Investment Summary

Castle Creek Capital and Patriot Financial Partners Invests In Heritage Commerce

On June 21, 2010, asset manager Castle Creek Capital LLC and private equity firm Patriot Financial Partners invested in financial services company Heritage Commerce Corp. for 75M USD

Investment Highlights
  • This is Castle Creek Capital’s 11th and Patriot Financial Partners’ 11th transaction in the Financial Services sector.
  • This is Castle Creek Capital’s 1st and Patriot Financial Partners’ 1st largest (disclosed) transaction.
  • This is Castle Creek Capital’s 11th and Patriot Financial Partners’ 11th transaction in the United States.
  • This is Castle Creek Capital’s 4th and Patriot Financial Partners’ 3rd transaction in California.

Investment Summary

Date 2010-06-21
Target Heritage Commerce Corp.
Sector Financial Services
Investor(s) Castle Creek Capital LLC
Patriot Financial Partners
Deal Type PIPE
Deal Value 75M USD

Target

Heritage Commerce Corp.

San Jose, California, United States
website
Heritage Commerce is a bank holding company, provides various commercial and personal banking services. Heritage Commerce was founded in 1994 and is based in San Jose, California.

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Investor(S) 2

Investor

Castle Creek Capital LLC

Rancho Santa Fe, California, United States

Investor Investor Investor Investor Investor

website


Category Asset Manager
Founded 1992
PE ASSETS 750M USD
SizeMiddle-Market
Type Sector Focused
DESCRIPTION

Castle Creek Capital is a private investment firm that makes control investments in U.S.-based community banks with less than $10 billion of assets. The firm specializes in operating, recapitalizing and strategically refocusing US based banks. Castle Creek targets smaller, healthier banks that are under-performing or lack critical mass. Castle Creek offers the resources to then implement a roll-up acquisition program. Castle Creek Capital LLC was founded in 1992 and is based in Rancho Santa Fe, California.


DEAL STATS #
Overall 11 of 21
Sector (Financial Services) 11 of 21
Type (PIPE) 6 of 10
State (California) 4 of 4
Country (United States) 11 of 21
Year (2010) 4 of 4
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-05-01 Carlile Bancshares, Inc.

Forth Worth, Texas, United States

Carlile Bancshares, Inc. is a provider of buying small to regional banks that are looking for shareholder alternatives. Carlile Bancshares, Inc. was established in 2009 and is headquartered in Forth Worth, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-01-10 First Chicago Bancorp, Inc.

Chicago, Illinois, United States

First Chicago Bancorp, Inc., a bank holding company, provides commercial banking services in the United States. Its banking services include real estate, and construction and commercial loans to individuals and small and medium-sized businesses.

Sell -
Investor

Patriot Financial Partners

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2007
PE ASSETS 500M USD
SizeMiddle-Market
Type Sector Focused
DESCRIPTION

Patriot Financial Partners is a private equity firm focused on acquiring and investing in community based banks, thrifts, and other related financial services companies throughout the US. Patriot is a hands-on investor and seeks firms with assets between $500 million and $5 billion. Patriot Financial Partners was established in 2007 and is headquartered in Philadelphia, Pennsylvania.


DEAL STATS #
Overall 11 of 22
Sector (Financial Services) 11 of 22
Type (PIPE) 8 of 14
State (California) 3 of 4
Country (United States) 11 of 22
Year (2010) 5 of 6
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-06-01 Limestone Bancorp, Inc.

Louisville, Kentucky, United States

Limestone Bank is a state charted bank holding company with $1.1 billion in total assets. Porter's sole subsidiary bank, PBI Bank, operates 19 full service branches in the greater Louisville area and in counties south of Louisville along the Interstate 65 corridor. PBI is primarily a commercial lender with the majority of its loan portfolio in commercial real estate and construction loans. Limestone Bank was founded in 1902 and is based in Louisville, Kentucky.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-09-01 Palmetto Bancshares, Inc.

Greenville, South Carolina, United States

Palmetto Bancshares, Inc. is a provider of retail and commercial banking, and wealth management services to consumers.

Buy -