Upcoming CFO Transition at Bank of Marin Bancorp Signals Change

Leadership Change at Bank of Marin Bancorp

Bank of Marin Bancorp (Nasdaq: BMRC) has recently announced a significant leadership transition with the upcoming retirement of Chief Financial Officer Tani Girton. After over 11 years in her role, Girton will officially retire on January 31, 2025. She will work closely with her successor, Dave Bonaccorso, during a planned transition period to ensure continuity and stability for the bank. Bonaccorso, who currently serves as the Bank's treasurer, will step into the Chief Financial Officer and Principal Accounting Officer roles starting January 2, 2025.

Recognizing Tani Girton's Contributions

The appreciation for Tani's contributions to Bank of Marin's growth has been profound. Tim Myers, the President and CEO, highlighted her leadership qualities and dedication to fostering a financially sound institution. Under Girton’s guidance, the Finance, Audit, Compliance, and Treasury teams have been established with a focus on operational efficiency and long-term success. Myers stated, "We wish her the very best in her retirement and all her future endeavors.”

Introducing Dave Bonaccorso

Bonaccorso brings nearly three decades of experience in the financial sector. Having joined Bank of Marin in August 2023, he previously served as treasurer for prominent institutions like Rabobank, N.A., and Mechanics Bank. With significant responsibilities managing large asset bases of almost $20 billion, he is well-equipped to step into this larger role. His educational background includes degrees in business administration and philosophy from the University of Southern California, along with a master’s in accountancy from the University of Illinois, complemented by his Chartered Financial Analyst designation.

Bonaccorso's Vision for the Future

Upon his appointment, Bonaccorso expressed his excitement about this new role, stating, "I’m thrilled to serve the Bank and our stakeholders in this new capacity. I look forward to working with our entire leadership team and talented staff as we continue to deliver growth, operational excellence, and shareholder returns in the future." His commitment to the bank’s mission indicates a dedication to furthering its legacy while navigating future challenges.

Strengthening Risk Management

In conjunction with this leadership transition, Bank of Marin is actively enhancing its risk management and oversight functions. David Merck has been appointed as the Director of Audit, Compliance, and Risk — a new position that underscores the Bank's commitment to governance and regulatory compliance. Merck, who joined the bank in 2015 as an accounting policy manager, has held various positions of increasing responsibility and will report directly to Myers after Girton's retirement.

About Bank of Marin Bancorp

Founded in 1990 and headquartered in Novato, Bank of Marin Bancorp (Nasdaq: BMRC) is a well-established business and community bank with an asset portfolio of $3.8 billion. The institution provides a wide array of services, including commercial and personal banking, specialty lending, and wealth management, through its network of 27 branches across Northern California. The bank is widely recognized for its community contributions, consistently ranked as one of the top corporate philanthropists in its market. With an ongoing commitment to exceptional customer service and community investment, the leadership transition at Bank of Marin is poised to maintain that legacy and foster future expansion.

Frequently Asked Questions

Who is the new CFO of Bank of Marin Bancorp?

Dave Bonaccorso has been named the new CFO, effective January 2, 2025.

What is the reason for Tani Girton's retirement?

Tani Girton is retiring after a successful tenure of over 11 years to pursue other opportunities.

What previous experience does Dave Bonaccorso bring to his new role?

Bonaccorso has nearly 30 years of experience and comes from roles at Rabobank and Mechanics Bank, among others.

How will the transition affect Bank of Marin Bancorp?

The transition is designed to ensure stability and continuity, with Bonaccorso working closely with Girton ahead of her departure.

What changes are being made to risk management at the bank?

The bank has created a new role focused on Audit, Compliance, and Risk, appointing David Merck to enhance risk management functions.

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