Castle Creek Capital Mergers and Acquisitions Summary

Asset Manager Profile

In the last 3 years, Castle Creek Capital has invested in 1 company.

Castle Creek Capital’s most common sectors for investment arefinancial services (96%) and information technology (5%) . The Firm’s most common investment types include pipe (46%) and stake purchase (19%). In total, Castle Creek Capital has invested in 16 US states. Its largest (disclosed) acquisition occurred in 2010 when it acquired Heritage Commerce for $75M.

In the last 3 years, Castle Creek Capital has exited 1 company. The Firm’s most common exit type is trade sale (50%). Castle Creek Capital’s largest (disclosed) exit occurred in 2015 when it sold Square 1 Financial for $815M.

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M&A Summary

  • M&A Total Activity36
    • M&A Buy Activity22
    • M&A Sell Activity14
  • Total Sectors Invested 2
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 19

Castle Creek Capital LLC

6051 El Tordo,
Rancho Santa Fe, California 92067
United States
(858) 756-8300
www.castlecreek.com
accountinfo@castlecreek.com

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.


Investment Criteria

Sectors of Interest: Financial Services

Target Transaction Types: Buyout (LBO, MBO, MBI), Growth Capital, Recapitalization, PIPE, Stake Purchase

Geographic Preferences: East US, Midwest US, South US, West US

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size - -
Enterprise Value - 10
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '17 '18 '19 '20 '21 '22 T
Buy (0.2/yr) # 21 - - - - 1 22
vol $75M $75M
Sell (0.4/yr) # 12 1 - - 1 - 14
vol $2.1B $291M $152M $2.6B
  36

Most Recent M&A

Company Date Value Type
Central Payments LLC 2022-08-11 - Growth Capital
Dell Rapids, South Dakota · www.central-payments.com
Guaranty Federal Bancshares, Inc. 2021-11-09 152M USD Add-on Acquisition
Springfield, Missouri · www.gbankmo.com
MBT Financial Corp. 2018-10-10 291M USD Add-on Acquisition
Monroe, Michigan · www.mbandt.com
WashingtonFirst Bankshares, Inc. 2017-11-22 - Add-on Acquisition
Reston, Virginia · www.wfbi.com
Eastern Virginia Bankshares, Inc. 2017-07-23 - Merger
Tappahannock, Virginia · www.evb.org
Heritage Oaks Bancorp. 2016-12-13 406M USD Add-on Acquisition
Paso Robles, California · www.heritageoaksbancorp.com
Carlile Bancshares, Inc. 2016-11-21 434M USD Add-on Acquisition
Forth Worth, Texas · www.carlilebancshares.com
Square 1 Financial, Inc. 2015-10-07 815M USD Add-on Acquisition
Durham, North Carolina · www.square1financial.com
Bridgewater Bancshares, Inc. 2015-09-08 - Growth Capital
Saint Louis Park, Minnesota · www.bridgewaterbankmn.com
Continental Bank Holdings, Inc. 2015-01-02 125M USD Add-on Acquisition
Plymouth Meeting, Pennsylvania · www.thecontinentalbank.com
View All >>

M&A by Sector

Sector Current # Value All-time # Value
Financial Services 6 (86%) 75M (100%) 21 (95%) 75M (100%)
Information Technology 1 (14%) - 1 (5%) -
Total 7 $75M 22 $75M

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 7 (100%) 75M (100%) 22 (100%) 75M (100%)
  California 1 (14%) 75M (100%) 4 (18%) 75M (100%)
  Virginia 1 (14%) - 3 (14%) -
  Louisiana 1 (14%) - 2 (9%) -
  West Virginia 1 (14%) - 1 (5%) -
  South Dakota 1 (14%) - 1 (5%) -
  Minnesota 1 (14%) - 1 (5%) -
  Indiana 1 (14%) - 1 (5%) -
  Texas - - 1 (5%) -
  Pennsylvania - - 1 (5%) -
  Oregon - - 1 (5%) -
  North Carolina - - 1 (5%) -
  New York - - 1 (5%) -
  Michigan - - 1 (5%) -
  Illinois - - 1 (5%) -
  Idaho - - 1 (5%) -
  Colorado - - 1 (5%) -
Total 7 $75M 22 $75M

Acquisitions by Deal Type

Type Current # Value All-time # Value
PIPE 4 (57%) 75M (100%) 10 (45%) 75M (100%)
Stake Purchase - - 4 (18%) -
Buyout (LBO, MBO, MBI) - - 3 (14%) -
Growth Capital 3 (43%) - 3 (14%) -
Going Private - - 1 (5%) -
Venture - - 1 (5%) -
Total 7 $75M 22 $75M

Exits by Deal Type

Type Total # Value
Trade Sale - Public Company 7 (50%) 1.9B (75%)
Merger 5 (36%) 344M (13%)
Stake Sale 1 (7%) 291M (11%)
IPO 1 (7%) -
Total 14 $2.6B

Deal Values

buy # Total
< $100M 1 $75M
TOTAL $75M
Largest Heritage Commerce Corp.
$75M (2010-06-21)
sell # Total
$100M to $1B 8 $2.6B
TOTAL $2.6B
Largest Square 1 Financial, Inc.
$815M (2015-10-07)

M&A Connections

Deals
Exited to
Strategic(s)
86%
12 (86%)

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