Pine Brook said Monday it completed a $45 million growth equity investment in Community Trust Financial Corp., which is the parent of Community Trust Bank. Pine Brook will have 13.7% economic interest in Community Trust and 9% voting interest, according to Oliver Goldstein, a Pine Brook MD. Ruston, La.-based Community Trust is a $3 billion community trust bank with 30 banking centers spread across Northern Louisiana, the Dallas/Fort Worth area, and North-Central Mississippi.
Pine Brook, a New York-based investment firm focused on building businesses in the financial services and energy sectors, today announced it has completed a $45 million growth equity investment in Community Trust Financial Corporation (“Community Trust”), parent company of century-old Community Trust Bank.
Headquartered in Ruston, Louisiana, Community Trust is a high-performing, $3.0 billion community bank focused on commercial lending that provides a wide range of traditional banking services. It has 30 banking centers throughout Northern Louisiana, the Dallas/Fort Worth area, and North-Central Mississippi, and is led by Drake Mills, chairman, president and CEO.
“After a period of the bank’s rapid growth, Pine Brook’s expertise in the financial services sector will be a great asset in helping us continue to build our business,” said Mills. “Pine Brook has a deep understanding of community banking and lending, which will be essential in our continued development.”
“Pine Brook is excited to join with Community Trust and its team of seasoned executives, who share an exceptional reputation for achieving strong growth and profitability at a time when increasing commercial and industrial lending is critical for the U.S. economy,” said Oliver Goldstein, a managing director on Pine Brook’s financial services investment team.
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About Pine Brook
Pine Brook is a New York-based private equity firm that makes equity investments in new and growing energy and financial services businesses. Pine Brook partners with experienced entrepreneurs and talented management teams to build sustainable, profitable businesses. For more information please visit the company’s web site at www.pinebrookpartners.com.