S.F. bank heads downtown with a veteran exec team - San Francisco Business Times:

Alen AMS09
The bank is being launched with , which will own 51 percentf of Bank of San Capitol is a community bank developmeng company that findspromising markets, hires veteram bankers in the area and attractw minority shareholders who are likely to be bought out in threes years for 1.5 times book Bank of San Francisco has a veteran team of bankerse whose résumés read like a family tree of Bay Area stretching back to (both acquired by ) as well as and its predecessort institution, .
Earlier this year, Bank of San Franciscl brought on board Ed Obuchowski from City National Bank to serve as Unlike manyof Capitol's other community banks, Bank of San Francisco will focus solely on businessz banking and private banking, leaving retail banking to Wellss Fargo, and others. The bank, which is stillk awaiting final regulatory approval tobegin business, will be headquartere d in 6,400 square feet located on the 24th floor of 575 Markef St. in San Francisco.
The board of the proposed institutio includesJames Dobberstein, director and principal of the San Francisco accounting firm ; Arthu Evans, chairman of ; Herbertr Foster, former CEO of Oakland-based CivicBank of Commerce; Susanm Morse, client adviser at ; Georg e Vukasin Jr., executive vice presidentf of ; Joseph Reid, chairman and CEO of Capitoll Bancorp; Scott Andrews, president of the Californiaw region at Capitol; and Reid will serve as chairman of Bank of San Senior executives at Bank of San Franciscko include Ray Brown, executive vice president and chiefv credit officer, who previously worked at City Nationalk and First Interstate; Wendy Ross, senior vice president, who previouslty worked at Greater Bay's Golden Gate Bank in San Francisco; Ike Ogata, senio vice president, who previously workedd at and Sumitomo Bank in Northern California; and Ed senior vice president, who was also with CivicBank.
The proposeed Bank of San Francisco is still raising monehfrom investors, but has expressions of interest that exceed the maximuj $10 million it plans to Minimum investment is $1,000. Capitol has builty a network of 34 bankzs in nine states overthe years. But its strategy has criticzs who say the minority shareholders take all the risk but have theif returns cappedat 1.5 times book Capitol says minority shareholders benefit from the buyout by exchanginvg thinly traded shares in a community bank for Capitol's more dividend-paying stock. Capitol has a controversial tender offefr under way to acquire the sharesit doesn't own in .
The Bank of San Francisck is successfully tapping investor enthusiasm forcommunity banks. "The numbers speak for said Obuchowski, who says one of his challengeds is enforcingthe bank's $250,00o maximum investment with prospective investors so therer are shares available for others. "We look forwar d to providing an extraordinary level of service to our who will consist ofsmall business, entrepreneurs, professionald and their families," he said.