Clanton native leaves $5.3 million for UA

Published 2:23 pm Tuesday, September 27, 2016

From Staff Reports

John Bealie Deramus, a Clanton native, left a $5.3 million bequest to the University of Alabama.

Deramus grew up in Clanton and graduated from Chilton County High School. He worked in various finance firms and banks in Atlanta, Georgia as well as Birmingham and Montgomery before retiring to his family home in Clanton, where he passed away on Feb. 6, 2015.

He attended the University of Alabama, where he was a member of Sigma Alpha Epsilon fraternity and graduated in 1956 with a Bachelor of Science from the College of Commerce and Business Administration.


John Deramus (Contributed)

According to a UA press release, Deramus told the university ahead of time that he would be giving them a portion of his estate. He planned to leave the $5.3 million to create the John B. Deramus Fund, which will provide support for the most important needs of the university, including scholarships.

The gift is significant to the university not just because of the amount, but because Deramus gave the university discretion about spending it.

Bob Pierce, UA’s vice president for advancement, said the gift would have a maximized impact because Deramus trusted the university to spend the funds how it sees fit.

The university estimates that approximately $265,000 will be available each year for use by UA, according to its press release.

“It will be wonderful to see Mr. Deramus’ generosity used for the benefit of the university, including scholarships for future generations of students,” said Pierce.

Even after his time, Clanton native Deramus will be furthering education and advancement and representing the city well.