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Patriot Financial has money to invest, but before community bank executives pick up the phone to request a meeting they should know what the private-equity firm wants and doesn't want.
October 5
The former chief executive of a Pennsylvania bank is taking his skills to private equity.
Patriot Financial Partners in Philadelphia announced this month that it has named James F. Deutsch as a managing director. Deutsch previously led Team Capital Bank in Lehigh Valley.
Under Deutsch's leadership, the 2005 de novo grew to assets of $750 million. Deutsch resigned from the bank in April 2011, according to a press release from Team Capital at the time.
"As a former bank CEO with deep experience in almost all facets of banking, Jim Deutsch brings exceptionally strong operational expertise and best practices knowledge to our team," W. Kirk Wycoff, a co-founder and managing director of Patriot, said in a press release.
Alongside Deutsch's hiring, the company also named Stephanie Langer as a managing director. She was previously with Quaker Partners Management, where she also served as managing director and head of investor relations.
Patriot is a $300 million fund that is approximately two-thirds invested. It has stakes in more than a dozen banks and tends to focus on those with assets of $500 million to $5 billion.
