By Jennifer Erb
2016-08-252016-09-01https://wvuieleaders.com/wp-content/uploads/2016/09/[email protected]WVU IE200px200px
Pat Bond came to WVU thinking he would be an Aerospace Engineer. But at the time he was in college, the defense industry was struggling and there were few jobs for AE’s. He decided to switch to Industrial Engineering because of the job market and his interests in business.
Pat’s start in college was a struggle. He joined a fraternity and the party life almost doomed him. His grades started improving his junior year and he ended his college career with a final semester GPA of 3.8. “I made both Dean’s Lists, “Pat describes. “The one for getting kicked out of WVU and the one for high grades.” Pat would eventually receive a Masters degree from WVU.
Pat started his career with CBS, a computer consulting firm. This gave him a lot of expertise in information technology in the early days of the computer industry. He came back to West Virginia to complement computerization of the Workers Compensation Fund.
He then moved to the banking industry, going to work for Charleston Federal Savings and Loan. This was the threshold moment in Pat’s career. Charleston Federal had just won a case before the U.S. Supreme Court that allowed it to operate branch banks.
With the growth associated with branch banking, Pat was asked to do a number of projects to integrate/streamline the business functions. This led to Pat becoming Vice President with responsibilities for information technologies, human resources, and facilitates. He was less than 30 years of age.
Charleston Federal made some bad loans and it was merged with two other banks. Pat was named President of this new entity. Pat led the banks back to profitability after 4 years. The merged banks were eventually sold to One Valley Bank.
Today Pat is the Chairman of the Board of the Federal Home Loan Board (FHLB) of Pittsburgh. This is one of 11 FHLB’s in America. FHLB’s provide stability to financial institutions by extending credit to its members.
Pat is also a Fellow of the National Association of Corporate Directors (NACD). He is the only Fellow in West Virginia. NACD is the leading resource for corporate Boards of Directors. NACD Fellows are the gold standard for corporate directors. In addition to his work with NACD, Pat is on a number of boards of charitable organizations in West Virginia.
Patrick A. Bond is an experienced corporate director and a NACD Board Leadership Fellow. He has served on the Board of the Federal Home Loan Bank of Pittsburgh since 2007 and was elected by the board to serve as its Chairman in 2014. The FHLBank is a $90B wholesale bank serving Delaware, Pennsylvania and West Virginia. He served as Chair of the Bank’s Governance, Public Policy and Human Resources Committees from 2009-2012 and after reorganizing the committee structure last year, he served as Chair of the Human Resources Committee. In these roles, Mr. Bond has been the lead director in negotiations with the Bank’s primary regulator (Federal Housing Finance Agency) on both regulatory standing and NEO compensation matters. He has also worked on Congressional issues related to the banking industry.
Mr. Bond is a Founding General Partner of Mountaineer Capital, LP. He currently serves or has served on the Boards of Mountaineer’s portfolio companies: Troy, LLC and VR, Inc. In the governance of these companies, Mr. Bond has been an active advisor to senior management bringing a breadth of sophisticated engineering and financial services expertise in the areas of strategy, finance, technology and operations. In addition to his portfolio responsibilities, he led the Partnership’s efforts to educate key executive and legislative leaders about the venture capital industry. That effort resulted in significant changes in West Virginia law to encourage the growth and prosperity of the industry. Additionally, he had primary responsibility for fund raising, portfolio investments, both federal (SBA) and state government relations and the general administrative functions of the Partnership.
Prior to founding Mountaineer Capital, Mr. Bond was Chief Executive of Growth Management Group (GMG), a broad-based consulting firm focused on strategic and financial planning in a wide range of corporate and governmental organizations. Before GMG, he was CEO of Eastern Marketing Corporation, a marketer of natural gas to industries in the eastern United States. Prior to Eastern, Mr. Bond served as President and CEO of Atlantic Financial Federal-West Virginia where he was responsible for consolidating and turning around three failed financial institutions. He subsequently led the effort to sell Atlantic to One Valley Bank (now a part of BB&T) and served as co-director of merger integration of AFF into four One Valley affiliate banks.
In addition to his corporate board service, Mr. Bond currently chairs the Charleston Area Alliance, West Virginia’s largest community and economic development organization and is a member of the board of the West Virginia Symphony Orchestra and the Mid-Atlantic Technology Research and Innovation Center.
Mr. Bond holds Master’s and Bachelor’s degrees in Industrial Engineering from West Virginia University where he serves on both the Industrial and Systems Engineering Advisory Board and the Academy of Industrial Engineers.