SOURCE: California Bank of Commerce

California Bank of Commerce

February 27, 2009 11:57 ET

California Bank of Commerce Participates in U.S. Treasury Capital Purchase Program

LAFAYETTE, CA--(Marketwire - February 27, 2009) - California Bank of Commerce (OTCBB: CABC), a unique commercial bank in the San Francisco Bay Area targeting middle market businesses and professionals, today announced the Bank completed a $4.0 million preferred capital raise after approval by the U.S. Treasury to participate in its Capital Purchase Program (CPP).

The Treasury's CPP is a voluntary program, designed to attract participation by healthy banking institutions whose continued participation in the economy is vital to America's recovery. Reaffirming the Bank's commitment to lending, CEO John Rossell said, "California Bank of Commerce's business-focused strategy is ideally suited to Treasury's strategy. We don't need capital today, but this bank is committed to growth and, over time, growth always requires capital. We made $80 million in new loans last year. With this new capital in place, we are positioned to push boldly ahead, despite today's difficult capital markets."

For further information regarding the CPP, please visit the Bank's website: www.californiabankofcommerce.com; Financial Statements page under Investor Relations.

About California Bank of Commerce

California Bank of Commerce was designed and built to provide a unique banking experience for businesses, entrepreneurs, and their families. California Bank of Commerce provides a broad range of commercial banking and advisory services to mid-market businesses and professionals throughout the San Francisco Bay Area. For more information on California Bank of Commerce and our unique banking experience, call us at 925-283-2265, or visit us at www.californiabankofcommerce.com.

Contact Information

  • Contact:
    Mark DeVincenzi
    925-444-2916