DENVER, July 9 /PRNewswire-FirstCall/ -- CoBiz Financial Inc. announced the hiring of market presidents for the company's banking operations, comprised of Colorado Business Bank and Arizona Business Bank. Scott Page, who has more than 25 years of experience in the Denver banking community, will serve as the first Colorado market president. The new Arizona market president, Bruce T. (Toby) Day, has more than three decades of experience in the Phoenix banking community. The market presidents will be responsible for overseeing the Bank's locations and providing direction for future growth.
"We are so pleased to welcome such outstanding professionals to our company," said Jonathan C. Lorenz, CEO of Colorado Business Bank and Arizona Business Bank. "Both Scott and Toby are well respected professionals in their respective markets who will enable us to continue gaining market share while attracting the top tier of business and individual customers in Colorado and Arizona."
Prior to joining Colorado Business Bank, Page served as executive vice president and director of community banking for Vectra Bank Colorado for eight years. In that position, he was responsible for Vectra's commercial, executive, business, SBA and statewide branch banking operations. Those areas comprised 300 bankers and branch personnel, $1.3 billion in loans and $1.4 billion in deposits. Previously, Page also served as senior vice president and manager of US Bank's large commercial banking and financial institutions group.
Page received his bachelor's degree and MBA from University of New Mexico, and is a graduate of the University of Colorado School of Banking. He currently is a member of the Metro Denver Economic Development Corporation's Board of Governors.
Day has served as senior vice president and manager of business banking for Marshall & Ilsley (M&I) Bank Arizona for 11 years. In that position, he led a staff of 51 in building a loan portfolio of $750 million and a deposit portfolio of $350 million serving the needs of small to medium-sized businesses. Day also served in senior positions with National Bank of Arizona, Rio Salado Bank and Continental Bank/Chase Bank of Arizona.
Day received his bachelor's of science degree in business administration from Black Hills State University and is a graduate of the Pacific Coast School of Banking. He is a past president of Risk Management Association (RMA), is a life member of the Tempe Diablos, and active with the Phoenix Rescue Mission and St. Andrew the Apostle Catholic Church.
CoBiz Financial Inc. (http://www.cobizfinancial.com/) is a $2.7 billion financial holding company headquartered in Denver. The Company operates Colorado Business Bank and Arizona Business Bank, full-service commercial banking institutions that offer a broad range of sophisticated banking services to a targeted customer base of professionals and small to mid-sized businesses. CoBiz also offers trust and fiduciary services through CoBiz Trust; property and casualty insurance brokerage and risk management consulting services through CoBiz Insurance; investment banking services through Green Manning & Bunch; the management of stock and bond portfolios for individuals and institutions through CoBiz Trust, Alexander Capital Management Group and Wagner Investment Management; and employee and executive benefits consulting and wealth transfer services through Financial Designs, Ltd.
This release contains forward-looking statements that describe CoBiz's future plans, strategies and expectations. All forward-looking statements are based on assumptions and involve risks and uncertainties, many of which are beyond our control and which may cause our actual results, performance or achievements to differ materially from the results, performance or achievements contemplated by the forward-looking statements. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include words such as "believe," "expect," "anticipate," "intend," "plan," "estimate" or words of similar meaning, or future or conditional verbs such as "will," "would," "should," "could" or "may." Forward-looking statements speak only as of the date they are made. Such risks and uncertainties include, among other things:
-- Risks and uncertainties described in our reports filed with the Securities and Exchange Commission, including our most recent 10-K. -- Competitive pressures among depository and other financial institutions nationally and in our market areas may increase significantly. -- Adverse changes in the economy or business conditions, either nationally or in our market areas, could increase credit-related losses and expenses and/or limit growth. -- Increases in defaults by borrowers and other delinquencies could result in increases in our provision for losses on loans and leases and related expenses. -- Our inability to manage growth effectively, including the successful expansion of our customer support, administrative infrastructure and internal management systems, could adversely affect our results of operations and prospects. -- Fluctuations in interest rates and market prices could reduce our net interest margin and asset valuations and increase our expenses. -- The consequences of continued bank acquisitions and mergers in our market areas, resulting in fewer but much larger and financially stronger competitors, could increase competition for financial services to our detriment. -- Our continued growth will depend in part on our ability to enter new markets successfully and capitalize on other growth opportunities. -- Changes in legislative or regulatory requirements applicable to us and our subsidiaries could increase costs, limit certain operations and adversely affect results of operations. -- Changes in tax requirements, including tax rate changes, new tax laws and revised tax law interpretations may increase our tax expense or adversely affect our customers' businesses.
In light of these risks, uncertainties and assumptions, you should not place undue reliance on any forward-looking statements in this release. We undertake no obligation to publicly update or otherwise revise any forward-looking statements, whether as a result of new information, future events or otherwise.
CoBiz Financial Inc.
CONTACT: Sue Hermann of CoBiz Financial Inc., +1-303-312-3488
Web Site: http://www.cobizfinancial.com/
