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  6. Patriot Financial Partners Invests In Sterling Bank

Investment Summary

Patriot Financial Partners Invests In Sterling Bank

On August 1, 2012, private equity firm Patriot Financial Partners invested in financial services company Sterling Bank

Investment Highlights
  • This is Patriot Financial Partners’ 15th transaction in the Financial Services sector.
  • This is Patriot Financial Partners’ 16th transaction in the United States.
  • This is Patriot Financial Partners’ 1st transaction in New York.
Investment Fate
  • Sterling Bank merged with another company in 2022.

Investment Summary
Date 2012-08-01
Target Sterling Bank
Sector Financial Services
Investor(s) Patriot Financial Partners
Deal Type PIPE

Target

Sterling Bank

Pearl River, New York, United States
Sterling Bank is a financial services firm that specializes in the delivery of service and solutions to business owners, their families, and consumers in communities within the greater New York City area through teams of dedicated and experienced relationship managers. Sterling Bank was founded in 1888 and is based in Pearl River, New York.

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Investor(S) 1

Investor

Patriot Financial Partners

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2007
PE ASSETS 1.3B USD
Size Large
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 businesses with assets between $500 million and $5 billion. Patriot Financial Partners was established in 2007 and is headquartered in Radnor, Pennsylvania.

DEAL STATS #
Overall 16 of 32
Sector: Financial Services M&A 15 of 31
Type: PIPE M&A Deals 11 of 15
State: New York M&A 1 of 1
Country: United States M&A 16 of 32
Year: 2012 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-06-01 Bank of North Carolina

High Point, North Carolina, United States

BNC Bancorp., the parent company of Bank of North Carolina, is a commercial bank with $3.7 billion in assets. BNCN provides a complete line of banking and financial services to individuals and businesses through its 48 banking offices in North and South Carolina.

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FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-12-01 Beneficial Bancorp

Philadelphia, Pennsylvania, United States

Beneficial Bancorp, Inc. ("Beneficial" or the "Company") is a mutual holding company and the wholly owned subsidiary of Beneficial Bank, a $4.43 billion Pennsylvania chartered savings bank originally founded in 1853. The Company operates 35 full-service banking offices in Chester, Delaware, Montgomery, Philadelphia, and Bucks Counties, Pennsylvania and 25 full-service banking offices in Burlington, Gloucester and Camden Counties, New Jersey. The Company is number nine in terms of deposit market share in the Philadelphia MSA and is number one among banks headquartered in the Philadelphia area.

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