Larry LaCroix named Executive Vice President and Manager of Sponsor Finance
OAKLAND, Calif. (April 6, 2020)— California Bank of Commerce (CBC) announces the launch of its Sponsor Finance Lending Division, led by well-known dealmaker Larry LaCroix.
The division works closely with private equity firms (including Search Funds) and direct lenders to provide cash flow-based senior debt financing.
“We’re pleased to not only announce this new division but, also excited to have Larry join our team,” said Steve Shelton, President and Chief Executive Officer of California Bank of Commerce. “His leadership and background in Sponsor Finance position the bank for continued success.”
In moving into the area of Sponsor Funding on a national level, CBC selected LaCroix and named him an Executive Vice President as well as manager of the new program. LaCroix is a veteran leader in the finance industry, having served as Executive Vice President and Specialty Finance Division Manager at Avidbank, Senior Vice President and Group Manager at Bridge Bank and Senior Vice President and Receivables Capital Management Division Manager at SunTrust. He also has served as Chief Executive Officer of CeltSoft and as Chief Executive Officer and founder at CS Capital Solutions.
The Sponsor Finance Division will support buyouts/acquisitions, recapitalizations, refinancing and growth capital for companies in a variety of industries. CBC Sponsor Finance works with businesses with professional backing providing capital with flexible structures.
California BanCorp (NASDAQ:CALB) is the holding company for CBC.
About California BanCorp and California Bank of Commerce
California BanCorp, through its wholly-owned subsidiary, California Bank of Commerce, offers a broad range of commercial banking services to closely held businesses and professionals located throughout Northern California. The stock of its parent company, California BanCorp, trades on the NASDAQ marketplace under the symbol CALB. For more information on California BanCorp and California Bank of Commerce, call us at (510) 457-3751, or visit us at www.californiabankofcommerce.com.
Contact California Bank of Commerce
Steven E. Shelton, (510) 457-3751
President and Chief Executive Officer
Thomas A. Sa, (510) 457-3775
Senior Executive Vice President
Chief Financial Officer and
Chief Operating Officer
Larry LaCroix, (510) 457-3750
Executive Vice President, Manager Sponsor Finance
Caitie Nolan, (925) 790-2748
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