Bank of Commerce Holdings Announces Santa Rosa, CA Loan Production Office

Rhea-AI Summary

Bank of Commerce Holdings (NASDAQ: BOCH) announced the opening of a Loan Production Office (LPO) in Santa Rosa, California, on December 1, 2020. This strategic expansion aims to tap into the economically attractive North Bay markets and aligns with the company's vision for growth. The LPO will be managed by Steve Tagnolli, who has extensive local banking experience. Bank of Commerce Holdings operates as a community bank in northern California, with assets totaling $1.740 billion.

Positive

• Expansion into San Francisco’s North Bay markets through a new LPO.
• Strategic move aligns with the company's vision for growth in attractive markets.
• Experienced local banker Steve Tagnolli appointed to lead the new office.

Negative

• None.

SACRAMENTO, Calif., Nov. 13, 2020 (GLOBE NEWSWIRE) -- Bank of Commerce Holdings (NASDAQ: BOCH) (the “Company”), a $1.740 billion asset bank holding company and parent company of Merchants Bank of Commerce (the “Bank”), today announced the Bank’s expansion to San Francisco’s North Bay markets through the opening of a Loan Production Office (LPO) in Santa Rosa on December 1, 2020. The LPO will be led by Steve Tagnolli whose title will be Senior Vice President, North Bay Regional Manager. The Bank fully intends to transition the LPO into a full service deposit and loan operation.

“This expansion of our operations into the North Bay aligns with our strategic vision of pursuing opportunities in economically attractive markets near our existing footprint and led by talented bankers,” said Randy Eslick, President and Chief Executive Officer. “I am pleased and excited to have Steve join our team. He is a highly skilled and experienced banker, and a lifelong resident of the North Bay who is well known in these attractive markets.”

 “I am thrilled to be a part of a company that can pivot during an unprecedented global pandemic and expand their services into the North Bay. As a 3rd generation Santa Rosan, I look forward to building a talented team to provide the exceptional service Merchants Bank of Commerce is known for,” said Steve Tagnolli, Regional Manager.

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’s wine country and the Sacramento Valley along the Interstate 5 corridor from Sacramento to Yreka. 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”.

FAQ

What is the significance of BOCH's new Loan Production Office in Santa Rosa?

The new Loan Production Office in Santa Rosa marks Bank of Commerce Holdings' expansion into the North Bay markets, enhancing its footprint and potential for increased business.

When will the new LPO for BOCH officially open?

The Loan Production Office for Bank of Commerce Holdings will officially open on December 1, 2020.

Who is leading the new LPO for BOCH in Santa Rosa?

The new LPO will be led by Steve Tagnolli, who has significant banking experience in the North Bay area.

What is the asset size of Bank of Commerce Holdings?

Bank of Commerce Holdings has assets totaling $1.740 billion.

Which markets is BOCH targeting with its latest expansion?

Bank of Commerce Holdings is targeting the economically attractive North Bay markets with its latest expansion.