Bank of Marin CEO to retire in October

Bank of Marin Bancorp in Novato, Calif., will have a new CEO in November.

The $4 billion-asset company said in a press release Friday that Tim Myers, its president and chief operating officer, will succeed Russell Colombo, who is retiring on Oct. 31. Myers will also join the company’s board.

Colombo has been CEO for 15 years. Myers joined Bank of Marin in 2007.

“With Russ at the helm, we benefited from both organic growth and four strategic acquisitions, expanding our footprint from two counties to 10 and increasing our branch network from nine locations in 2006 to 31 this year,” Brian Sobel, the company’s chairman, said in the release.

"The board would also like to extend our sincere appreciation for his selflessness in delaying his retirement to ensure management stability during the pandemic,” Sobel added.

The company announced two years ago that it had hired a search firm to find a successor for Columbo. It disclosed in July 2020 that Columbo "had committed to remaining on the job as long as needed."