Investment Banking Update - Elliott Davis · Capital Partners. Prior to joining Triangle Capital Partners in 2002, Wagner was a Senior Vice President at Trident Securities. He served

Investment Banking Update

Bill Sammon, Managing Director Raymond James & Associates, Inc. Mr. Sammon has over 17 years of experience in the investment business focusing on Financial Institutions. His background includes institutional sales, capital formations of public and private instruments and private equity. He currently manages the Financial Institutions Sales and Trading Group which makes principal markets in over 600 banks. He is a member of the advisory board for the HBI Private Equity Fund I, HBI Private Equity Fund II and ICBA Private Equity Fund I and is a director of HBI Funds LLC. Mr. Sammon is a graduate of the University of Iowa with a Bachelor's degree in Economics. Bill Wagner, Managing Director Raymond James & Associates, Inc. Mr. Wagner joined Raymond James in 2011 as part of the merger with Howe Barnes Hoefer & Arnett. Prior to joining Howe Barnes in 2005, Wagner co-founded the Financial Institutions Group at Triangle Capital Partners. Prior to joining Triangle Capital Partners in 2002, Wagner was a Senior Vice President at Trident Securities. He served as a Vice President and corporate tax manager of First Citizens Bank, Raleigh, NC prior to joining Trident. He began his career as a tax consultant at Deloitte & Touche in Columbus, OH. Wagner holds a BS degree from Miami University and an MBA degree from the Fuqua School of Business at Duke University. Wagner is also a Certified Public Accountant. Attorney Panel Discussion BT Atkinson, Partner Bryan Cave LLP B.T. is a partner in the Charlotte office of Bryan Cave, an international law firm. He has a general corporate, securities and regulatory practice focused on serving regional and community banks in the Carolinas. His recent transactions include private equity led recapitalizations, TARP securities auctions, acquisitions, and branch dispositions. BT has been admitted to practice in North Carolina for over 20 years, and was recently admitted in South Carolina after passing the state's bar exam in July. Prior to attending law school, Mr. Atkinson was an accountant with Price Waterhouse in its Charlotte office. He is a frequent speaker for both the North and South Carolina Bankers Associations.

Neil Grayson, Partner Nelson Mullins Riley & Scarborough LLP Neil Grayson, a partner with Nelson Mullins Riley & Scarborough LLP, is the head of the Firm's Financial Institutions Practice Group and the Mobile Payments Practice Group. Mr. Grayson advises clients on matters related to corporate governance, bank regulatory matters, securities offerings and reporting requirements, mergers and acquisitions, executive compensation, and related corporate matters. Mr. Grayson is also on the board of directors of Public Education Partners and the South Carolina Student Loan Corporation. Chip King, Shareholder Haynsworth Sinkler Boyd, P.A. Chip King is the senior member of the Firm’s corporate securities and financial institution regulatory practices. In the securities area, he has acted as SEC counsel in dozens of IPOs and registered offerings. He regularly advises both reporting and non-reporting companies and their directors on their fiduciary duties in the context of shareholder proposals, tender offers, proxy contests, going private transactions and general corporate law. Economic Update Bruce Yandle, Dean Emeritus Clemson University Bruce Yandle is a consultant, writer and speaker on economics and political economy. He is Mercatus Center Distinguished Adjunct Professor of Economics at George Mason University and participates regulatory in the Center’s Capitol Hill lecture series. Yandle is Dean Emeritus of Clemson University’s College of Business & Behavioral Science and Senior Fellow Emeritus, Property & Environment Research Center (PERC) in Bozeman, MT. While serving as Alumni Distinguished Professor of Economics at Clemson University, he taught in graduate programs in France, Italy, Germany, and the Czech Republic. He is author/editor of 17 books, including his forthcoming co-authored Cato Institute book, Bootleggers and Baptists: Understanding America’s Regulatory Journey. Dr. Yandle served in Washington on two occasions, first as a senior economist on the White House staff during the Ford Administration and later as Executive Director of the Federal Trade Commission in the Reagan Administration.

