Headline: Oakland bank names chairman

Publication: San Francisco Business Times

Dateline: Week of December 19th, 2003

Oakland's Community Bank of the Bay named Richard Kahler, founder and former president of Bay Bank of Commerce, as chairman of its board of directors.

Kahler's appointment is part of a strategy to reinvigorate the Community Bank of the Bay, which serves small and mid-sized businesses in Oakland and East Bay communities.

"We are very fortunate to add Dick Kahler to our board," CEO Brian Garrett said. "Dick is a well known and well respected banker whose experience and wise counsel will be invaluable to the Bank as we continue our return to profitability."

Kahler, 68, served as president of Bay Bank of Commerce from its inception in 1981 until it was sold to Greater Bay Bancorp in 2001.

Community Bank of the Bay was founded in 1996 as the first bank designated a community development financial institution in California. It was chartered by the state and the FDIC to provide banking in under-served communities.

When the bank suffered losses, regulatory pressures resulted in management and board changes. Garrett has spent the past year turning around the bank and has recruited new directors, management and staff to implement the turnaround strategy. The new management team have reduced problem loans and significantly improved credit quality at the bank, which has assets of $38 million.

© 2003 American City Business Journals Inc.