Phil Buffington joined Adams and Reese in 2011 and serves as Leader of the Financial Services Team, and is a Partner in the Transactions Practice Group. For more than 30 years, Phil has served as a trusted advisor to community, regional and national financial institutions, and he routinely helps these institutions assess and analyze regulatory and litigation risks, including issues involving:
-Corporate governance, including succession planning, proxy materials and compensation issues
-Mergers, acquisitions, branching and divestitures
-De Novo formations and Charter conversions
-Bank holding company formations and expansion
-Notices of Change in Control and Change in Director or Senior Officer
-Strategic Planning and Capital Planning
-Response to Examinations and Enforcement Actions
-Federal and State Banking Laws and Regulations
-Risk assessment, management and mitigation
-Secured Commercial lending transactions, including syndicated lending
Phil also has substantial experience in the following:
-Advising boards of directors of financial institutions with regard to their duties and responsibilities, including drafting, adopting and implementing policies and procedures for compliance purposes.
-Advice and counsel on financial institution litigation involving director and officer actions; lending related litigation (including lender liability); check kiting; embezzlement; conversion; commercial collection; wrongful foreclosure and repossession; Equal Credit Opportunity Act claims; Fair Debt Collection Practices Act claims; Fair Credit Reporting Act claims; and guaranty litigation.
He teaches and conducts seminars for numerous organizations related to topics of interest in the financial institution industry, including the Mississippi Banker Association, Mississippi Bankers Association School of Banking, Florida Bankers Association, South Carolina Bankers Association, Louisiana State University Graduate Banking School of the South, Mississippi Home Corporation, Mississippi Center for Nonprofit Corporation and in house seminars for clients.
In the legal arena, Phil is a member of various sections within the American Bar Association, including the Banking Law Committee. He is also a member of the Business Law Section of the Mississippi Bar Association.
Phil is an adjunct professor at Mississippi College School of Law (Banking Law and Business Planning), and is a faculty member for the Mississippi Bankers Association School of Banking (Commercial Loan Documentation I and II). He earned his J.D. from Mississippi College School of Law in 1984 and attained a double major in banking and finance/insurance at University of Mississippi, earning a B.B.A. in 1981.
In the community, Phil currently serves as the Chairman of the Madison County Business League & Foundation and also serves on the Board of Governors of the Mississippi Economic Council. In addition, Phil serves on the University of Mississippi Banking and Finance Board. Phil is involved with St. Andrews Episcopal Cathedral, having served in various positions and on numerous committees and has also served on various nonprofit boards, including Habitat for Humanity/Metro Jackson, Inc.
In his spare time, Phil enjoys spending time with his family, fishing, working in the community including serving as a volunteer for a nonprofit youth soccer organization of which he is a Past President, and being involved in politics.