Advantage Capital Invests in Washington, D.C. Bank

NuAmerica Bank (Proposed), will focus on commercial lending primarily to

small and medium-sized businesses owned by Hispanics and other minority

groups



Mar 19, 2007, 01:00 ET from Advantage Capital Partners

    WASHINGTON, March 19 /PRNewswire/ -- Advantage Capital Partners, a
 leading investor in the Washington, D.C., Certified Capital Companies
 (CAPCO) program, has invested $500,000 in NuAmerica Bank, a proposed
 community bank that seeks to provide banking services to small businesses
 and professionals in the Washington, D.C. metropolitan area. Advantage
 Capital is the first institution to invest in NuAmerica's initial
 fundraising round, which aims to secure $20 million in capital this year.
     "NuAmerica is building a unique position in the commercial lending
 market and has assembled an experienced management team with strong ties to
 local businesses, government agencies and community organizations," said
 Doug Beekman, senior vice president at Advantage Capital. "These
 connections, along with a strong relationship-based marketing model, will
 help establish NuAmerica as the bank of choice for small and medium-sized
 minority-owned businesses in the metropolitan area."
     NuAmerica Bank will target its services to small and medium-sized
 business customers, with an emphasis on those owned by Hispanics and other
 minority groups. Scheduled to open in the second quarter of 2007, the
 bank's headquarters and first branch will be located in Columbia Heights,
 which is in the heart of one of the District's fastest growing
 neighborhoods where small, minority-owned business are highly represented.
 The second branch will be located in the Silver Spring area in Maryland,
 which is the center of small business activity in Montgomery County and the
 natural hub for other satellite communities in Montgomery, Prince George
 and Frederick counties.
     NuAmerica Bank has developed a diversified group of organizers in terms
 of ethnicity, profession and community connections. Led by newly appointed
 proposed President and CEO, George Assaf, NuAmerica Bank's day-to-day
 operations will be managed by experienced financial-industry professionals
 with an emphasis on risk management, customer service and a commitment to
 building sustainable wealth for the bank's clients, shareholders and
 employees. Prior to joining NuAmerica, Assaf held the position of business
 banking sales manager with PNC Bank. He has worked for several leading
 banks in the Washington, D.C., area and has more than 20 years of
 experience in commercial lending, sales management, strategic planning,
 compliance and financial analysis.
     "Funding from Advantage Capital will support the opening of our
 Columbia Heights location, as well as contribute to our initial operating
 expenses as we work to establish ourselves within the local community,"
 said Julio Lopez-Brito, NuAmerica Bank founder and proposed chairman.
 "Under George's leadership, NuAmerica will differentiate itself from the
 larger chain banks by offering individualized services tailored to the
 needs of our target customers."
     Advantage Capital's investment in NuAmerica Bank was made possible
 through the Washington, D.C., CAPCO program, a local economic development
 initiative designed to stimulate the flow of financial capital to early
 stage businesses, creating high paying jobs and increasing tax revenues
 across the District. Based on structured tax credits, the $50 million
 program combines private sector expertise in identifying, evaluating and
 financing businesses with the public sector's interest in building a
 stronger local economy.
     NuAmerica Bank is just one of the many growing Washington, D.C.,
 companies in which Advantage Capital has invested in. Recent investments
 include CreateHope Inc., a developer of online-based corporate giving
 programs, Gridpoint, a developer of intelligent energy management (IEM)
 products, and ARC Solutions, a developer of web-based tools for membership
 organizations.
     About Advantage Capital Partners
     Advantage Capital Partners (http://www.advantagecap.com) is a private
 equity firm focused on investing in promising companies in connection with
 federal, state and local economic development efforts. With offices and
 partners in Washington D.C., New Orleans, St. Louis and other cities,
 Advantage has raised more than $750 million in institutional venture
 capital since 1992 and invested in companies across a wide range of
 industries.
 
 

SOURCE Advantage Capital Partners
    WASHINGTON, March 19 /PRNewswire/ -- Advantage Capital Partners, a
 leading investor in the Washington, D.C., Certified Capital Companies
 (CAPCO) program, has invested $500,000 in NuAmerica Bank, a proposed
 community bank that seeks to provide banking services to small businesses
 and professionals in the Washington, D.C. metropolitan area. Advantage
 Capital is the first institution to invest in NuAmerica's initial
 fundraising round, which aims to secure $20 million in capital this year.
     "NuAmerica is building a unique position in the commercial lending
 market and has assembled an experienced management team with strong ties to
 local businesses, government agencies and community organizations," said
 Doug Beekman, senior vice president at Advantage Capital. "These
 connections, along with a strong relationship-based marketing model, will
 help establish NuAmerica as the bank of choice for small and medium-sized
 minority-owned businesses in the metropolitan area."
     NuAmerica Bank will target its services to small and medium-sized
 business customers, with an emphasis on those owned by Hispanics and other
 minority groups. Scheduled to open in the second quarter of 2007, the
 bank's headquarters and first branch will be located in Columbia Heights,
 which is in the heart of one of the District's fastest growing
 neighborhoods where small, minority-owned business are highly represented.
 The second branch will be located in the Silver Spring area in Maryland,
 which is the center of small business activity in Montgomery County and the
 natural hub for other satellite communities in Montgomery, Prince George
 and Frederick counties.
     NuAmerica Bank has developed a diversified group of organizers in terms
 of ethnicity, profession and community connections. Led by newly appointed
 proposed President and CEO, George Assaf, NuAmerica Bank's day-to-day
 operations will be managed by experienced financial-industry professionals
 with an emphasis on risk management, customer service and a commitment to
 building sustainable wealth for the bank's clients, shareholders and
 employees. Prior to joining NuAmerica, Assaf held the position of business
 banking sales manager with PNC Bank. He has worked for several leading
 banks in the Washington, D.C., area and has more than 20 years of
 experience in commercial lending, sales management, strategic planning,
 compliance and financial analysis.
     "Funding from Advantage Capital will support the opening of our
 Columbia Heights location, as well as contribute to our initial operating
 expenses as we work to establish ourselves within the local community,"
 said Julio Lopez-Brito, NuAmerica Bank founder and proposed chairman.
 "Under George's leadership, NuAmerica will differentiate itself from the
 larger chain banks by offering individualized services tailored to the
 needs of our target customers."
     Advantage Capital's investment in NuAmerica Bank was made possible
 through the Washington, D.C., CAPCO program, a local economic development
 initiative designed to stimulate the flow of financial capital to early
 stage businesses, creating high paying jobs and increasing tax revenues
 across the District. Based on structured tax credits, the $50 million
 program combines private sector expertise in identifying, evaluating and
 financing businesses with the public sector's interest in building a
 stronger local economy.
     NuAmerica Bank is just one of the many growing Washington, D.C.,
 companies in which Advantage Capital has invested in. Recent investments
 include CreateHope Inc., a developer of online-based corporate giving
 programs, Gridpoint, a developer of intelligent energy management (IEM)
 products, and ARC Solutions, a developer of web-based tools for membership
 organizations.
     About Advantage Capital Partners
     Advantage Capital Partners (http://www.advantagecap.com) is a private
 equity firm focused on investing in promising companies in connection with
 federal, state and local economic development efforts. With offices and
 partners in Washington D.C., New Orleans, St. Louis and other cities,
 Advantage has raised more than $750 million in institutional venture
 capital since 1992 and invested in companies across a wide range of
 industries.
 
 SOURCE Advantage Capital Partners