Vi Bean, SinglePoint Acquisitions Group and Ryan Hammock, Pinnacle Bank (ProfitSense with Bill McDermott, Episode 32)
On this edition of ProfitSense with Bill McDermott, Bill was joined by Vi Bean, CEO of SinglePoint Acquisitions Group, and Ryan Hammock, VP at Pinnacle Bank. Vi talked about SinglePoint’s mission and his experience in fielding offers to buy his business. He and Bill talked about the issues involved such as reconciling the perceived value of the company with both seller and the buyer, selling to insiders, and operating in a niche market. Ryan Hammock talked with Bill about how Pinnacle Bank serves the middle market, his work helping businesses owners sell their companies, the considerations in funding a business acquisition, the importance of a business owner’s “why,” and much more.
SinglePoint Acquisitions Group
Vi Bean, Founder and CEO, SinglePoint Acquisitions Group
Louis V (Vi) Bean, III is the Founder and CEO of SinglePoint Acquisitions Group. He has over 36 years of experience in the Right of Way profession. He is an International Right of Way Association Member (since 1985). He was the President of the IRWA Georgia Chapter 22 in 2000 and earned the title Professional of the Year for the Chapter in 2000, 2010, and 2011.
In 2007, he started SinglePoint Acquisitions Group to provide right of way and land acquisitions to utility companies in the southeast United States and now has over 50 employees. In 2019, SinglePoint Acquisitions started a survey group to complement the acquisition services.
He currently holds Real Estate Brokerage licenses in Georgia and Florida.
Chartered in 1934, Pinnacle Bank has 24 locations in more than 15 counties of Northeast Georgia. Pinnacle is a locally owned, independent community bank and offers a wide range of financial services.
Headquartered in Elberton, GA, they believe our consumer and business banking services and experts can inform and inspire their customers, leading to personal and business growth and wealth.
One of the ways a community bank can help people is to give them more security in financial planning and navigating economic headwinds like inflation. Financial planning is vital for anyone, no matter the stage of life. We all need to take into consideration financial goals and budgeting. And depending on where someone is in life, they should consider insurance, estate planning, college planning, retirement planning and business planning. These decisions are something Pinnacle Bank is happy to help with. Whether an overview or a detailed conversation with one of our experts, that’s what makes their day.
Ryan Hammock is a native of Chestnut Mountain (Hall County), Georgia, and has lived in the Clarke & Oconee County area for the past 14 years. Growing up on a 4th Generation farm, Ryan graduated from Johnson High School in Oakwood Georgia before completing his B.B.A. in Marketing from The University of North Georgia in Dahlonega Georgia followed by his MBA from The Terry College of Business at The University of Georgia.
Before joining Pinnacle Bank in 2019, Ryan spent nearly 16 years with Wachovia Bank/Wells Fargo Bank. From 2015 to 2019 he led the Wells Fargo Commercial Banking Teams for Northeast Georgia and for Middle & South Georgia.
About ProfitSense and Your Host, Bill McDermott
ProfitSense with Bill McDermott dives into the stories behind some of Atlanta’s successful businesses and business owners and the professionals that advise them. This show helps local business leaders get the word out about the important work they’re doing to serve their market, their community, and their profession. The show is presented by McDermott Financial Solutions. McDermott Financial helps business owners improve cash flow and profitability, find financing, break through barriers to expansion, and financially prepare to exit their business. The show archive can be found at profitsenseradio.com.
Bill McDermott is the Founder and CEO of McDermott Financial Solutions. When business owners want to increase their profitability, they don’t have the expertise to know where to start or what to do. Bill leverages his knowledge and relationships from 32 years as a banker to identify the hurdles getting in the way and create a plan to deliver profitability they never thought possible.
Bill currently serves as Treasurer for the Atlanta Executive Forum and has held previous positions as a board member for the Kennesaw State University Entrepreneurship Center and Gwinnett Habitat for Humanity and Treasurer for CEO NetWeavers. Bill is a graduate of Wake Forest University and he and his wife, Martha have called Atlanta home for over 40 years. Outside of work, Bill enjoys golf, traveling, and gardening.