California Bank of Commerce Expands Sponsor Finance Division

Rhea-AI Summary

California Bank of Commerce (CBC) has expanded its Sponsor Finance Lending Division with the hiring of veteran banker Marina Kremer. This division collaborates with private equity firms and direct lenders to provide senior debt financing. Kremer brings extensive experience from positions in various banking organizations, enhancing the division's capability to support transactions like buyouts and recapitalizations. California BanCorp operates as the holding company for CBC and trades on the Nasdaq under the symbol CALB.

Positive

• Hiring of veteran banker Marina Kremer enhances the expertise of the Sponsor Finance Division.
• Expansion supports CBC's growth and ability to provide flexible financing options.

Negative

• None.

OAKLAND, Calif., June 17, 2020 (GLOBE NEWSWIRE) -- California Bank of Commerce (CBC) is expanding its Sponsor Finance Lending Division with the addition of veteran banker Marina Kremer. The division works closely with private equity firms (including Search Funds), SBICs and direct lenders to provide cash flow-based senior debt financing.

“We’re pleased to announce and excited to have Marina join our team,” said Larry LaCroix, Executive Vice President and Manager of the Sponsor Finance Division. “Her vast banking experience in relationship and portfolio management adds depth to the Sponsor Finance group and will allow the division to continue its growth.”

Kremer has served in various capacities in banking, most recently as Director of Credit/Underwriting at Neptune Financial (NepFin). Prior to NepFin, she worked at Bank of the West as Senior Lead, Credit Products Officer and Vice President in the Wine/Beverage group syndicating leveraged buyout transactions. Kremer also spent several years in the Corporate Finance Group (Sponsor) of Opus Bank as well as at Wells Fargo and RaboBank in various capacities.

The Sponsor Finance Division supports buyouts/acquisitions, recapitalizations, refinancing and growth capital for companies in a variety of industries. CBC Sponsor Finance works with businesses with professional backing providing capital with flexible structures.

California BanCorp (NASDAQ:CALB) is the holding company for CBC.

About California BanCorp and California Bank of Commerce
California BanCorp, through its wholly-owned subsidiary, California Bank of Commerce, offers a broad range of commercial banking services to closely held businesses and professionals located throughout Northern California. The stock of its parent company, California BanCorp, trades on the Nasdaq Global Select Market under the symbol CALB. For more information on California BanCorp and California Bank of Commerce, call us at (510) 457-3751, or visit us at www.californiabankofcommerce.com.

Contact California Bank of Commerce

California BanCorp
Steven E. Shelton, (510) 457-3751
President and Chief Executive Officer
seshelton@bankcbc.com

Thomas A. Sa, (510) 457-3775
Senior Executive Vice President, Chief Financial Officer and Chief Operating Officer
tsa@bankcbc.com

Larry LaCroix, (408) 380-8642
Executive Vice President, Manager Sponsor Finance
llacroix@bankcbc.com

Media Contact

Caitie Nolan, (925) 790-2748
AMF Media Group
caitie@amfmediagroup.com

 

FAQ

What is the significance of Marina Kremer joining California Bank of Commerce?

Marina Kremer's addition strengthens the expertise of the Sponsor Finance Lending Division, enhancing its capacity to support financing transactions.

How does the Sponsor Finance Division at California Bank of Commerce operate?

The division collaborates with private equity firms and direct lenders to provide cash flow-based senior debt financing for various transactions.

What financial services does California BanCorp offer?

California BanCorp offers a range of commercial banking services focusing on closely held businesses and professionals across Northern California.

What is the stock symbol for California BanCorp?

California BanCorp trades on the Nasdaq under the symbol CALB.