Bank of Marin Bancorp, parent company of Bank of Marin, has announced the completion of the merger of NorCal Community Bancorp, parent company of Bank of Alameda. The transaction adds approximately $230 million in deposits and $170 million in loans to Bank of Marin. The Bank now has in excess of $1.7 billion in assets and operates 21 offices in five counties including
Alameda, San Francisco, Marin, Sonoma and Napa.
With the closing of the merger, Kevin Kennedy, previously a director of NorCal and Bank of Alameda, has joined the Bank of Marin Bancorp and Bank of Marin Boards of Directors. Mr. Kennedy is currently serving his fourth term as Alameda City Treasurer and is very active in the local community.
“With the close of the merger successfully behind us, we look forward to working with the Bank of Alameda team and the local community to make a positive impact in the East Bay,” said Russell A. Colombo, President and Chief Executive Officer. ”The majority of the client-facing team at Bank of Alameda, including former CEO Steve Andrews, will continue to serve our customers ensuring a smooth transition with a high level of service. We are well positioned to move forward together as a trusted community bank, bringing an expanded line of products and services to new and existing customers.”
