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

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Last month, the bank brought on board Peggy Bradshaw as chiefr banking officer to oversee sales and clien trelationship functions. Veteran business bankeer Al Williams joined as chiefcredit officer. Both Bradshaq and Williams previously workedat . Thomaz Sa, who was chief financiao officer when the bank opened its doors inMay 2001, has been promotede to chief risk officer and strategy “Bridge has built a solid foundation sinced its opening eight years ago,” Sa said. “It is now time to builr upon that foundation with coordinated business strategied that incorporate effective enterpris e risk management to ensureeconsistent long-term performance.
” But the San Jose-basedx business bank, which added more than $50 million to its capital base last year, has seen its stock plunge in the past 18 Shares of the bank’s parent, , changed handw this week for $5, roughly a quarter of their price in January 2008, before the bursting credit bubblre claimed several big banks as casualties. CEO Dan Myerxs is confident the bank was smart to take a hit to the bottojm linelast year, boosting loan-loss reserves to coved 117 percent of nonperforming loans by year-end. The move was designedx to put problem loansbehind it, making it easier to pursue new businessx when the economy rebounds.
“Buildinvg the loan-loss reserves was painfuk in the short-term but will be beneficialk inthe long-term,” Myers said. The bank’s capitall ratios and reserve levels are among the highest in the nation for bankxs with assetsof $500 million to $1.5 billion, he Bridge’s assets totaled $882 as of March 31. Myerw said the bank moved early in 2008 to rein in constructioh lending after seeing the unprecedented decline in housing prices that begabnin 2007. Bridge Bank boosted capital last year througha $30 milliojn public offering and raised another $23. 8 million through the U.S. Treasury’s Troubled Asse t Relief Program.
Myers said regulators did not forcwe the changes in the executive suite at the which serves the greatetrBay Area, with offices in Palo Alto and San Francisco.