Seacoast Commerce Bank Announces Addition of David Bartram to Lead SBA Division.
Mr. Bartram, a 25-year veteran of banking and SBA lending, began his career at Bank of Commerce in 1984 where he rose to Chief Operating Officer. Under Bartram's leadership, the SBA program at Bank of Commerce grew to become the largest SBA lender in the Nation in the 1990s. Bank of Commerce sold to US Bank in 1999 for five times book value. Bartram continued on with US Bank, as President of the SBA Division, and successfully grew the SBA Division from 1999 through 2007, establishing operations in 25 states, and helping over 7,000 clients obtain $2 Billion in SBA loans. Bartram also served for three years as chairman for the National Association of Government Guaranteed Lenders, a trade association representing lenders that participate in the SBA Program.
The U.S. Small Business Administration was created in 1953 as an independent agency of the federal government to aid, counsel, assist and protect the interests of small business concerns, and to maintain and strengthen the overall economy of our nation. Loans originated under the SBA program are eligible for government guarantees up to 90% of the principal balance.
Richard M. Sanborn, President & Chief Executive Officer, commented, "Dave brings a level of SBA and banking knowledge like no other, and an ability to build a team of top-talent." Sanborn concluded, "His deep rooted history in the SBA industry and extraordinary track-record of building a successful and profitable operation is undeniable."
Allan W. Arendsee, Chairman of the Board, stated, "We are thrilled to have Dave join us and we know he will be a significant contributor to our overall success." Arendsee concluded, "The SBA program provides a significant benefit to businesses, and has been a key supported government program in returning our economy to a healthy state."
Seacoast Commerce Bank is a business bank operating in Southern California. For more information on the bank please visit our website at www.sccombank.com or contact Richard M. Sanborn, President and Chief Executive Officer, at 619-409-5762.
Certain statements in this press release, including statements regarding the anticipated development and expansion of the Bank's business, and the intent, belief or current expectations of the Bank, its directors or its officers, are "forward-looking" statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such "forward-looking" statements. These risks and uncertainties include, but are not limited to, risks related to the local and national economy, the Bank's performance and regulatory matters.
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|Date:||Jul 20, 2009|
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