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A fifth of the financial institutions that participated in the Small Business Lending Fund have fully left the program and an increasing number of banks are joining them before the dividend rate jumps to 9% next year.
July 22 -
CoBiz Financial in Denver has added the owner, chairman and chief executive of the Colorado Rockies baseball franchise to its board.
July 17 -
CoBiz Financial in Denver plans to issue up subordinated debt to redeem its shares in the Small Business Lending Fund.
June 22
CoBiz Financial's bank chairman, Jonathan Lorenz, will retire in December.
The $3.2 billion-asset company
Lorenz joined the Denver company in 1994 and also served as CEO of CoBiz's banking franchise. He was previously manager of corporate banking at Colorado National Bank.
In July, CoBiz increased its board to 12 members from 11 and named Colorado Rockies owner Richard Monfort to take the new seat. CoBiz in June issued subordinated debt, to finance its exit from the Small Business Lending Fund.
