Last year, almost exactly one year ago this week, Funeral Director Daily published this article announcing that Park Lawn Corporation had the regulatory approvals to sell the company to Veridian Holdings L.P. which was a business made up through a partnership of Homesteaders Life and Birch Hill Equity Partners.

Recently, Birch Hill Equity Partners as announced in this article from Yahoo Finance, partnered with Brookfied Asset Management to take Canadian mortgage firm First National Financial private in a structure that appears to be very similar to the Park Lawn transaction.

Again, much like the Park Lawn transaction, the acquired firm took a position that the transaction was good for the shareholders as they are quoted as commenting, “First National Financial says the deal came after a strategic review and that it offers compelling value and liquidity to shareholders”.

You can access the Park Lawn Corporation website here.  As a private company we no longer have access to their financial documents to learn how they may be doing from that perspective but press releases since the sale date have indicated that Park Lawn has added facilities through acquisition in North Carolina, Texas, Illinois, and Colorado.  You can access Park Lawn Corporation press releases here.

Related — Here is the website for Birch Hill Equity Partners

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“A servant’s attitude guided by Christ leads to a significant life”

When I was operating my funeral home most of my energy went to taking care of the families I was serving, taking care of the staff I was leading, and taking care of the budget I was trying to meet.  Doing all of that didn’t always leave enough time to thoroughly look after the adminsitrative and regulatory burdens that needed attention from time to time.

As an owner of a funeral home and/or cemetery you have a fiduciary responsibility to those who deposit preneed funeral money, preneed cemetery merchandise money, and/or cemetery perpetual care money into your care.  You must acknowledge that responsibility and stay on top of the regulations, guidelines, and investment returns so that those funds deliver what they were intended for over time.

Sometimes that is difficult for funeral home or cemetery owners and/or directors to do simply because we are not schooled or trained in that environment. Most of those funeral home or cemetery operators also don’t have the extra time to pay detailed attention to all of those necessary issues. . . . .And, even if they do, most don’t have the expertise that is needed to operate those trust services in a fully competent and regulatory manner.

That’s where Regions Bank may come to help your business.  Regions Bank, as you can see from this explanation and video of their “Funeral Home and Cemetery Trust Services”, is one of the very few full-service financial institutions in the country to have a dedicated division serving the needs of funeral homes and cemeteries.

According to their website, Regions Bank operates in 37 states of the United States and is a national leader for “Funeral and Cemetery Trust Services”.  They operate in the following fields:

• Preneed Trusts
• Cemetery Merchandise Trusts
• Perpetual Care Trusts
• Pre-Construction Trusts

And, while you are busy operating your business on a day-to-day situation, Regions Bank will watch over your trust’s investment, legal, and administration situations.  From my perspective it may be the best way to make sure that your funeral home, cemetery, cemetery association, or other Death Care operation stays up to date with the fiduciary and regulatory responsibilities that is owed future clients.

Fow more information and who to contact at Regions Bank you can click here.

More news from the world of Death Care:

Funeral director discusses rising costs.  The New Zealand Herald (New Zealand)

“We count on people who care about the cemetery”.  The Sentinal (MN)

North Kingstown family helping to redifine funeral care for south county residents.  The Independent (RI)

Death Care sector faces dynamic shifts with new innovations.  Cointurk Finance

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“A servant’s attitude guided by Christ leads to a significant life”

Live Oak Bank: A Trusted Partner for Funeral Homes

Live Oak Bank is not just a lender; it’s a partner that truly understands the unique needs of funeral homes, offering more than just financial support.

Tailored Financial Solutions

Live Oak is committed to providing the right amount of support without overwhelming its clients. Tim Bridgers, head of Funeral Home Lending at Live Oak, highlights their careful approach: “We’re not trying to hurt the seller and we’re not trying to hurt the buyer… if we fund this loan right and it’s too much leverage for the business based on the cash flow, then we’re really setting that business owner up for failure in the future.” This philosophy ensures that funeral homes receive financial assistance tailored to their specific needs and capacities.

Beyond Loans: Comprehensive Support

Live Oak offers a wide range of services to help funeral homes manage their finances efficiently and plan for future growth. From operating accounts to high-yield savings options, Live Oak aims to be a one-stop financial partner. This approach helps funeral homes maintain financial health and prepare for long-term success.

A Partnership Based on Understanding and Trust

Choosing Live Oak means partnering with a bank that has a deep understanding of the funeral service sector. “It’s important for a funeral home owner to have a banking relationship with a bank that understands their business,” Tim explains. This insight allows Live Oak to offer personalized advice and solutions, ensuring that funeral homes have the tools they need to thrive.

Commitment to Transparency

Live Oak’s approach is grounded in transparency and a dedication to the success of its clients. Tim Bridgers emphasizes the bank’s ethos: “Our level of transparency comes from… the non-commission based environment that we have here.” This non-commission-based model ensures that all advice and services provided by Live Oak are in the best interest of the funeral home, fostering a relationship built on trust and mutual success.

Conclusion

Live Oak Bank stands out as more than just a lender; it is a dedicated partner to funeral homes. With a focus on tailored financial solutions, comprehensive support, and a commitment to understanding and transparency, Live Oak Bank helps funeral homes navigate their financial journey and achieve their long-term goals.