Investing in the 3rd Era of Banking Ryan Tillery Performance Trust Capital Partners, LLC Since joining Performance Trust Capital Partners, LLC in 2006, Ryan has been focused primarily on the education and application of the Total Return Shape Management® methodology. He is a Director and shareholder at Performance Trust and a recurrent speaker at Principles of Performance™, formerly Bond Math University®. In addition, Ryan routinely presents to senior management teams, ALCOs, and Boards of Directors at financial institutions across the country. Ryan graduated from Westmont College in Santa Barbara, California in 2003 with a Bachelor of Science degree in business and economics. Issues Facing Community Banks Michael Crapps, CEO First Community Bank Michael C. “Mike” Crapps is a lifelong resident of Lexington County and a 1976 graduate of Lexington High School. He received a B.S. degree in Economics in 1980 from Clemson University, an MBA degree from the University of South Carolina in 1984, and is a graduate of the LSU Graduate School of Banking of the South. He began his banking career in 1980 and, from 1985 through 1994; he was with Republic National Bank in Columbia, becoming president, chief executive officer and a director of that bank. He is a founder of First Community Bank and has served as its president and chief executive officer, as well as on its board of directors since opening the bank in 1995. First Community Bank serves local businesses, entrepreneurs, and professionals with financial solutions in three primary lines of business: commercial banking; residential mortgage banking; and financial planning/investment advisory services. The Bank has $630 million in total assets with eleven offices in the midlands of South Carolina. Sam Erwin, CEO The Palmetto Bank Mr. Erwin has served as Chief Executive Officer and President of The Palmetto Bank since July 2009 and is also the Chief Executive Officer of Palmetto Bancshares, Inc. (holding company for The Palmetto Bank, NASDAQ: PLMT). Mr. Erwin began his banking career in 1990 with First Union National Bank (now Wells Fargo) in various capacities, and just prior to The Palmetto Bank he served as Chief Executive Officer of Community Bancshares, Inc. in Orangeburg, SC. Mr. Erwin has extensive knowledge and experience in banking and the financial services industry.

Mr. Erwin is a Greenwood County native and a cum laude graduate of Clemson University where he received the prestigious Algernon Sydney Sullivan Award. He was named Outstanding Young Banker in 2005 by SC Bankers Association and was also recognized as one of the “Top 20 Under 40” by The State in 2004. Mr. Erwin is involved in a wide variety of civic and professional organizations including serving on the Board of Directors for Ten at the Top, the Greenville Chamber of Commerce, Greenville Free Medical Clinic, The Palmetto Society of United Way, Greenville Tech Foundation, and Business Development Corporation of South Carolina. Jerry Rexroad, CEO Carolina Financial Corporation Jerold L. Rexroad is President and Chief Executive Officer of Carolina Financial Corporation. Mr. Rexroad is also Senior Executive Vice President and Chief Administrative Officer of CresCom Bank, a $900 million community bank headquartered in Charleston, SC and Chief Executive Officer and Chairman of the Board of Crescent Mortgage Company. Crescent Mortgage Company is a wholesale mortgage company which operates in 43 states and has originated $2 billion in mortgage loan volumes annually. He is a Certified Public Accountant with over 20 years of experience in financial institution management. Mr. Rexroad graduated cum laude from Bob Jones University and began his career in 1982 with Peat, Marwick, Mitchell and Co., a predecessor to the national accounting firm KPMG LLP. He became a KPMG partner in 1994 with responsibilities for all financial institutions in South Carolina. A&A Update Lee Haynes, Shareholder Elliott Davis Lee has more than 20 years of combined experience in public accounting and accounting/management positions in publicly held companies. He has participated in the audits of larger entities, including multinational and multistate operations. Lee concentrates his time in the financial services industry serving both publicly traded as well as privately held community banks located in North Carolina, South Carolina and Virginia. In addition to financial services expertise, Lee has extensive experience with preparation of consolidated financial statements, Securities and Exchange Commission (SEC) filings and Sarbanes-Oxley compliance. Garry Rank, Shareholder Elliott Davis Garry focuses on corporate auditing and accounting as well as consultation regarding governance, financial systems and internal controls. With more than 33 years of experience, his industry concentrations include financial services, manufacturing and Securities and Exchange Commission (SEC) reporting. Additional professional experience includes the management of complex engagements, mergers and acquisitions, projects involving subsidiary companies and the application of accounting and reporting standards.

