OAKLAND, CA--(Marketwired - Jan 17, 2014) - Community Bank of the Bay (
2013 Financial Highlights
"2013 was a significant year for the Bank as we built on the foundation that was established in recent years. We elected William Purcell and Gunter Unruh to the board positions of Chairman and Vice-Chairman respectively, and added two more exceptionally experienced directors in Jack Hounslow and James Mayer. The commitment and support of our entire Board has been extremely important to our success.
"The Bank added four new staff members, enhancing our team in the Silicon Valley Region, SBA lending and credit administration. We closed on the sale of our Oakland headquarters building and moved to more cost effective and efficient offices in a LEED certified building, at 180 Grand Ave, Oakland.
"Community Bank of the Bay was again recognized by the Community Development Financial Institution Fund of the US Treasury, by receiving the Bank Enterprise Award (BEA). The BEA program was created, in 1994 to support FDIC-insured financial institutions around the country that are dedicated to financing and supporting community and economic development activities. This is the thirteenth year that the Bank has received this award, and the fourth consecutive year in which the Bank was funded at the highest level. This award validates our commitment to make a positive and sustainable economic impact on our community by providing local businesses and non-profit organizations with a committed and resourceful financial partner who can help them achieve their goals and build a healthy and economically inclusive community.
"Looking ahead to 2014 we expect continued benefits from the increased earning asset base, and full year cost savings from our headquarters move and asset quality improvements, while continuing to make investments in markets and people. We are excited by the potential of the service offerings we have been working on and expect to introduce specific initiatives throughout the year," stated William S. Keller, President and Chief Executive Officer.
About Community Bank of the Bay
Community Bank of the Bay (
Forward-Looking Statements
This release may contain forward-looking statements, such as, among others, statements about plans, expectations and goals concerning growth and improvement. Forward-looking statements are subject to risks and uncertainties. Such risks and uncertainties may include but are not necessarily limited to fluctuations in interest rates, inflation, government regulations and general economic conditions, including the real estate market in California and other factors beyond the Bank's control. Such risks and uncertainties could cause results for subsequent interim periods or for the entire year to differ materially from those indicated. Readers should not place undue reliance on the forward-looking statements, which reflect management's view only as of the date hereof. The Bank does not undertake, and specifically disclaims, any obligation to update or revise any forward-looking statements, whether to reflect new information, future events, or otherwise, except as required by law.
Contact Information:
Media Contacts:
William S. Keller
President & CEO
510-433-5404
wkeller@communitybankbay.com