California Bank of Commerce Adds Financing for Dental, Medical Practices

In order to expand their reach and depth, California Bank of Commerce has created a new group dedicated to Dental and Medical practice financing. The Bank hired Jamie Smith as Senior Vice President and Amy Maguddatu as Professional Services Officer to launch the Bank’s efforts to expand into the dental and medical financing arena, particularly those professionals seeking to acquire or expand their practice.

John Rossell, President and CEO of the bank said “Jamie Smith and Amy Maguddatu are specialists in financing the expansion or acquisition of medical, dental and veterinary practices. They are a team with a superior reputation in the professional services community.”

Jamie Smith began specializing in dental practice financing in 2002 while at Solano Bank. Later, in 2005, Smith formed a banking group dedicated to serving the needs of dental professionals. “After assisting several dentists with transition financing, I realized that many of these professionals were missing a like-minded professional banking relationship. Most private and commercial bankers don’t understand or don’t appreciate the potential of these professionals,” said Smith. Smith recently joined California Bank of Commerce (CBC) after California Oaks Bank was acquired. “I have been following CBC since its inception. I am proud that CBC has decided to make a significant, long term commitment to banking the dental and medical practice community,” said Smith.

Amy Maguddatu has worked with Smith since 2005 focusing on developing relationships with dentists and other medical professionals. “In addition to adding to the Bank’s expertise in transition financing for dentist, Amy brings a wealth of cash management and personal banking support to CBC,” said Rossell. Prior to joining California Bank of Commerce, Amy held similar positions at California Oaks Bank, Solano Bank, and Civic Bank of Commerce.