Regulatory Panel Discussion Michael Egan, Supervisor Examiner Federal Deposit Insurance Corporation Mike began his FDIC career in 1985 as a Bank Liquidation Specialist and came to the Bank Supervision Division in 1997 as a Bank Examiner in the Charlotte, NC. He left the FDIC for three years while he served as a consultant to the banking and financial services industry. However, he returned in 2004, and currently serves as a Supervisory Examiner in the Charlotte FO where he provides input on complex issues at examinations and reviews the ALLL methodologies at exams throughout the Charlotte Territory. Prior to his appointment as a Supervisory Examiner, Mike was a Senior Bank Examiner in the Complex Financial Institutions Branch in the Washington Office. As the Acting Assistant to the Deputy Director for Complex Financial Institutions, Mike worked on many high profile and complex matters. He is a Certified Public Accountant, and regularly speaks to audiences inside and outside the Corporation regarding accounting matters. Mike has participated in the Corporation’s Executive Leadership Program and is a graduate of Widener University, Chester, PA. In 2012, he received a Certificate in Forensic Accounting from UNC-Charlotte. Paul Frey, Supervisory Examiner Federal Reserve Bank of Richmond Paul is a Managing Examiner for the Federal Reserve Bank of Richmond. He works in the Supervision, Regulation & Credit Department and is based out of the Charlotte, North Carolina office. Paul’s primary responsibilities include managing the regulatory relationships of a portfolio of large and complex holding companies across the Fifth District. Paul has over twenty years of regulatory experience serving in a variety of capacities and started his career with the Federal Reserve Bank of Philadelphia. Paul is a native of the Philadelphia, Pennsylvania area, and received his Bachelors of Science degree in Accounting from the Pennsylvania State University, and his Masters of Business Administration degree from Saint Joseph’s University. Kelly Maher, Senior Analyst Officer of the Comptroller of the Currency Kelly Maher is the Analyst to the Assistant Deputy Comptroller (ADC) in the Charlotte field office and has served in this capacity since 2011. In this role, Ms. Maher is primarily responsible for assisting the ADC with field office operations, providing technical expertise to field examiners, and analyzing supervision findings for the office’s portfolio of banks and thrifts. She also acts as a conduit between field examiners and other regulatory agencies on matters that affect the office’s banks and thrifts. Presently, the Charlotte field office supervises all nationally chartered community banks and federal savings associations (“thrifts”) operating in North and South Carolina. Ms. Maher began her career with the OCC in 2005 and was commissioned as a National Bank Examiner in 2009. She graduated from the University of Tampa in 2005 magna cum laude and with a bachelor’s degree in finance

el l iot td av is . co m © Elliott Davis LLC © Elliott Davis PLLC

200 East Broad Street

Suite 500

Greenville, SC 29601

Direct: 864.552.4763

Office: 864.242.3370

Fax: 864.241.5713

[email protected]

Robert Beckwith, CPA Shareholder

Services: Tax | Industries: Financial Services

Professional Overview

Bob focuses on providing tax consulting services to clients in the financial services

industry. Bob has more than 30 years of bank tax consulting and compliance

experience, including 20 years at a Big Four accounting firm. He assists clients with

financial reporting in accordance with FASB ASC 740 and planning and analysis of C

corporation tax issues including mergers and acquisitions, tax benefit limitations

upon Sec. 382 change-of-control, compensation and golden parachutes, and

accounting methods and periods. Bob has served multi-billion dollar organizations,

filing complex consolidated and multi-state returns. He also possesses expertise in

planning for the election to be an S corporation bank and the resulting compliance

issues.

