SOURCE: California Bank of Commerce

July 18, 2007 17:44 ET

California Bank of Commerce Set to Open

LAFAYETTE, CA--(Marketwire - July 18, 2007) - John Rossell III, President and CEO of California Bank of Commerce, announced the bank will be open for business on Friday, July 20, 2007. The bank recently completed a successful initial public offering, raising $27.5 in capital.

"We are gratified by the enthusiastic response our new bank has already received. Our initial public offering, targeted to raise $20-$25 Million, was substantially oversubscribed in just over six weeks," Mr. Rossell said. He continued, "Our initial success with raising capital was attributable to the strength of the board of directors and the organizing group, and we know they will all continue to help us to spread the word." California Bank of Commerce is targeted on the Bay Area's lucrative middle market. "Our focus on middle market businesses, our experienced relationship managers, and our location enable us to position the bank in a unique way, to take advantage of business opportunities throughout the Bay Area."

California Bank of Commerce will offer its customers the latest in banking technology, delivered by a highly experienced professional staff. The bank's leadership team includes four former bank presidents, one former chief operating officer, and numerous calling officers and cash management professionals who are veterans of the bank's Bay Area target market.

The Bank is currently operating in temporary quarters at 270 Lafayette Circle, near its permanent location in the Lafayette Mercantile Exchange building, which is under construction. California Bank of Commerce is a full service commercial bank, focused on middle market owner-operated businesses throughout the San Francisco Bay Area.

Contact Information

  • For further information, contact:
    John Rossell III
    President and CEO
    925-444-2936