Community Bank of the Bay Announces New Directors to Execute Growth Strategy
NEWS RELEASE for Immediate Release – August 23, 2017
OAKLAND, CA – Community Bank of the Bay (OTCBB:CBYAA) announced today that Sam Hedgpeth and Kenneth Seideman have joined the board of directors.
Sam Hedgpeth is a successful C-level business leader and teacher who brings a wealth of financial knowledge and direct experience to the bank. His portfolio of companies ranges from five venture funded Silicon Valley technology start-ups where he did four IPOs and a merger to consulting with other bay area firms, both large and small.
“Sam’s broad background in growth oriented companies will be instrumental to our success as we expand and seek to exceed the expectations of our clients, communities and investors. His willingness to share his knowledge and experiences with others so that they can also succeed is evident by his time as a teacher at both universities and community colleges, and his commitment to economic opportunity for all sits right at the heart of our bank’s mission,” said Bill Keller President and CEO of Community Bank of the Bay.
“I have been an investor in the bank since first 2012. As I found out more I was impressed with management’s vision of a bank that does right by both its investors and clients. I believe in this bank’s mission and purpose and I’m excited to be part of it as we build a larger and stronger bank.”
Kenneth Seideman is a CPA and the managing partner of Seideman Accounting Group, a second- generation accounting firm with offices on the Peninsula and in the East Bay.
“Ken’s deep understanding of owner-operator and middle market companies compliments our client base well. With asset valuation expertise, financial analysis, tax expertise and a broad knowledge of the ever-changing market conditions facing our clients, Ken’s skills and experience better allow us to truly add value to our clients. He will be instrumental in helping us reach the type of motivated and talented companies that we serve best,” said Keller.
“It is an honor to work alongside the members of the bank’s board and employee team. It’s a tremendous opportunity to join the bank at this time. With a new round of capital and a plan for growth our bank is well positioned to make a real difference for the businesses and communities of the Bay Area,” said Seideman.
“We are honored to have individuals with the experience and success of Sam and Ken join our board. Their deep knowledge of business, finance and the investment community will be extremely valuable as we grow our market share in Silicon Valley and throughout the Bay Area,” stated William Purcell, Chairman of Community Bank of the Bay. “In addition to their roles as outside directors, Sam will also become a member of the Bank’s Strategic Planning Committee and Ken will serve on the Directors Loan Committee. Both of these important committees are strengthened by their presence.”
Sam Hedgpeth is a C-level operating and financial officer in the internet, software, manufacturing, supply chain, retail and hardware distribution industries with international and complex technology and product transaction experience. His portfolio includes five start-ups, three IPOs and one merger. He has a B.S. in Business Administration from University of California, Berkeley and an MBA from University of California at Los Angeles. He was the Assistant Dean of the Jack Baskin School of Engineering at University of California Santa Cruz from 2002-2004, and for over 30 years he has been adjunct faculty at UC Santa Cruz, Santa Clara University and De Anza College.
Ken Seideman is the president of Seideman Accounting Group, a full service San Francisco Bay Area accounting firm with offices in San Mateo and Dublin, California, established in 1968. Ken has a wide variety of experience including domestic and international tax issues. The firm provides accounting services including individual, business, estate and gift tax planning and tax return preparation, certified audits, compiled and reviewed financial statements, business accounting/bookkeeping, business valuations, and international tax assistance. Ken is a member of the American Institute of Certified Public Accountants (AICPA) and the California Certified Public Accountants and he is also an accomplished musician. Ken is a classically trained pianist and relaxes by playing Improvisational Jazz.
About Community Bank of the Bay
Community Bank of the Bay (OTCBB: CBYAA) serves the financial needs of closely held businesses and professional service firms, as well as their owner-operators and non-profit organizations throughout the San Francisco Bay Area. Community Bank of the Bay is a member of the FDIC, an SBA Preferred Lender, and a CDARS depository institution, headquartered in Oakland, with full service branches in Danville and San Mateo. It is also California’s first FDIC-insured certified Community Development Financial Institution and one of only three operating in California. The bank is recognized for establishing the Bay Area Green Fund to provide financing to sustainable businesses and projects and supports environmentally responsible values. Additional information on the bank is available online at www.BankCBB.com.
This release may contain forward-looking statements, such as, among others, statements about plans, expectations and goals concerning growth and improvement. Forward-looking statements are subject to risks and uncertainties. Such risks and uncertainties may include but are not necessarily limited to fluctuations in interest rates, inflation, government regulations and general economic conditions, including the real estate market in California and other factors beyond the Bank’s control. Such risks and uncertainties could cause results for subsequent interim periods or for the entire year to differ materially from those indicated. Readers should not place undue reliance on the forward-looking statements, which reflect management’s view only as of the date hereof. The Bank does not undertake, and specifically disclaims, any obligation to update or revise any forward-looking statements, whether to reflect new information, future events, or otherwise, except as required by law.
Media Contacts: William S. Keller, President & CEO, 510-433-5404 wkeller@BankCBB.com