Bank of Marin Bancorp (BMRC) in Novato, Calif., has named a new chairman.
The $1.7 billion-asset company said Tuesday that Stuart Lum will lead the boards of the holding company and its bank beginning on Jan. 1. He will replace Joel Sklar, who will remain a director.
Lum, 60, has been a director since 1999 and has been chair of the audit committee since 2005. He is the chief executive of Edgewood Pacific, a private equity company.
Lum "has been very engaged in all significant areas of the board, and brings a keen eye for details as well as a strategic mindset which will serve the bank and our shareholders well as we move forward," said Bank of Marin Chief Executive Russell Colombo in the news release.
Sklar, 63, has been chairman since 2007, and has served on the board since its inception in 1989. He is a cardiologist, as well as chief medical officer at Marin General Hospital in California.
Earlier this month, Bank of Marin acquired NorCal Community Bancorp in Alameda, Calif., for $34.5 million.