Castle Creek Capital Mergers and Acquisitions Summary

Asset Manager Profile

In the last 3 years, Castle Creek Capital has invested in 2 companies.

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 (44%) and stake purchase (22%). 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 (47%). 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 Activity38
    • M&A Buy Activity23
    • M&A Sell Activity15
  • Total Sectors Invested 2
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 17

Castle Creek Capital LLC

11682 El Camino Real Suite 320,
San Diego, California 92130
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 ≤ '19 '20 '21 '22 '23 '24 T
Buy (0.4/yr) # 21 - 1 1 - - 23
vol $75M $75M
Sell (0.2/yr) # 14 - 1 - - - 15
vol $2.4B $152M $2.6B
  38

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 Trade Sale
Springfield, Missouri · www.gbankmo.com
FirstSun Capital Bancorp 2021-05-11 - Stake Purchase
Denver, Colorado · www.sunflowerbank.com
MBT Financial Corp. 2018-10-10 291M USD Stake Sale
Monroe, Michigan · www.mbandt.com
Origin Bancorp, Inc. 2018-05-08 - IPO
Ruston, Louisiana · www.origin.bank
WashingtonFirst Bankshares, Inc. 2017-11-22 - Trade Sale
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 Trade Sale
Paso Robles, California · www.heritageoaksbancorp.com
Carlile Bancshares, Inc. 2016-11-21 434M USD Trade Sale
Forth Worth, Texas · www.carlilebancshares.com
Square 1 Financial, Inc. 2015-10-07 815M USD Trade Sale
Durham, North Carolina · www.square1financial.com
View All >>

M&A by Sector

Sector Current # Value All-time # Value
Financial Services 6 (86%) 75M (100%) 22 (96%) 75M (100%)
Information Technology 1 (14%) - 1 (4%) -
Total 7 $75M 23 $75M

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 7 (100%) 75M (100%) 23 (100%) 75M (100%)
  California 1 (14%) 75M (100%) 4 (17%) 75M (100%)
  Virginia 1 (14%) - 3 (13%) -
  Colorado 1 (14%) - 2 (9%) -
  Louisiana - - 2 (9%) -
  West Virginia 1 (14%) - 1 (4%) -
  South Dakota 1 (14%) - 1 (4%) -
  Minnesota 1 (14%) - 1 (4%) -
  Indiana 1 (14%) - 1 (4%) -
  Texas - - 1 (4%) -
  Pennsylvania - - 1 (4%) -
  Oregon - - 1 (4%) -
  North Carolina - - 1 (4%) -
  New York - - 1 (4%) -
  Michigan - - 1 (4%) -
  Illinois - - 1 (4%) -
  Idaho - - 1 (4%) -
Total 7 $75M 23 $75M

Acquisitions by Deal Type

Type Current # Value All-time # Value
PIPE 4 (57%) 75M (100%) 10 (43%) 75M (100%)
Stake Purchase 1 (14%) - 5 (22%) -
Buyout (LBO, MBO, MBI) - - 3 (13%) -
Growth Capital 2 (29%) - 3 (13%) -
Going Private - - 1 (4%) -
Venture - - 1 (4%) -
Total 7 $75M 23 $75M

Exits by Deal Type

Type Total # Value
Trade Sale - Public Company 7 (47%) 1.9B (75%)
Merger 5 (33%) 344M (13%)
IPO 2 (13%) -
Stake Sale 1 (7%) 291M (11%)
Total 15 $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)
80%
12 (80%)

FAQ

When was Castle Creek Capital LLC founded?

Castle Creek Capital LLC was founded in 1992.

What type of investor is Castle Creek Capital LLC?

Castle Creek Capital LLC is an asset manager.

Where is Castle Creek Capital LLC headquartered?

Castle Creek Capital LLC is headquartered in San Diego, California.

How much capital does Castle Creek Capital LLC have under management?

Castle Creek Capital LLC has 750M USD under management.

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