthPoint Bank of Birmingham, AL to provide a valuation opinion in conjunction with a stock option plan. PW&Co provided a third-party, independent valuation after performing due diligence, considering certain scenario analysis, and applying various industry standard valuation techniques using comparable company and transaction data. Michael Stone, CFA, AM worked on this… Read More >
Principal Trends and Interest, Q1 2015
In “Party Like It’s 1999?…First Quarter 2015 Bank M&A Scorecard,” we review the merger marketplace and look for clues to understand the forces currently affecting bank M&A. Porter White is also pleased to present “CFFB ‘Hot-Button’ Areas to Know” by Dave Dresher with Bradley Arant Boult Cummings LLP. In the article, Dresher discusses the typical… Read More >
The BBJ Covers PWCo’s Q4 2014 Economic Report
The Birmingham Business Journal again covered PW&Co’s Birmingham Area Economic Report, noting the Birmingham area’s improvements in most areas. Click here to read the article in the BBJ. Click here to read PW&Co’s 4Q 2014 Report. We will release the economic newsletter quarterly. If you would like to receive the newsletter by email, please subscribe… Read More >
Birmingham Area Economic Report, Q4 2014
This report explores a few key statistics that paint a picture of the Birmingham area economy and indicate that the growth of our economy has generally lagged in comparison to state and national growth rates. This is the third edition of the newly reinstated Porter, White & Company Birmingham Area Economic Report, which is published… Read More >
What’s it Worth, a Valuation Newsletter
This report initiates Porter, White & Company’s Quarterly Valuation Review, 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 the question, “What’s it Worth?,” keeping in mind that proper preparation for real world transactions requires analysis of specific… Read More >
The BBJ Covers PW&Co’s Economic Report
The Birmingham Business Journal recently covered PW&Co’s Birmingham Area Economic Report in a segment about the growth of metro Birmingham with relation to similar areas. Click here to read the article in the BBJ. Click here to read PW&Co’s most recent Birmingham Area Economic Report. We will release the economic newsletter quarterly. If you would… Read More >
Birmingham Area Economic Report, Q3 2014
This report explores a few key statistics that paint a picture of the Birmingham area economy and indicate that the growth of our economy has generally lagged in comparison to state and national growth rates. This is the second edition of the newly reinstated Porter, White & Company Birmingham Area Economic Report, which is published… Read More >
Great Time to be a Seller – ACG Conference
Last week, Porter White attended the ACG Capital Connection in Atlanta with over 1,000 middle-market private equity professionals and other capital providers. The story we heard all last year continued – competition to invest capital and close deals has continued to drive up valuation multiples. Larger companies ($10+ million EBITDA) are garnering multiples of over… Read More >
Principal Trends and Interest, Q4 2014
Porter, White & Company presents Principal Trends and Interest, a newsletter for community banks. In this issue we look at the curious case of today’s M&A environment and two services banks require but often overlook. 2014 M&A Scorecard: Clear as Mud? What to do about Distressed Business Borrowers? My Bank’s ESOP Needs Advice 2014 BANK… Read More >
PWCo Provides Fairness Opinion for Graham
Porter White & Company (PW&Co) was retained by Graham Commercial Properties (GCP) to provide a fairness opinion in connection with a confidential acquisition. PW&Co provided a third-party, independent valuation of the assets being acquired after performing due diligence, considering certain scenario analysis, and applying various industry standard valuation techniques using comparable company and transaction data…. Read More >
