Novato Exec Steps Down

NOVATO, CA — A top Marin finance executive will soon be stepping down.

Bank of Marin and Bank of Marin Bancorp CEO Russell A. Colombo announced his retirement from the Novato-based company Friday.

Colombo’s retirement is effective Oct. 31, Bank of Marin said in a news release.

Current President and COO Tim Myers will take over for Colombo as the company's new CEO Nov. 1.

Colombo, who served as the company’s CEO for 15 years, will remain on the boards of Bancorp and the Bank and Myers will join both Boards, the company said.

Colombo was praised for providing “exceptional leadership,” Bank of Marin Bancorp Chairman of the Board Brian Sobel said in a statement.

“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,” Sobel said.

“With Russ at the helm, we benefited from both organic growth and 4 strategic acquisitions, expanding our footprint from 2 counties to 10, and increasing our branch network from 9 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.”

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.

By 2013, Myers was named senior vice president, head of commercial banking and in 2015, he was named executive vice president.

Myers was named COO 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 in a statement.

“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.”