Russell A. Colombo, CEO of Bank of Marin and Bank of Marin Bancorp, will retire on Oct. 31. The board of directors of Bank of Marin Bancorp, parent company of Bank of Marin, named Tim Myers, currently president and chief operating officer, Colombo’s successor. Myers will assume the role on Nov. 1. Colombo will remain on the boards of the bancorp and the bank, while Myers will join both boards.
“Russ Colombo provided exceptional leadership throughout his 15 years as CEO, growing the bank’s assets from $877 million to over $4 billion and the market cap from $177 million to $596 million,” Brian Sobel, chairman of the board of Bank of Marin Bancorp, said. “With Russ at the helm, we benefited from both organic growth and four strategic acquisitions, expanding our footprint from two counties to 10 and increasing our branch network from nine locations in 2006 to 31 this year. The board would also like to extend our sincere appreciation for his selflessness in delaying his retirement to ensure management stability during the pandemic.
“We are pleased that Tim Myers will be stepping in to succeed Russ as Bank of Marin’s next CEO. Tim understands and embodies the mission, culture and values that have helped drive Bank of Marin to more than 30 years of growth and expansion. My fellow directors and I are confident he is well suited to lead the bank in delivering strong performance for all of our stakeholders.”
Myers’ 25-year career in financial services includes experience in small business, middle-market and corporate banking, primarily in the San Francisco Bay Area. He joined Bank of Marin in April 2007 to start the San Francisco commercial banking office. Within six years, in 2013, Myers was named senior vice president and head of commercial banking. Then, in 2015, he assumed the title of executive vice president. He was named chief operating officer in June 2020 and was promoted to president in May 2021.
“I couldn’t be more delighted that Tim has been named my successor,” Colombo said. “Consistent leadership is more important than ever and Tim has been an indispensable member of the management team at Bank of Marin for many years. Most recently, he has proven his ability to lead in an ever-changing environment. Tim brings a wealth of institutional knowledge and a strong commitment to the culture that has helped make the bank successful. That experience, along with a deep understanding of our customers, will be an invaluable resource as he drives Bank of Marin to continued growth and positive results.”
“I am honored to be appointed CEO of this outstanding bank and look forward to leading such a committed and talented team of bankers,” Myers said. “Together, we will maintain the bank’s unique culture and build upon its proud history as we work to deliver sustainable growth in the years ahead.”
