SELECTED PORTFOLIO INVESTMENTS

Donnelly Penman Financial Services Fund LP invests in equity securities in both publicly traded community banks and private offerings. The following is a selection of recent direct portfolio investments:




AQUESTA FINANCIAL HOLDINGS, INC.

Aquesta Financial Holdings commenced operations in August 2006. The bank is headquartered in Cornelius, an upscale suburb of Charlotte, NC and serves the Lake Norman region through its branch network in Cornelius, Kannapolis, Mooresville, and Wilmington. Donnelly Penman Financial Services Fund, LP participated in the bank’s $24 million de novo capital raise.




GEORGIA COMMERCE BANCSHARES, INC.

Georgia Commerce Bancshares, Inc. is the holding company for Georgia Commerce Bank, headquartered in Atlanta, GA. With more than $1.0 billion in assets, Georgia Commerce has increased its scale significantly since 2011 with two FDIC-assisted transactions and most recently with its normal course acquisition of Brookhaven Bank (which DPFSF was an original investor in from its 2007 de novo capital raise).




HIGHLAND BANCSHARES

Highlands Bancshares acquired FNB Jacksboro ($150 million in assets) in late 2006 and raised $45 million of capital to support the acquisition and the bank’s expansion into the Dallas market. In 2012, Highlands (then at $507 million in assets) completed its sale to ViewPoint Financial Group, Inc. ($3 billion in assets), with Highlands CEO Kevin Hanigan assuming the role of CEO for ViewPoint.




LEVEL ONE BANCORP, INC

Opened in October 2007, Level One Bank is a full-service, commercial and consumer bank located in Farmington Hills, MI, a wealthy Detroit suburb. Since its formation, Level One Bank has successfully participated in two FDIC-assisted transactions, one in April 2009 and the other in December 2010, strategically growing the franchise to nearly $680 million of assets and 8 full-service branches, while maintaining pristine credit quality.




METROPOLITAN BANCGROUP, INC.

Metropolitan BancGroup, Inc. is the holding company for Metropolitan Bank, out of Ridgeland, MS. Metropolitan has 7 branches, with a focus on the Memphis, TN market, but also spanning south into Jackson, MS and east into Nashville, TN, and has more than $890 million in assets.




PREMARA FINANCIAL INC.

Premara Financial Inc. (OTCQB: PARA) is the bank holding company for Carolina Premier Bank, the only locally-based community bank in South Charlotte, NC with branches in Charlotte, Blacksburg, SC, Rock Hill, SC. Premara also recently opened a branch on Pennsylvania Ave. in Washington, DC.




SOUTHWEST BANCORP, INC.

Southwest is the bank holding company for Stillwater National Bank and Trust Company and Bank of Kansas. Through its subsidiaries, commercial and consumer lending, deposit and investment services, specialized cash management, and other financial services are offered from offices in Oklahoma, Texas, and Kansas. Southwest has more than $1.9 billion in assets and a market capitalization exceeding $325 million.




TRUST ATLANTIC FINANCIAL CORP.

TrustAtlantic Financial Corp. is the holding company for TrustAtlantic Bank, headquartered in Raleigh, NC. TrustAtlantic Bank has more than $450 million in assets and 5 full-service branches in the Raleigh and Greenville markets. On October 22, 2014, First Horizon National Corp. (holding company of First Tennessee Bank NA), announced that it had agreed to acquire TrustAtlantic Bank for approximately $80 million in total consideration, or approximately 1.65x tangible book value. DPFSF was an original investor in TrustAtltantic’s de novo capital raise in 2007.




WATERFORD BANCORP, INC.

Waterford Bancorp, Inc. is the holding company for Waterford Bank, N.A., headquartered in Toledo, OH. Waterford Bank has more than $480 million in assets with 2 branches. Waterford Bank is a commercial-focused community bank. DPFSF originally invested in the de novo capital raise in 2007 and participated in a follow-on offering in 2009.


The information on this website does not constitute an offer to sell or a solicitation of an offer to buy interests in the Fund. Partnership interests in the Fund are only being offered privately to accredited investors by means of the Fund's Private Placement Memorandum, and only to residents of those states in which the Fund has filed or will file a notice of sale.