Education, Credentials and Special Training

Certified Public Accountant

M.S., Accounting, Colorado State University

B.S., Business Administration with emphasis in accounting, University of Nebraska

Professional Affiliations

American Institute of Certified Public Accountants

South Carolina Association of Certified Public Accountants

Thought Leadership

Panelist, Bank Tax Institute Community Banking Panel

Co-instructor, Co-Community Bank Tax Workshop


1901 Main Street

Suite 900

Columbia, SC 29201

Direct: 803.255.1497

Office: 864.242.3370

Fax: 803.255.0733

[email protected]

William (Bill) J. Bossong, CPA, CBA

Shareholder

Financial Institutions Group Consulting

Services: Consulting | Industries: Financial Services


Bill has more than eight years of public accounting experience with an emphasis in financial

institutions and SEC registrants. He leads the firm’s Financial Institution Consulting Practice

for merger and acquisition matters. These services include due diligence projects, Day 1

valuations, Day 2 accounting and internal audits over other Day 2 providers. This team has

developed ValuCastTM, a proprietary solution designed to assist banks with Day 2

accounting. In addition, Bill has a significant amount of experience related to the Allowance

for Loan and Lease Losses (ALLL) under ASC 450-20 and ASC 310-10 to include building an

ALLL model for a large regional bank. Bill has served on numerous FDIC-assisted and whole

bank valuation projects – managing the credit review of the loan portfolios being acquired;

gathering data for the loan valuation; and working closely with other members of the

valuation team to develop an expected cash flow model for Day 2 accounting under ASC

310-30.

Bill has also worked closely with the valuation team for various financial service line of

business acquisitions to include leasing companies, mortgage companies, and broker

dealer/investment companies. Bill provides consulting services to numerous clients ranging

in size from $400 million in assets to over $20 billion in assets.



Certified Bank Auditor

Master of Accountancy, University of South Carolina

B.S., Accounting, University of South Carolina

SEC Reporting, AICPA




Civic and Community Activities

Walk Team Captain, Juvenile Diabetes Research Foundation

Board of Directors, Midlands March of Dimes

Deacon and Former Member of the Finance Committee, First Baptist

Church of Columbia


1901 Main Street

Suite 900

Columbia, SC 29201

Direct: 803.255.1203

Office: 803.256.0002

Fax: 803.255.0714

[email protected]

R. Jason Caskey, CPA Shareholder and Financial Services Practice Leader

Services: Assurance | Industries: Financial Services


As leader of the firm’s Financial Services practice, Jason focuses on serving financial

institutions and SEC registrants. With more than 20 years of experience, he serves

community banking clients in both the private and public sector. Jason has assisted

clients with the formation of holding companies, public stock offerings, mergers and

acquisitions, and has been shareholder on numerous de novo banks. In addition, he

also serves clients with a number of consulting engagements including outsourced

internal audit, external loan reviews, Bank Secrecy Act reviews and Day 1 and Day 2

accounting. Jason recently completed six years as an elected member of the firm’s

Executive Committee. He also serves as the managing shareholder of the firm’s

Columbia office.




University of Virginia National Banking School



South Carolina and North Carolina Association of Certified Public Accountants

State Bankers Associations in South Carolina, North Carolina, Georgia and Virginia

Independent Bankers Association of South Carolina


Board of Directors and Audit Committee, United Way of the Midlands

Board of Directors and Audit Committee, Navigating from Good to Great

Board of Directors and Audit Committee, South Carolina Student Loan Corporation

Board of Directors and Audit Committee, Central Carolina Community Foundation

Board of Directors and Audit Committee, SC Economics

Board of Advisors and Audit Committee, USC Business Partnership Foundation

Member, Greater Columbia Chamber of Commerce Finance Committee

Deacon, First Baptist Church of Columbia

Columbia Chamber of Commerce Committee of 100

Former Member Board of Directors, Children’s Trust of South Carolina

Former Member Board of Trustees, Charleston Southern University

Former Member Board of Directors, Juvenile Diabetes Research Foundation

2011 Heart Ball Chair, American Heart Association, Columbia

2008 Distinguished Young Alumnus, USC Moore School of Business

Class of 2006 "20 Under 40,” The State


700 East Morehead Street Suite 400 Charlotte, NC 28202 Direct: 704.808.5208 Office: 704.333.8881 Fax: 704.749.7908 [email protected]

