Boston Private Financial Holdings is expanding its footprint in California.
The $7.3 billion-asset company announced Monday that it will open an office in Los Angeles on June 1. With the additional location, Boston Private will have 35 offices nationwide, including 14 on the West Coast.
The new facility will house the company's West Coast commercial lending and community investment teams.
"Besides better positioning us to reach local businesses and new home buyers, this location will expand opportunity to finance commercial properties that create or preserve affordable housing options, generate jobs and economic development, and promote the work of nonprofits engaged in human and social service initiatives," Esther Schlorholtz, director of community investment at Boston Private, said in a news release.
Last month, Boston Private appointed George Schwartz, president of subsidiary Boston Private Bank & Trust, to chief executive of its private banking group. In the newly created post, Schwartz will oversee the bank's commercial lending and residential mortgage divisions.