Palo Alto, California-based
The Private Bank of the Peninsula has changed its name to Avidbank, and will begin operating under its new brand as of 1 April 2011.

The firm offers banking services to businesses, entrepreneurs, non-profit organizations and individuals in the greater San Francisco Bay Area.

Last year it made net income of $2.2 million, having made a profit for six consecutive quarters by the year-end. In 2009 however it still recorded a loss of $559,000, due to the performance in the first half of the year.