Avidbank Expands into San Jose

Avidbank in Palo Alto, Calif., will open a loan production office in downtown San Jose next week.

The office will be led by Dori Hamilton, executive vice president in the corporate banking division, the $340 million-asset company said Friday. Avidbank currently has one branch that serves the San Mateo and Santa Clara counties.

Avidbank, the banking unit for Avidbank Holdings, changed its name last year from the Private Bank of the Peninsula to reflect its expansion into commercial banking and asset-based lending.

"We are excited to expand our market presence with this new office in San Jose," Mark D. Mordell, chairman and chief executive of Avidbank, said in a news release. "San Jose is such an important component of Silicon Valley. Expanding with the right team in the South Bay market is critical to our organic growth strategy."