ASH PATEL
CHAIRMAN/CEO
COMMERCIAL BANK OF CALIFORNIA
WHY: Since taking over bank in 2013, has grown assets from $190M to more than $3.7B with a goal of $5B. Was fastest growing on Business Journal’s annual list for large private companies, 79% growth over 2-year period to $202M.
IN THE NEWS: Expanded into Northern California with the purchase of Oakland-based Bay Community Bancorp, which adds $1B in assets.
NOTABLE: Bank has deep pockets for future acquisitions because owner Alex Meruelo last year sold his Arizona Coyotes hockey league franchise for reported $1.2B.
QUOTABLE: About purchase of Bay Community Bank: “We are paying less than book value. It looked like I didn’t know what I was doing when it was announced. Now I look like a genius.”
FUN FACT: Favorite OC restaurant is Gulfstream, which he says “is a classic.”
