OAKLAND, CA--(Marketwire - July 19, 2010) - Community Bank of the Bay (
"It was a herculean effort to raise capital in this environment. Most of the capital came from the new markets we have entered, a confirmation of the reputation of the bankers who have joined us from those markets," said Brian K. Garrett, the Bank's Chief Executive Officer. He added, "The five new board members with their varied backgrounds will be great additions to the Board of Directors."
William Keller, president and chief operating officer of the Bank, added, "We believe that the success of this capital raise reflects the belief shared by many local, individual investors that Community Bank of the Bay's future prospects are worthy of establishing a long-term equity position. We anticipate that the additional capital will be used to increase lending to small and medium sized businesses."
With the new capital coming from the South Bay and East Bay regions, additional directors were added from those regions. The new board members are
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William E. Purcell. Mr. Purcell has been the President of Walnut Creek based Purcell International since 1984. Purcell International is 56 years old and engaged in the business of food importation and brokerage Mr. Purcell received a B. A. in International Economics from the University of California at Berkeley in 1975 and was a member of 5 National Championship water polo teams and a 10 time All American.
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Dr. Eddie Cheung. Dr. Cheung is a Clinical Professor of Internal Medicine and Gastroenterology/Hepatology at the University Of California Davis School Of Medicine, and is on the clinical faculty at the Stanford University School of Medicine. Dr. Cheung received his medical degree from Taipei Medical University in Taiwan, received medical trainings at Tri-service General Hospital and Central Clinic in Taipei as well as Catholic Medical Center in New York and served as a Fellow in Digestive Diseases and Nutrition at the University of Louisville.
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Gunter Unruh. Mr. Unruh has been the president/owner of Metric Design and Manufacturing, Inc., a firm that specializes in engineering, machining and manufacturing of defense applications in Campbell. Before owning his own company Mr. Unruh was a manufacturing specialist with IBM and a stockbroker. Mr. Unruh holds a degree from Berufs & Handelsschule Trade Technical College, Moenchen-Gladbach, Germany.
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Tracey Enfantino. Mrs. Enfantino is General Manager of Environmental Systems, Inc., a mechanical contractor, and energy management services provider, with offices in San Jose and Sacramento, CA. She is part of the second generation that owns and operates the firm and has been with the company for thirty years. Mrs. Enfantino was a founder of San Jose based Heritage Bank of Commerce and served as a director of the bank from 1994-2003.
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Arthur K. Lund. Mr. Lund is of counsel with the San Jose law firm of Hoge Fenton Jones and Appel. Mr. Lund practiced hospital, banking and real estate law for over 45 years in San Jose. He was the founding Chairman of the Board of San Jose National Bank and served on that board until the bank was sold to Greater Bay Bancorp. He then served on the Greater Bay Bank board until that 11 bank holding company was sold to Wells Fargo Bank in 2006. During that time he also served on the board of Golden Gate Bank, a subsidiary of Greater Bay, and on the board of Samaritan Medical Center. He holds a B.A. from San Jose State and a Juris Doctorate from U.C. Berkeley School of Law.
Community Bank of the Bay serves the financial needs of a variety of commercial customers including businesses, professional service firms, and non-profit organizations. Information on the bank is available online at www.communitybankbay.com. Community Bank of the Bay is a member of the FDIC.
Contact Information:
Media contact:
Brian K. Garrett
CEO
510 433-5402