Seacoast Commerce Bank has hired its first chief banking officer, longtime banker Ernesto M. Arredondo Jr.
The announcement, made Oct. 17, comes less than a month after Seacoast Commerce Banc Holdings, Seacoast’s parent company, acquired Capital Bank, a commercial bank based in Orange County’s San Juan Capistrano.
Arredondo joins Seacoast from Wells Fargo & Co., where he served as the bank’s San Diego area president. At Wells, Arredondo Jr. oversaw nearly 1,000 employees at more than 55 bank offices with $6 billion in deposits and $2 billion in loans, according to Seacoast. Arredondo Jr., who is active in the community, has been chairman of the San Diego Regional Chamber of Commerce since April of 2016.
“(Arredondo Jr.’s) expertise in market growth, franchise expansion, customer acquisition, technology enhancements, and specialty banking will help guide our new banking platform, which includes our recently completed acquisition of Capital Bank,” said Richard M. Sanborn, Seacoast’s president and chief executive officer.
In addition to its San Diego headquarters, Seacoast has banking branches in Encinitas, National City and San Juan Capistrano. The bank has loan production offices in California, Arizona, Colorado, Oregon, Nevada, Texas and the state of Washington.
Shares of the bank holding company, which has a market capitalization of about $118 million, trade over the counter under the symbol SCBH.