Avidbank Announces Strategic Management Changes

Avidbank (“the Bank”), an independent full-service commercial bank serving businesses and consumers in Northern California, announced today that its President and Board Member, Kenneth D. Brenner has assumed a new position as Head of Strategic Relationships and will continue to serve on the Board.

The Bank also announced that Executive Vice President and Chief Credit Officer, Ronald E. Oliveira, has been promoted to President and will remain Chief Credit Officer. Dori Hamilton, Executive Vice President and Division Manager of Corporate Banking, has taken on the additional role of Chief Banking Officer.

“These strategic changes have been in the works for some time,” stated Mark D. Mordell, Chairman and Chief Executive Officer. “The Board has been focused on building the right platform for our Bank to grow in our marketplace. This involved hiring proven executives to give us ‘bench strength’ for proper succession planning, as well as successfully completing our institutional capital raise in June. It has been a very busy year for us, and we are excited to have these three professionals in key influential roles to advance the Bank’s mission.”

Mordell added, “Ken was the first hire when we began to restructure our management team in 2006, and we would not be where we are today without Ken’s energy and network. I am pleased that he will continue with us in his new position, as well as serving on the Board.”

“I am proud of what we have accomplished over the years and am excited to pass the torch to someone as qualified as Ron,” Mr. Brenner said. “I am not going anywhere, and I look forward to continuing my contributions as a Board member and in my new role as Head of Strategic Relationships.”

Mordell also stated, “Ron has both small and large bank experience – not only in credit, but in leadership and operations as well. His significant contributions to-date have been made at many levels and will continue in the future with his expanded role.”

In response to Dori Hamilton’s additional responsibilities, Mordell added, “There is no one who better epitomizes Avidbank’s commitment to clients, and the sense of urgency and competitiveness required to win deals, than Dori. A proven ‘go to’ person for many of our bankers across the organization, Dori will continue to add great value in her new role.”

About Avidbank

Avidbank Holdings, Inc., headquartered in Palo Alto, California, offers innovative financial solutions and services. We specialize in the following markets: commercial & industrial, corporate finance, asset-based lending, real estate construction and commercial real estate lending, and real estate bridge financing. Avidbank advances the success of our clients by providing them with financial opportunities and serving them as we wish to be served – with mutual effort, ingenuity and trust – creating long-term banking relationships.

Avidbank Holdings, Inc.Steve Leen, 650-843-2204Chief Financial Officerwww.avidbank.com

Avidbank (PK) (USOTC:AVBH)
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