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Californian Private Bank Rebrands With New Name
Harriet Davies
28 March 2011
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.