More than a year following its chief executive's departure, Pacific Commerce Bank in Los Angeles has found someone to take the helm.
The $162 million-asset bank announced Thursday it has hired Scott R. Andrews as its new CEO. Andrews was previously the head of the $292 million-asset Sunrise Bank in San Diego, which its owner, Capitol Bancorp, sold to AmericanWest Bank of Spokane, Wash., in 2011 for $18.5 million.
Andrews also served California regional president for Lansing, Mich.-based Capitol Bancorp and executive vice president for First National Bank in San Diego.
In a press release, Pacific Commerce Chairman Thomas Iino said Anderson will "move the bank to the next level."
"With a solid balance sheet and capital base we are now poised to grow both organically and strategically," Iino said.
The decade-old bank is overly capitalized; at the end of the first quarter, its total risk-based capital ratio was 19.08%.
In April 2011, the bank announced that Brian Kelly, who had served as CEO for five years, was leaving the bank to return to practicing law. The bank said an executive team of directors and senior executives would manage the bank until it found a replacement.