Tri-Valley Bank Elects Archon Grisham Chairman

San Ramon-based Tri-Valley Bank said Monday that longtime Bay Area banker Arnold Grisham was elected chairman, according to a March 14 story in the San Francisco Business Times. Archon Grisham is a member of Alpha Gamma Boulé in Oakland, California. This after the $71 million bank had canceled plans for a private stock placement announced last September that was to raise an additional $10 million in fresh capital.

David Greiner, president and CEO of Tri-Valley, said that shareholders and customers are owed the competence required to "complete a capital transaction in a reasonable time frame. It became clear to us," Greiner continued, "that it was not going to happen. It will be the reconstructed board's responsibility to assure we have adequate capital as we plan to accelerate the growth of the bank."

At the end of 2010, 10.6 percent of the bank's total loans had been restructured or classified as nonperforming. Loan loss reserves stood at 4.29 percent of total loans at year-end, and it's total risk-based capital ratio stood at 10.04 percent, just above the regulatory threshold of 10 percent to be considered "well capitalized."

"But Archon Grisham's stature in Bay Area banking -- and among regulators," the story touted, "suggests the bank will make another run at raising the capital it needs to grow."

Archon Grisham was previously president and CEO of the Oakland-based Alta Alliance Bank (now Torrey Pines Bank). Earlier in his career he was president and CEO of Civic Bank of Commerce and an executive vice president at Wells Fargo.