California Bank of Commerce Creates New Specialty Banking Division
15 Novembre 2022 - 2:35PM
California Bank of Commerce (CBC) has formed a new division to
focus on existing specialty lines of business. The division will
look to expand both credit and treasury solutions to the Bank’s
commercial markets. Known as CBC Specialty Banking, the division
offers a broad asset based lending platform, CBC Asset Based
Lending, ranging from turnarounds to early- and mid-stage companies
through acquisitions (both sponsor and non-sponsor). It also
includes the Bank’s existing sponsor finance products, now called
CBC Sponsor Finance, working with private equity firms, SBICs and
direct lenders to leverage cash flow for acquisitions.
Currently CBC Specialty Banking serves clients nationwide.
Executive Vice President Larry LaCroix is spearheading the division
with the support of nearly two dozen experienced bankers. LaCroix
formed California Bank of Commerce’s successful sponsor finance
offering in 2020. He has 40 years of experience in asset based
lending and leverage cash flow as well as other specialty banking
products.
To broaden the Bank’s nationwide reach, Ari Kramer has joined
LaCroix on the CBC Sponsor Finance team as Group Manager and
Executive Vice President based out of a business office in New York
City. Kramer has 15 years of experience in leverage cash flow and
C&I lending. Most recently, he served as Associate
Director for Leverage Finance at Investors Bank. Kramer will focus
on expanding CBC’s private equity relationships on the East Coast
as well as exploring additional opportunities in the market.
On the asset based lending side, Derek Rosenstrauch has joined
the Bank as Group Manager and Executive Vice President of CBC Asset
Based Lending to focus on both independent and sponsor-backed asset
based lending, refinancings, split liens and unitranche structures.
He has more than 15 years of banking experience, most recently
overseeing West Coast originations for CIBC Bank USA.
Kevin Knox, Group Manager and Executive Vice President, will
continue to focus on providing creative and flexible credit
structures to the sector of the asset based lending market focused
on collateral, presently known as CBC Business Credit. Knox has
more than 35 years of experience in asset based lending including
the past eight years with CBC.Additionally, Kristina Soto, recently
promoted to Senior Vice President, will oversee the Specialty
Banking operations group. Soto has been with the Bank for
eight years in various operations roles.
The Specialty Banking Division provides financing solutions
customized to address the specific needs of each transaction. Debt
structures include senior term loans, delayed draw term loans as
well as non- formula, ABL and recurring revenue revolving lines of
credit. Additionally, structures can include split liens as well as
unitranche structures. Facility sizes typically range from $2
million to $30 million.
For more information about California Bank of Commerce and CBC
Specialty Banking, visit www.californiabankofcommerce.com.
About California BanCorp and California
Bank of Commerce
California BanCorp, through its wholly-owned subsidiary,
California Bank of Commerce, offers a broad range of
commercial banking services to closely held businesses and
professionals. The stock of its parent company, California
BanCorp, trades on the Nasdaq Global Select Market under the symbol
CALB. For more information on California BanCorp and
California Bank of Commerce, call us at (510) 457-3751, or visit us
at www.californiabankofcommerce.com.
Contact California Bank of CommerceLarry
LaCroix, (510) 457-3750Executive Vice President and Director, CBC
Specialty Bankingllacroix@bankcbc.com
Media Contact Caitie Nolan, (925)
790-2748 AMF Media Group caitie@amfmediagroup.com
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