Release Date: October 11, 2011
Dallas, Texas — glendonTodd Capital LLC, a private equity firm that focuses on investments in a broad range of industry sectors including financial services, business services, and technology announces the investment into F&M Bancorporation Inc.
F&M Bancorporation Inc., the parent company of The F&M Bank & Trust Company, raised a total of $78 million in new capital to support execution of the bank’s business strategy in Oklahoma and Texas.
The company decided to increase its capital base to support its middle market and retail banking capabilities as part of its existing business plan, which included strengthening management and lending teams, streamlining its processes and investing in scalable infrastructure. Since January 2010, when the company implemented its growth plan, the company has experienced a compounded annual growth rate of approximately 20% in loans and 11% in deposits.
Anthony B Davis, Chairman of the Board and Chief Executive Officer said, “We are very pleased that we were able to proactively raise capital to support our growth strategy in Texas and Oklahoma. We are already seeing the results of our investment in the people and infrastructure that will allow us to continue to provide exceptional, personal service to our growing base of commercial and retail customers throughout our geographic footprint.”
The $78 million in capital raised included a $40 million private placement of common stock and $38 million of preferred stock from the United States Department of the Treasury under the Small Business Lending Fund (“SBLF”). The SBLF is a voluntary program intended to spur the U.S. economy by providing capital to support small business lending to qualified regional banks at favorable rates. None of the proceeds were used by F&M to repay TARP funding, nor was F&M a participant in the TARP Program.
glendonTodd Capital LLC is now the fourth largest shareholder in F&M Bancorporation Inc.
Todd Furniss, Managing Partner of glendonTodd Capital remarks, “We are very excited about the relationship with F&M. We think very highly of Tony Davis, Jeff Pickryl, Eric Davis, and the entire management team, and view the opportunity related to their expansion into Texas as being both timely and one which we look forward to helping them execute”.
About F&M Bancorporation Inc.: F&M Bancorporation Inc. is a bank holding company headquartered in Tulsa, Oklahoma with total assets at June 30, 2011 of approximately $1.7 billion. Its principal activity is the ownership and operation of The F&M Bank & Trust Company, a state-chartered regional bank with commercial, retail and mortgage banking operations out of nine branches in Tulsa and two locations in Dallas. For more information please visit our websites at www.FMBankTulsa.com and www.FMBankTexas.com.
About glendonTodd Capital LLC: glendonTodd Capital is a private equity firm focused on companies in the business services sector. The firm has a global orientation, strong operational background and holds firm the belief that investments led by people who have experience in the industries in which they are investing makes a material difference in the quality of the investment outcome. For more information, please visit www.glendontodd.com.
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