Daily News: August 10, 2012

Bridge Bank Launches New Capital Finance Division

Bridge Capital announced the creation of its Capital Finance Division, previously known as the Bridge Capital Finance Group (BCFG), to serve the bank’s expanding national client base.

“We’re very pleased with the growth and performance of our asset-based lending portfolio,” said Daniel P. Myers, president and chief executive officer of Bridge Bank. “The formation of our new Capital Finance Division is the natural next step as the bank continues to satisfy more market demand for these specialized credit products.” The bank’s capital finance group was formed in 2002, and until recently was structured under the bank’s Technology Banking Division. It has grown to over $200 million in loans outstanding, and currently serves a wide variety of clients across multiple business sectors.

Leading the new division will be Lee Shodiss, who was promoted to executive vice president and manager of the new Capital Finance Division. “Over the past decade, Lee and his team have done a superior job of understanding and fulfilling the needs of our clients,” said Peggy Bradshaw, executive vice president and chief banking officer of Bridge Bank, “and we’re excited to see his role at the bank evolve as we look to further expand our capital finance services.”

Shodiss joined Bridge Bank in 2002 as senior portfolio manager in the Bridge Capital Finance Group, and was subsequently promoted to group manager in 2005. Prior to joining Bridge Bank, Shodiss was senior vice president in Silicon Valley Bank’s Specialty Finance Division. “We have an incredible market opportunity, valued in excess of $100 billion,” said Shodiss. “We’re now well positioned to meet the changing needs of mid-market companies, and I’m very excited to lead the Capital Finance Division in this effort,” said Shodiss.

Also being promoted is Larry LaCroix, now senior vice president and group manager in the bank’s Capital Finance Division. LaCroix joined Bridge Bank in 2008 as a team leader. Previously, he was with Sun Trust Bank as a division manager for the factoring product. “I’m thrilled to have the opportunity to continue contributing to Bridge Bank’s expansion strategy,” said LaCroix. “The bank has proven its ability to increase its capital finance portfolio in a consistent and disciplined way, and I look forward to identifying other areas for growth including new product development and continued geographic expansion.

Bridge Bank’s Capital Finance Division provides small- and mid-market companies with customized financial services for each stage of the growth cycle, from inception through IPO. Its products include asset-based lending, vendor assurance, factoring and purchase order financing. Most recently, the bank expanded its capital finance presence to the Southeast region, adding to its existing presence in Boston, Reston, Dallas and the Bay Area.