CDBA Member Appoints New Chairman, Sets Lending Record
Oakland, California based Community Bank of the Bay has appointed a new chairman, Bill Purcell, and a new vice chairman, Gunter Unruh. The bank, led by President and CEO William Keller, also posted a third-quarter profit of $381,000, making this its seventh profitable quarter. "No money, no mission... We have made tremendous progress in the past few years and are now positioned to bring true relationship banking to an even broader market," said Purcell. Purcell says the bank will debut a new website in the months ahead and highlight what differentiates the bank from its many competitors. In the latest quarter, the bank set records in both loans and deposits. Community Bank of the Bay saw 21% year-over-year growth of deposits at the end of the third quarter, when deposits stood at $150.5 million. Loans rose almost $10 million to $129 million in the third quarter, up almost 30% from a year ago and up 8.3% from this year's second quarter.