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PRESS RELEASE
H Bancorp, LLC
Contact: Joseph J. Thomas, President and COO
Phone: 410-536-7336
E-mail jthomas@h-bancorp.com
Date: July 15, 2014
H Bancorp Launched by Executives of Former Hovde Private Equity Advisors
(Columbia, MD – H Bancorp, LLC) – H Bancorp LLC (“H Bancorp”) announced on Tuesday,
July 15, 2014, that it had been formed as the successor bank holding company to Financial
Services Partners Fund I LLC (“FSPFI”) and Western Acquisition Partners LLC (“Western”).
On January 23, 2014, H Bancorp received approval from the Federal Reserve Board for an
application to create a new top-tier holding company to hold the ownership interests of Eric D.
Hovde and Steven D. Hovde in Sunwest Bancorp, Inc., Bay Bancorp, Inc., and First Atlantic
Financial Holdings, Inc. The restructuring of FSPFI and Western was completed on June 30,
2014, and all the shares of underlying portfolio companies were distributed to the individual
investors of FSPFI and Western.
“We believe that this restructuring transaction presents an opportunity for our investors to realize
the strong value that we have created in our bank investments over time and benefit from the size
and scale that H Bancorp can provide on a consolidated basis to its subsidiary bank holding
companies,” said Eric D. Hovde, Chairman and CEO of H Bancorp. “The investment team from
Hovde Private Equity Advisors, including Joe Thomas, Shaun Murphy, Bill Weller and Carson
Lappetito, is continuing together in key leadership roles for the new multibank holding company,
and we will provide industry and financial expertise to ensure strong governance, strategic
direction and financial results of the subsidiary bank holding companies going forward,”
continued Hovde.
H Bancorp is a multibank holding company with subsidiary banks totaling approximately $1.5
billion in assets, $200 million in common equity, 375 employees and 25 branches. The assets
attributable to H Bancorp on a fully consolidated basis will be approximately $825 million in
assets and $106 million in equity. H Bancorp is being formed during a period of consolidation in
U.S. banking, where both the holding company and the subsidiary banks can sponsor growth
initiatives and participate in acquisitions of community banks. “The new holding company
structure is an innovative approach to community bank ownership that brings a level of
sophistication and buying power at the holding company that subsidiary banks cannot achieve

2. alone at a time in the industry when scale is critical,” said Joseph J. Thomas, President and COO
of H Bancorp. “The business model will allow local boards and management teams to build high
performing banks and premium franchises that meet the needs of attractive communities across
the United States,” added Thomas.
More information about H Bancorp is available at our web site www.h-bancorp.com. Profiles
of subsidiary bank holding companies are provided below:
Sunwest Bancorp is an $800 million community bank based in Irvine, CA with operations in
California, Arizona, Washington and Idaho. Sunwest’s significant growth occurred in 2009 as
the Bank’s disciplined credit culture placed it in a position to act as a platform for failed FDIC
acquisitions. The Bank completed three acquisitions in 2009 including, MetroPacific Bank,
Pacific Coast National Bank and First State Bank of Flagstaff. The Bank continued its expansion
across the northwest through the FDIC-assisted acquisitions of Washington-based Westside
Community Bank (2013) and Idaho-based Syringa Bank (2014). The bank plans to continue it
expansion across the western United States through targeting specific, growing markets. Eric D.
Hovde is Chairman of the company and Joseph J. Thomas serves on the board of directors.
Bay Bancorp (NASDAQ: BYBK) is a $530 million community bank based in Baltimore, MD.
The franchise was created by FSPFI when it acquired Bay National Bank in 2010 through a
Purchase & Assumption agreement with the FDIC. Bay Bank continued its growth by acquiring
Carrollton Bank (2013) in Columbia Maryland and merged into Carrollton Bancorp and the
franchise became a publicly traded entity. Most recently, Bay Bank completed the acquisition of
the failed Slavie FSB (2014) from the FDIC, adding further scale to the growing franchise. Bay
Bank will pursue market growth in the Baltimore/Washington market with an expanding banking
officer team and additional in-market consolidation opportunities. Joseph J. Thomas is
Executive Chairman of the company and Eric D. Hovde serves on the board of directors.
FirstAtlantic Financial Holdings is a $385 million community bank based in Jacksonville, FL.
The institution was established in 2007 and has expanded through a combination of acquisitions,
including open bank acquisition of CenterBank (2011), the failed-bank acquisition of Heritage
Bank of North Florida (2013) and branch acquisitions from Synovus Financial (2011) and
Prosperity Bank (2012). Management of FirstAtlantic plans to grow to over $1 billion in assets
through organic growth initiatives in northeast Florida and in-market acquisitions opportunities
in southeastern coastal markets. Joseph J. Thomas serves on the board of directors.
Forward Looking Statements
This release may contain certain forward-looking statements that are based on management's
current expectations regarding economic, legislative, and regulatory issues that may impact
earnings, performance and growth of H Bancorp and/or its subsidiary companies in future

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periods. Forward-looking statements can be identified by the fact that they do not relate strictly
to historical or current facts. They often include the words “believe,” “expect,” “intend,”
“estimate” or words of similar meaning, or future or conditional verbs such as “will,” “would,”
“should,” “could” or “may.” Factors that could cause future results to vary materially from
current management expectations include, but are not limited to, general economic conditions,
economic uncertainty in the United States and abroad, changes in interest rates, deposit flows,
real estate values, expected future cash flows on acquired loans, competition, changes in
accounting principles, policies or guidelines, legislation or regulation, and other economic,
competitive, governmental, regulatory and technological factors affecting H Bancorp's and/or its
subsidiary companies’ operations, pricing, products and services. These and other important
factors are detailed in various securities law filings made periodically by the companies
referenced herein. H Bancorp undertakes no obligation to release publicly the result of any
revisions to these forward-looking statements that may be made to reflect events or
circumstances after the date of this press release or to reflect the occurrence of unanticipated
events.