CalPrivate Bank Announces Two New Small Business Lending Divisions

Private Bancorp of America, Inc. announced today that its wholly owned subsidiary CalPrivate Bank, “Bank”, has established two separate Small Business Lending channels, utilizing the Small Business Administration’s full suite of products. “We are fortunate to have had the opportunity to put together such a veteran group of professionals to grow our SBA business,” Thomas V. Wornham, President & CEO of PBAM said. “Our SBA Team includes the addition of 14 new hires this year. This includes Managers, Producers, Underwriters and Processers. The relationship banking channel is headed up by Rob Pedersen, SVP and SBA Division Head and our Private Business Capital is headed up by Steve Pollett, SVP, and Division Manager.” Wornham, who also serves as CEO of the Bank, noted “our enhanced SBA Team has exceeded our expectations for new loan production of 7a and 504 loans in the first quarter with us, and we look forward to continued success.” CalPrivate remains a SBA Preferred Lender using its CalPrivate Bank branch network and the Bank’s Private Business Capital Division will primarily service our broker and financial partner network.