Lee E. Haynes, CPA Shareholder Services: Assurance | Industries: Financial Services Professional Overview Lee has nearly 20 years of combined experience in public accounting and accounting/management positions in publicly held companies. He has participated in the audits of larger entities, including multinational and multistate operations. Lee concentrates his time in the financial services industry serving both publicly traded as well as privately held community banks located in North and South Carolina. In addition to financial services expertise, Lee has extensive experience with preparation of consolidated financial statements, Securities and Exchange Commission (SEC) filings as well as Sarbanes-Oxley compliance. Since enactment of Sarbanes-Oxley, Lee has overseen audits of internal control over financial reporting as required by Sarbanes-Oxley for audit clients as well as assisted in the design, documentation and implementation of internal control programs for non-audit SEC registrant clients. Education, Credentials and Special Training Certified Public Accountant B.A, Accounting, Furman University National Banking School, McIntire School of Commerce at the University of Virginia Professional Affiliations American Institute of Certified Public Accountants North Carolina Association of Certified Public Accountants South Carolina Association of Certified Public Accountants Georgia Society of Certified Public Accountants



Suite 500


Direct: 864.242.2691

Office: 864.242.3370

Fax: 864.241.5798

[email protected]

F. Andrew Mitchell, CPA Shareholder

Services: Assurance, Consulting | Industries: Financial Services, Manufacturing &

Distribution, Professional Services


Andy focuses on providing clients with corporate strategy, transaction, finance and

auditing services. With more than 35 years of accounting experience, including 20

years with a Big Four accounting firm, his extensive background includes significant

work with public companies and merger and acquisition transactions in the

financial services, professional services, manufacturing and distribution industry

sectors. As an audit partner, Andy served numerous public company clients and

was the partner for more than a dozen initial public offerings. He also presently

serves as an elected member of the firm’s Executive Committee.

Andy also served as chief financial officer for a publicly held company and two

large private companies. In this capacity, he was responsible for all financial areas

including accounting, acquisitions, budgeting, forecasting, credit, cash

management, borrowings, information systems and stock offerings for these

companies. Andy participated in the completion of an initial public offering and a

secondary offering for the public company which owned numerous retail stores,

then negotiated the sale of the company. He also participated in the acquisition of

a large operating subsidiary in the aviation service industry where he was actively

involved in the completion of an $80 million underwritten bond offering and

subsequent registration of those securities. For the third company, he was

responsible for the reorganization and ultimate sale of the company which was

involved in the sale of hardware and software development and integration

services for national retail chains.

Since joining Elliott Davis, Andy has been responsible for the formation and

development of the firm’s transaction services practice. As an assurance

shareholder, he primarily serves financial institution clients, including several

public reporting companies.



B.B.A., Accounting, University of Cincinnati





700 East Morehead Street

Suite 400

Charlotte, NC 28202

Direct: 704.808.5293

Office: 704.333.8881

Fax: 704.749.7993

[email protected]

George Noonan, CPA Shareholder

Services: Tax | Industries: Financial Services


With more than 18 years of experience in public accounting, George has worked

extensively in the banking and related industries. He provides his clients with a

variety of services including tax planning and research, ASC 740 consultation, FIN

48 analysis, tax return preparation, quarterly estimate preparation, forecasts and

projections. His experience includes tax preparation and consulting of numerous

financial institutions. George has served multi-billion dollar financial institutions

filing complex consolidated and multi-state income tax returns.



B.S., Accounting and Finance, Wright State University

Bank Tax Institute, Annually



North Carolina Association of Certified Public Accountants

North Carolina Bankers Association

South Carolina Bankers Association


3900 Westerre Pkwy

Suite 102

Richmond VA 23233

Direct: 804.887.2256

Office: 804.612.4380

Fax: 877.803.0432

[email protected]

Paul M. Pickett, CPA Shareholder



Paul focuses on providing professional accounting services to the financial services

industry, specifically community banks. With more than 20 years of public

accounting experience, he has served on audit engagements for more than 40

community banks and bank holding companies in Virginia, West Virginia, North

Carolina and South Carolina. Paul has extensive knowledge of GAAP and SEC

policies and assists clients with the preparation of consolidated financial

statements, quarterly reviews and assistance with SEC filings and reporting, and

merger and acquisition reporting. In addition, he serves as an instructor for a

number of continuing education courses relating to financial institution accounting

and auditing.



