News Column

California Bank of Commerce Completes $16MM Common Equity Offering

June 30, 2014



LAFAYETTE, Calif.--(BUSINESS WIRE)-- California Bank of Commerce (OTCQB:CABC) announced today it completed its capital offering of $16 million in common equity.

“We reached our maximum raise of $16 million five weeks after launching our public offering,” said Stephen Cortese, Chairman of the Board. The public offering attracted both existing shareholders and new shareholders, including a number of institutional investors. The Bank’s board and management also invested significantly in the capital raise. “It has been awhile since a Northern California bank has raised capital in a public offering to execute a growth strategy, and we are proud of our accomplishment,” said Cortese.

The Bank’s public offering was oversubscribed. “The new capital will allow the Bank to expand relationships with our existing clients, and allows us to meet the loan and deposit needs of larger commercial companies,” said Terry Peterson, President and CEO. Peterson added, “Our growth strategy also includes providing accelerated career opportunities for our existing bankers and sets a course to commence hiring additional business bankers, including credit and treasury management professionals.”

The Bank’s counsel for this offering were Ernie Panasci and Ryan Behrman of Stinson Leonard Street LLP. Robert Rogowski and Joey Warmenhoven of McAdams Wright Ragen, Inc. acted as financial advisors to California Bank of Commerce, and a portion of the offering was placed by Joey Warmenhoven of McAdams Wright Ragen, Inc.

About California Bank of Commerce

California Bank of Commerce was designed and built to provide a unique banking experience for its clients. The Bank offers a broad range of commercial banking services to closely held 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.




California Bank of Commerce

Terry A. Peterson, 925-283-2265

President and CEO

Mark DeVincenzi, 925-283-2265

EVP Shareholder Relations & CMO

Source: California Bank of Commerce


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Source: Business Wire


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