Bank of Marin Engages Korn Ferry to Commence Search for President and Chief Executive Officer Russell A. Colombo’s Successor
September 20 2019 - 3:30PM
Business Wire
Bank of Marin Bancorp (Nasdaq: BMRC) and its subsidiary, Bank of
Marin, announced today that executive search firm Korn Ferry has
been engaged to commence the search for President and Chief
Executive Officer, Russell A. Colombo’s successor. Korn Ferry will
work with the Board of Directors to evaluate a diverse pool of
internal and external candidates. Mr. Colombo will continue to
serve as President and CEO until a successor is appointed. No
timeline has been set for Mr. Colombo’s retirement.
“While I am looking forward to my retirement, a date has not
been set and I will continue in my role as CEO until a successor is
named and successfully transitioned,” said Colombo. “I work with an
exceptional team and, together, we will continue to execute on our
strategic growth plan while adhering to our guiding principles –
relationship banking, disciplined fundamentals and community
commitment.”
Under Mr. Colombo’s leadership, Bank of Marin delivered strong
organic growth and successfully completed three acquisitions –
Charter Oak Bank, Norcal Community Bancorp and its subsidiary Bank
of Alameda, and Bank of Napa. These three acquisitions contributed
significantly to the aggregate growth of the Bank. During Mr.
Colombo’s tenure, the Bank’s loan portfolio grew by 145%, its
non-interest-bearing deposits by 412% and its total assets by 181%.
Earnings per share have grown from $0.29 in the final quarter of
2006 to $0.60 for the second quarter of 2019.
“We greatly appreciate Russ’ years of dedicated service and his
continued leadership as we begin the search for his successor,”
said Brian Sobel, Chairman of the Board. “The Board is committed to
finding the best possible candidate and shares Russ’ commitment to
a smooth and successful transition.”
Mr. Colombo, age 67, joined Bank of Marin in 2004 as Executive
Vice President and Branch Administrator and has been President and
CEO since 2006.
About Bank of Marin Bancorp
Founded in 1990 and headquartered in Novato, Bank of Marin is
the wholly owned subsidiary of Bank of Marin Bancorp (Nasdaq:
BMRC). A leading business and community bank in the San Francisco
Bay Area, with assets of nearly $2.5 billion, Bank of Marin has 22
branches, 5 commercial banking offices and 1 loan production office
located across the North Bay, San Francisco and East Bay regions.
Bank of Marin provides commercial banking, personal banking, and
wealth management and trust services. Specializing in providing
legendary service to its customers and investing in its local
communities, Bank of Marin has consistently been ranked one of the
“Top Corporate Philanthropists” by the San Francisco Business Times
and one of the “Best Places to Work” by the North Bay Business
Journal. Bank of Marin Bancorp is included in the Russell 2000
Small-Cap Index and Nasdaq ABA Community Bank Index. For more
information, go to www.bankofmarin.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20190920005483/en/
Beth Drummey Marketing & Corporate Communications Manager
Bank of Marin 415-763-4529 | bethdrummey@bankofmarin.com
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