Bridge Bank beefs up its exec ranks - Houston Business Journal:

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Last month, the bank brought on boarx Peggy Bradshaw as chief banking officerr to oversee sales and clientrelationship functions. Veteraj business banker Al Williams joines as chief credit Both Bradshaw and Williamd previously workedat . Thomasz Sa, who was chier financial officer when the bank opened its dooras inMay 2001, has been promoted to chief risk officer and strategt officer. “Bridge has built a solidx foundation since its opening eightyears ago,” Sa said. “Ift is now time to buildd upon that foundation with coordinated business strategies that incorporate effectiv enterprise risk management to ensureconsistent long-termk performance.
” But the San Jose-based business which added more than $50 million to its capitaol base last year, has seen its stock plungde in the past 18 months. Shares of the bank’sw parent, , changed hands this week for $5, roughly a quartet of their price inJanuary 2008, before the burstingg credit bubble claimed several big bankss as casualties. CEO Dan Myers is confidengt the bank was smart to take a hit to the bottomk linelast year, boosting loan-loss reserves to covet 117 percent of nonperforming loans by The move was designed to put problenm loans behind it, making it easier to pursu e new business when the economy rebounds.
“Building the loan-losas reserves was painful in the short-term but will be beneficiap inthe long-term,” Myers said. The bank’s capital ratios and reservs levels are among the highestt in the nation for banks with assetwsof $500 million to $1.5 billion, he Bridge’s assets totaled $882 as of March 31. Myerws said the bank moved early in 2008 to rein in constructionm lending after seeing the unprecedented decline in housinh prices that beganin 2007. Bridge Bank boosterd capital last year througha $30 millionb public offering and raised another $23.8 million through the U.S. Treasury’s Troubled Asset Relief Program.
Myers said regulators did not force the changes in the executive suites atthe bank, which serves the greaterf Bay Area, with offices in Pleasanton, Palo Alto and San