Bank of Commerce Holdings Announces Management Change

Rhea-AI Summary

Bank of Commerce Holdings (NASDAQ: BOCH) announced the appointment of Carl W. Rood as Executive Vice President and Chief Operating Officer, effective August 1, 2020. Rood, who has over 30 years of banking experience, previously served as Senior Vice President and Chief Risk Officer since October 2016. Randall S. Eslick, President and CEO, expressed confidence in Rood's capabilities, highlighting his extensive knowledge as a significant asset to the management team. Bank of Commerce Holdings operates Merchants Bank of Commerce, providing community banking services across northern California.

Positive

• Appointment of Carl W. Rood as COO is likely to enhance management experience and operational efficiency.
• Rood's extensive banking experience (30+ years) may foster stability and confidence within the organization.

Negative

• None.

SACRAMENTO, Calif., July 22, 2020 (GLOBE NEWSWIRE) --  Bank of Commerce Holdings (NASDAQ: BOCH) (the “Company”), a $1.712 billion asset bank holding company and parent company of Merchants Bank of Commerce (the “Bank”), today announced that its Board of Directors has appointed Carl W. Rood as Executive Vice President and Chief Operating Officer of the Company and of the Bank, effective August 1, 2020. Mr. Rood previously served as Senior Vice President and Chief Risk Officer since October 2016.

“I am pleased to announce Carl’s promotion to Executive Vice President and Chief Operating Officer,” stated Randall S. Eslick, President and Chief Executive Officer. “Carl brings a wealth of knowledge and experience to the role and will continue to be a valuable asset to our management team.”

Prior to his employment with the Bank, Mr. Rood held similar positions at other financial institutions and has over 30 years of experience in banking. Mr. Rood holds a Bachelor of Science in Business Administration with a concentration in finance from California State University, Sacramento.

About Bank of Commerce Holdings

Bank of Commerce Holdings is a bank holding company headquartered in Sacramento, California and is the parent company for Merchants Bank of Commerce. The Bank is an FDIC-insured California banking corporation providing community banking and financial services in northern California from Sacramento to Yreka along the Interstate 5 corridor. The Bank was incorporated as a California banking corporation on November 25, 1981 and opened for business on October 22, 1982. The Company’s common stock is listed on the NASDAQ Global Market and trades under the symbol “BOCH”.

Contact Information:

Randall S. Eslick, President and Chief Executive Officer
Telephone Direct (916) 677-5800

James A. Sundquist, Executive Vice President and Chief Financial Officer
Telephone Direct (916) 677-5825

Andrea M. Newburn, Vice President and Senior Administrative Officer / Corporate Secretary
Telephone Direct (530) 722-3959

FAQ

Who is the new COO of Bank of Commerce Holdings?

Carl W. Rood has been appointed as Executive Vice President and Chief Operating Officer.

When does Carl W. Rood start as COO?

Carl W. Rood's appointment as COO is effective August 1, 2020.

What prior position did Carl W. Rood hold at Bank of Commerce Holdings?

Before his promotion, Rood served as Senior Vice President and Chief Risk Officer.

How many years of experience does Carl W. Rood have in banking?

Carl W. Rood has over 30 years of banking experience.

What is the stock symbol for Bank of Commerce Holdings?

The stock symbol for Bank of Commerce Holdings is BOCH.