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Palladium Equity Partners Makes Investment in Mission Community Bank
New York, NY (March, 2008) — Palladium Equity Partners, LLC (“Palladium”), a New York-based private equity firm, announced that it has made an investment in Mission Community Bancorp, the parent of Mission Community Bank (“Mission” or the “Bank”), a full service community bank headquartered in San Luis Obispo on California’s central coast.
Founded in 1997, Mission offers a full suite of loan and deposit products, including banking services targeted toward the region’s rapidly growing Hispanic community. With over $170 million in assets, Mission currently operates three full service branches and one business banking center in San Luis Obispo, Paso Robles and Arroyo Grande. Palladium’s investment is part of a larger capital raise, which will allow the Bank to expand its footprint into the adjacent market of northern Santa Barbara County and expand banking services targeting the Hispanic community.
“We are very excited to be supporting Mission’s highly regarded management team, which not only boasts impressive experience in community banking, but also an extensive understanding of the market,” said David Perez, Managing Director of Palladium. “We feel that Mission is extremely well-positioned to capitalize on growth opportunities, and its commitment to the fast-growing Hispanic business community fits perfectly with Palladium’s investment focus.”
Mission is led by CEO Anita Robinson and President Brooks Wise. Ms. Robinson’s career in the banking industry spans over 34 years; she currently serves as Chairwoman of the California Banking Association, making history with that group as the first woman and the first Hispanic to serve as Chair. Mr. Wise joined the team in June 2007 and has a retail banking career of over 24 years, including 11 years at Union Bank of California where, as regional vice president, he oversaw operations in Los Angeles, San Luis Obispo and Ventura Counties. Ms. Robinson and Mr. Wise are both actively involved in the local communities.
Ms. Robinson said, “We are thrilled to welcome Palladium to the Mission family. As a leader in the Hispanic market, Palladium’s capital and insights will assist us as we enhance our services aimed at our region’s rapidly growing Hispanic community.”
About Mission Community Bank
Mission Community Bank (www.MissionCommunityBank.com) is a locally owned and operated community bank with offices in Arroyo Grande, San Luis Obispo, Paso Robles and a Business Banking Center in San Luis Obispo. The bank has received several awards for its success in meeting community needs in small business lending and development banking services, has earned an outstanding rating for its Community Reinvestment Act (CRA) activities, and is an SBA Preferred Lender.
About Palladium Equity Partners
Palladium Equity Partners, LLC (www.palladiumequity.com) is an investment firm targeting companies in financial and business services, consumer/retail, food/restaurants, healthcare, manufacturing and media. Palladium has a particular focus on companies that are well-positioned to capitalize on the fast-growing U.S. Hispanic market. The principals of Palladium have invested over $2.5 billion of equity in more than 60 portfolio companies over the last two decades. Formed in 1997, Palladium currently has capital under management in excess of $1 billion.
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Contacts:
Palladium Equity Partners
David Lilly / Laura Walters
Kekst & Company
212-521-4800
Mission Community Bank
Kevin Moon / Anita Robinson
Mission Community Bank
805-782-5000