Bank of Commerce Holdings Announces Name Change for Subsidiary Bank
April 15 2019 - 9:30AM
Bank of Commerce Holdings (NASDAQ: BOCH) (the “Company”), a
$1.5 billion asset bank holding company and parent company of
Redding Bank of Commerce (the “Bank”), today announced that the
Bank’s name will change to Merchants Bank of Commerce effective May
20, 2019.
“I am excited to announce the Bank’s name change
to Merchants Bank of Commerce,” said Randall S. Eslick, President
and Chief Executive Officer. “The change unifies all of our
branches and divisions under one name and one logo. The new name,
Merchants Bank of Commerce, speaks to the legacy of both Redding
Bank of Commerce and The Merchants National Bank of Sacramento,
which our Company acquired in January 2019. As Merchants Bank of
Commerce, we remain committed to our core values of integrity,
ownership, respect, excellence, and teamwork, and to fostering
successful growth in our company, our people, and our
community. Our name is changing, but we are still your bank
of choice.”
All of the Bank’s locations will begin operating
as Merchants Bank of Commerce on May 20, 2019. At that time, the
Bank’s website URL will change to mboc.com.
About Bank of Commerce
Holdings
Bank of Commerce Holdings is a bank holding
company headquartered in Sacramento, California and is the parent
company for Redding Bank of Commerce which operates under three
separate names (Redding Bank of Commerce; Sacramento Bank of
Commerce, a division of Redding Bank of Commerce; and The Merchants
Bank of Sacramento, a division of Redding Bank of Commerce). The
Bank is an FDIC-insured California banking corporation providing
community banking and financial services through twelve locations
in northern California. 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”.
Forward-Looking Statements
Bank of Commerce Holdings wishes to take
advantage of the safe harbor provisions included in the Private
Securities Litigation Reform Act of 1995. This news release
includes statements by the Company that describe management’s
expectations regarding future developments and which may not be
based on historical facts and are “forward-looking statements”
within the meaning of Section 27A of the Securities Act of 1933, as
amended and Section 21B of the Securities Act of 1934, as amended.
Future events are difficult to predict and are necessarily subject
to risk and uncertainty that may cause actual results to differ
materially and adversely from those expressed or implied by our
forward-looking statements. In addition to discussions about risks
and uncertainties set forth from time to time in the Company's
public filings, factors that may cause actual results to differ
materially from those contemplated by such forward looking
statements include, among others, the following possibilities: (1)
local, national and international economic conditions are less
favorable than expected or have a more direct and pronounced effect
on the Company than expected and adversely affect the Company's
ability to continue its internal growth at historical rates and
maintain the quality of its earning assets; (2) changes in interest
rates reduce interest margins more than expected and negatively
affect funding sources; (3) projected business increases following
strategic expansion or opening or acquiring new banks and/or
branches are lower than expected; (4) our concentration in lending
tied to real estate exposes us to the adverse effects of material
increases in interest rates, declines in the general economy,
tightening credit markets or declines in real estate values; (5)
competitive pressure among financial institutions increases
significantly; (6) legislation or regulatory requirements or
changes adversely affect the businesses in which the Company is
engaged; and (7) technological changes could expose us to new
risks.
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
Samuel D. Jimenez, Executive Vice President and Chief Operating Officer
Telephone Direct (530) 722-3952
Andrea M. Newburn, Vice President and Senior Administrative Officer / Corporate Secretary
Telephone Direct (530) 722-3959
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