Last month, PW&Co 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 invest capital and close deals has continued to drive up valuation multiples. Based on the conversations that took place, we identified the following… Read More >
News & Insights
PW&Co Completes Sale of Supreme Cores
PW&Co, a Birmingham investment bank, acted as the exclusive sell-side advisor to Supreme Cores of the Carolinas, Inc. and its subsidiary Supreme Cores Alabama, Inc. (“together, “Company” or “Supreme Cores”) in their sale to JBA Capital (Columbus, GA). The Company produces high quality, complex cores that are used by foundries to shape metal casting products,… Read More >
PW&Co Advises on $301,055,000 BJCC Stadium and Arena Financing
Porter White & Company, a Birmingham-based municipal advisor, advised the Birmingham-Jefferson Civic Center Authority (BJCC) on its $301,055,000 financing for construction of a multi-purpose outdoor stadium and renovation of its Legacy Arena. The complex financing utilized six different series of bonds, which required the coordination of multiple governmental and private entities, including the BJCC, City… Read More >
Peoples Southern Merges with River B&T
River Financial Corporation of Prattville, AL and PSB Bancshares, Inc. of Clanton, AL have closed their merger, effective October 31, 2018. The combined bank has approximately $1.1 billion in total assets, $700 million in total loans and $900 million in total deposits and has fourteen locations across Alabama. Porter White Capital, LLC served as exclusive… Read More >
Peoples Southern Bank Advised by Porter White in Merger with River Bank & Trust
River Financial Corporation of Prattville, AL and PSB Bancshares, Inc. of Clanton, AL announced last week the signing of a definitive agreement under which River Bank & Trust and Peoples Southern Bank will enter into a strategic merger to combine two well-respected banking franchises in Alabama. Upon closing of the transaction, the combined bank will… Read More >
Recent Performance of International Stocks
International stocks have significantly under-performed US stocks, recently. Investors with allocations to international stocks have watched them perform so poorly on a relative basis that they might question why they own them in the first place. Since June 2008, US stocks[1] have earned ~9% per year where International stocks[2] have only earned ~2% per year…. Read More >
Financial Times Top RIA 2018
Porter White Investment Advisors, Inc. is pleased to announce that it has again been named as a Financial Times 300 Top Registered Investment Advisors for 2018. The list recognizes top independent RIA firms from across the U.S. RIA firms applied for consideration, having met a minimum set of criteria. Applicants were then graded on six… Read More >
Long Term Portfolio Returns – January 2018 Update
In order to make sound investment decisions today, we are forced on making long term projections of portfolio returns. The methodology, assumptions, and original inputs for our approach to predicting long term portfolio returns are originally documented in our white paper titled, Projecting Long Term Portfolio Returns[1]. This paper updates the original with data as… Read More >
Porter, White & Company Presents Five-Year Plan to City of Hoover
Porter, White & Company presented a five-year financial plan to the Hoover City Council at its regular meeting Monday night, April 2. The report addressed recent challenges that have emerged in Hoover finances as formerly robust revenue growth and operating surpluses have declined, while expenses have continued to increase at or above the rate of… Read More >
Michael Stone Featured in Rotary Magazine
In the most recent issue, Michael Stone was featured in Rotary International’s magazine in the article, “7 Things You Don’t Know about Rotaract: Decoding the Secrets of their Success.” Michael, a Vice President for the firm who is active in the investment banking practice, is featured as “The Deal Maker.” When asked about his work… Read More >
The Bank Shot, Q4 2017
In this issue of The Bank Shot, our quarterly newsletter for community banks, we take a robust look at the bank M&A arena in 2017. Click here to read the full report.
The Monkey’s Advantage
The Wall Street Journal ran a periodic column a few years ago that compared the performance of some of the best stock pickers to that of monkeys throwing darts at a page of stock listings. After some time, the “monkeys” had done so well that interest in the column waned. How did the monkeys “beat… Read More >
Effect of Stale Returns on Diversification Strategies
In an effort to manage risk and reduce volatility, investors often seek to diversify the holdings in their portfolio. Diversification is sometimes described as the only “free lunch” when it comes to investing. The idea behind diversification is that an appropriately constructed portfolio will yield equivalent or higher returns with less risk than a group… Read More >
First National Bank of Brundidge Advised by Porter White in Sale to Troy Bank & Trust
Henderson Bancshares, Inc. of Troy, AL and First Brundidge Bancshares, Inc. of Brundidge, AL announced yesterday the signing of a definitive agreement for Henderson, the parent company of Troy Bank & Trust, to acquire First Brundidge and its wholly-owned subsidiary First National Bank of Brundidge. Porter White & Company served as exclusive financial advisor to… Read More >
Bank of Wedowee’s Sale to First Bank of Alabama Complete
Bank of Wedowee’s (Wedowee, AL ) sale to First Bank of Alabama (Talladega, AL) was completed this week. The combined institution has approximately $540 million in total assets through six banking locations in east Alabama. Principals of Porter White & Company, acting as registered representatives of Spearhead Capital, LLC, served as exclusive financial advisor to… Read More >
The Bank Shot – August 2017
In This Issue In “Up, Up and Away…Bank M&A Scorecard June 30, 2017,” we discuss how M&A activity and pricing so far in 2017 is noticeably up compared to 2016. In “The Ol’ Pea Under the Shell Game,” former Alabama Speaker Pro Tempore and guest author Bobby Tom Crowe discusses money laundering in part one… Read More >
Michael Stone Promoted to Vice President
Porter White & Company is pleased to announce the promotion of Michael Stone to Vice President. Michael joined the firm in January 2011 and is active in the investment banking practice, focusing on mergers and acquisitions (buy-side and sell-side), capital raising, municipal advisory, strategic consulting, business valuations, and distressed situations. Michael earned his BS in… Read More >
Benefits of a Donor Advised Fund
Each year around the end of March, I spend at least half a day tracking down my charitable contribution receipts in the hope of increasing my tax refund with a charitable deduction. There are plenty of tools to help me keep track of the donations, but inevitably I find myself hunting through stacks of paper… Read More >