University of Virginia National Banking School and National Banking Conference,


B.B.A., Accounting, Radford University



Virginia Society of Certified Public Accountants


Virginia Association of Community Banks

Virginia Bankers Association

West Virginia Bankers Association



Suite 500


Direct: 864.242.2638

Office: 864.242.3370

Fax: 864.241.5819

[email protected]

Garry A. Rank, CPA Shareholder

Services: Assurance | Industries: Financial Services, Manufacturing & Distribution


Garry focuses on corporate auditing and accounting as well as consultation

regarding governance, financial systems and internal controls. With more than 33

years of experience, his industry concentrations include financial services,

manufacturing and Securities and Exchange Commission (SEC) reporting.

Additional professional experience includes the management of complex

engagements, mergers and acquisitions, projects involving subsidiary companies

and the application of accounting and reporting standards.



Graduate, American Bankers Association, Business of Banking School

B.S., Accounting, University of Akron


American Institute of Certified Public Accountants, Center for Audit Quality Small

Firm Task Force

South Carolina Bankers Association


Georgia Bankers Association


Past President and Past Treasurer, Habitat for Humanity of Greenville County

Alumnus, Leadership Greenville, Greenville Chamber of Commerce

Past President and Past Treasurer, Greenville Breakfast Rotary Club

Thought Leadership

Speaker on audit committee responsibilities

SCBA/FDIC Directors College, 2003-2011

NCBA Bank Directors Assembly, 2004, 2007-2011

Presentations on SEC, corporate governance and new accounting pronouncements

Elliott Davis CFO consortium, 2003-2011

Authored various articles for publication regarding corporate governance,

Sarbanes-Oxley Act of 2002 and ethics



Suite 500


Direct: 864.242.2625

Office: 864.242.3370

Fax: 864.241.5830

[email protected]

Barbara S. Rushing, CPA Shareholder



Barbara focuses on providing services to SEC clients in the financial services

industry. With more than 20 years of experience, including several years at a Big

Four accounting firm, Barbara has extensive knowledge of GAAP and SEC policies.

She works with SEC registrant clients with complex accounting issues, comment

letters, stock offerings and merger and acquisition reporting. Barbara has serviced

more than 40 public offerings.

Barbara is Vice Chairperson of the Firm’s Assurance & Advisory Committee, a

technical committee that oversees quality control policies and risk management of

the Firm’s attest practice.








1901 Main Street Suite 900 Columbia, SC 29201 Direct: 803.255.1214 Office: 803.256.0002 Fax: 864.241.5808 [email protected]

Beverly A. Seier, CPA, CPCU Shareholder

Services: Tax | Industries: Financial Services and Insurance


With more than 20 years of experience, Bev focuses on serving financial

institutions, insurance companies and SEC registrants. She provides both public

and private clients with a wide range of services, including tax planning and

compliance, ASC 740 and SSAP 101 tax provision consulting, federal and state audit

examinations assistance, mergers and acquisitions tax planning and Sec. 382

change-in-control and 280G golden parachute studies.

Prior to joining Elliott Davis, Bev was a Tax Partner at a Northeast-based

accounting firm.



Chartered Property Casualty Underwriter

B.S., Business Administration/Accounting and Mathematics, magna

cum laude, University of Mary Washington



Pennsylvania Institute of Certified Public Accountants


1901 Main Street

Suite 900

Columbia, SC 29201

Direct: 803.255.1472

Office: 803.256.0002

Fax: 803.255.0730

[email protected]

Stacy S. Stokes, CPA Shareholder

Services: Tax | Industries: Closely-Held Businesses, Personal Financial Services


With more than 18 years’ experience, Stacy focuses on providing comprehensive

tax services to a diverse client base which includes closely-held businesses, pass-

through entities and high-net worth individuals. He has extensive experience in the

area of wealth management solutions for family owned businesses and high-net

worth individuals.



Masters of Taxation, University of South Carolina






President, Habitat for Humanity - Central South Carolina Chapter

Treasurer, Congaree Land Trust

Past Board Member, Family Connection of SC

Past President, University of South Carolina Friends of Accounting

Past Board Member, Juvenile Diabetes Research Foundation

Past Treasurer, Satchel Ford Elementary PTO

Past President, Kiwanis Young Professionals of Columbia

Documents

Investment Banking Update - Elliott Davis · Capital Partners. Prior to joining Triangle Capital Partners in 2002, Wagner was a Senior Vice President at Trident Securities. He served