ATLANTA, Feb. 21, 2023 (GLOBE NEWSWIRE) -- The Piedmont Bank announced today the completion of the purchase of a minority interest in Walton Funding LLC, a specialized lending and mortgage company based in Inlet Beach, Florida.
“The process of reaching approvals for the investment has only solidified our excitement for the synergy each financial institution has with the other,” said Monty Watson, Chairman and CEO, The Piedmont Bank.
“Simply put, we’re able to enhance our business and focus more attention on expansion efforts in the Mid-Atlantic and Southeast. The alignment with Piedmont Bank is proving to be as strong as we expected,” said J. Kavanaugh Tucker, Managing Director, Walton Funding.
The deal creates a strategic partnership for opening access to new markets and customers for Piedmont Bank, especially along Florida’s Emerald Coast, and enhances the lending solutions that Walton Funding can offer its customers.
Alston & Bird LLP served as the legal advisor to The Piedmont Bank. The Burke Group, LLC served as the financial advisor to Walton Funding and Butler Snow LLP served as its legal advisor.
The Piedmont Bank
Piedmont Bancorp, Inc. is a $1.8 billion asset bank holding company headquartered in Peachtree Corners, Ga. Through its subsidiary, The Piedmont Bank, the company operates 14 offices in the Atlanta area and North Georgia dedicated to exceptional service and innovative products for both business and personal banking. Piedmont Bank is proud to have Mountain Valley Community Bank and Westside Bank as part of their community bank family. For more information, visit www.piedmont.bank.
Walton Funding
Walton Funding was formed with the intent of bringing its borrowers the most favorable lending in terms available in the market. They specialize in finding solutions that don’t meet standard agency criteria.
Their qualified borrowers have transparent access to wholesale rates, giving them some of the best rates available in the industry. Walton Funding can also bring multiple funding sources to their borrowers, allowing it to build programs and find solutions that are not available at traditional banks. They are able to assist clients purchasing homes throughout Florida, Alabama, Georgia, Tennessee with pending lender licensing applications in North and South Carolina.
Media Contact
Piedmont Bank
Tony Carter
tony@thewithagency.com
404.316.0201
