Patriot Financial Partners has entered into an agreement to invest between $20 million and $25 million in TIB Financial (NASDAQ: TIBB). The investment is part of a $150 million capital raising effort by the Southwest Florida bank. Patriot Financial Partners is a private equity firm focused on investing in community banks, thrifts and other financial service related companies.
The Financial Services industry has been getting increased attention from the private equity industry as the credit crisis eases and the financial sector's outlook begins to brighten again. So far in 2010, there have been 41 completed or announced investments in the industry, totaling over $3 billion, according to the PitchBook Platform. This is well above 2009 investment levels when there were only 30 completed in the entire second half of the year. The most popular sectors of the industry in 2010 have been Asset Management with 6 deals, Regional Banks with 5 deals and Specialized Finance with 4 deals. Lightyear Capital, Stone Point Capital and J.C. Flowers have been some of the most active investors in the industry this year.