Press Release

Avidbank Expands Its Venture Lending Division

Company Release - 4/11/2019 6:00 AM ET

SAN JOSE, Calif.--(BUSINESS WIRE)-- Avidbank Holdings, Inc., (OTC Pink: AVBH), a bank holding company and the parent company of Avidbank, announced today that four venture lending professionals have joined the Bank.

Teaming up with Executive Vice President and Division Manager, Sam Bhaumik, and Senior Vice President, Northeast Regional Manager, Bob Foley, are industry veterans Randy Churchill, Porter McKay, Mike Berrier and Holly Hayes.

Randy Churchill brings a unique blend of experience to his new role as Senior Vice President, Southwest Regional Manager. Mr. Churchill comes to Avidbank from Square 1 Bank, where he served as Managing Director, Technology Banking. His background includes leadership positions with Cooley LLP and PricewaterhouseCoopers, in addition to roles of increasing responsibility in the law and financial services industries. Mr. Churchill holds a Bachelor of Business Administration from Western Michigan University and a Doctor of Jurisprudence degree from Indiana University School of Law.

Porter McKay, also from Square 1 where he managed technology banking relationships in both the Bay Area and Southern California, joins Avidbank as Senior Vice President. His previous experience includes wealth management at Merrill Lynch. Mr. McKay earned a Bachelor of Arts degree in Psychology from Denison University.

Mike Berrier joins Avidbank as Senior Vice President, Senior Credit Officer for the Venture Lending Division. With over 35 years of experience in commercial banking, Mr. Berrier has worked with traditional middle market companies, as well as technology, life sciences and venture capital firms. Mr. Berrier comes to Avidbank from the Banc of California. His career also includes regional/risk management roles at Comerica Bank and Square 1 Bank, where he was a co-founder. Mr. Berrier studied at the University of Southern California, earning a Bachelor of Arts in English and finishing his first novel before graduation.

Holly Hayes joins Avidbank as Vice President. Her previous experience includes technology and venture capital banking at City National Bank, Square 1 Bank and Comerica Bank. Ms. Hayes studied at Saint Mary’s College graduating with a Bachelor of Science in Business Administration, Marketing and Honors Financial Services, Summa Cum Laude.

“This planned expansion furthers our strategy to offer a comprehensive banking experience in the venture and technology lending space,” stated Chairman & CEO, Mark D. Mordell. “We are fortunate to have attracted these high caliber individuals, and are enthusiastic about them joining our team and our cause.”

About Avidbank

Avidbank Holdings, Inc. (OTC Pink: AVBH), headquartered in San Jose, California, offers innovative financial solutions and services. We specialize in commercial & industrial lending, venture lending, asset-based lending, sponsor finance, real estate construction and commercial real estate lending. Avidbank provides a different approach to banking. We do what we say.

Steve Leen, Chief Financial Officer
(408) 831-5653

Source: Avidbank Holdings, Inc.