Recruits Joy Manbeck to Lead Local SBA Loan Development
SAN DIEGO and ATLANTA, Oct. 20 /PRNewswire/ -- Bank of Commerce
(Nasdaq: BCOM) today announced the opening of a new loan production office
(LPO) in Atlanta to serve small businesses throughout the Southeast. The new
office operates as Commerce Loan Co., a Division of Bank of Commerce. Bank of
Commerce is the nation's leading Small Business Administration (SBA) bank
lender and now operates 19 loan offices in nine states.
"Atlanta is the seventh new office we've opened this year and our first
operation east of the Mississippi. It represents a tremendous opportunity for
us to provide our small business lending expertise to a whole new region of
America," said Peter Q. Davis, Chairman and CEO.
Joy C. Manbeck has been hired as the first business development officer at
the new Commerce Loan Co. office, located temporarily at 1100 Circle
75 Parkway, Atlanta. In approximately 90 days, the office will move to its
permanent location: 2839 Paces Ferry Road, Atlanta.
Prior to joining Commerce Loan Co., Manbeck was a top producing SBA senior
vice president and department head with Premier Bank in Atlanta. "With more
than 15 years of SBA lending experience in Georgia, Manbeck commands extensive
experience and business contacts statewide," stated David H. Bartram, senior
executive vice president. Manbeck resides in Alpharetta, Georgia.
"We are very pleased to open our Atlanta office with a business
development professional who has consistently generated $12 million in SBA
loans annually," Bartram added. "In addition to Joy, we anticipate hiring one
or two additional business development officers in the near future." Commerce
Loan Co. opens in Georgia as an SBA Preferred Lender (PLP), the SBA's premier
authorization. Preferred lenders directly approve loans on behalf of the SBA,
resulting in better service, faster loan approvals and quicker disbursement of
funds.
Bank of Commerce operates 19 loan offices in California, Arizona, Nevada,
Oregon, Washington, Colorado, Texas, Utah and now Georgia. Additional loan
offices are planned to open later this year in Boise and Chicago. Bank of
Commerce has been a SBA lender for 23 years and was among the first banks to
participate with the SBA, which will facilitate the lending of approximately
$9 billion to finance small business expansion this year. In addition to
being the nation's leading SBA bank lender, Bank of Commerce is also the
largest publicly held bank headquartered in San Diego based on total assets of
$697.4 million as of September 30, 1998. The bank also operates ten full
service branch offices in Southern California.
SOURCE Bank of Commerce
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Related links:
http://www.bankofcommerce.net
Company News On-Call:
http://www.prnewswire.com/comp/123798.html or fax,
800-758-5804, ext. 123798
CONTACT:
Peter Q. Davis, Chairman & CEO, 619-232-2096,
or David H. Bartram, Sr. Exec. VP, 619-536-4545, ext. 304, both
of Bank of Commerce
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