Contact Information: Contact: Mark DeVincenzi 925-444-2916
California Bank of Commerce Participates in U.S. Treasury Capital Purchase Program
| Source: California Bank of Commerce
LAFAYETTE, CA--(Marketwire - February 27, 2009) - California Bank of Commerce (OTCBB : CABC ), a
unique commercial bank in the San Francisco Bay Area targeting middle
market businesses and professionals, today announced the Bank completed a
$4.0 million preferred capital raise after approval by the U.S. Treasury to
participate in its Capital Purchase Program (CPP).
The Treasury's CPP is a voluntary program, designed to attract
participation by healthy banking institutions whose continued participation
in the economy is vital to America's recovery. Reaffirming the Bank's
commitment to lending, CEO John Rossell said, "California Bank of
Commerce's business-focused strategy is ideally suited to Treasury's
strategy. We don't need capital today, but this bank is committed to
growth and, over time, growth always requires capital. We made $80 million
in new loans last year. With this new capital in place, we are positioned
to push boldly ahead, despite today's difficult capital markets."
For further information regarding the CPP, please visit the Bank's website:
www.californiabankofcommerce.com; Financial Statements page under Investor
Relations.
About California Bank of Commerce
California Bank of Commerce was designed and built to provide a unique
banking experience for businesses, entrepreneurs, and their families.
California Bank of Commerce provides a broad range of commercial banking
and advisory services to mid-market 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.