Bank of Commerce Holdings (BOCH) in Redding, Calif., has elected two directors after the death of its chairman.
The $979 million-asset company said Thursday that Lyle Tullis will become the chairman and Jon Halfhide will serve as vice chairman. Tullis succeeds Ken Gifford, who died earlier this month, according to a report in the Redding Record Searchlight.
Tullis, a director since 2003, had been the company's vice chairman. Halfhide, a director since 2006, chairs the executive compensation committee.
"The board's announcement today is made with heavy hearts as it follows the recent passing of our beloved and respected chairman," Patrick Moty, the company's president and chief executive, said in a press release. Gifford "has left us with standards of excellence that [Tullis and Halfhide] have committed to uphold and maintain."
Bank of Commerce sold its mortgage unit last fall.