Bankers: Regulatory expansion will drive industry consolidation

[caption id="attachment_36224" align="alignright" width="317" caption="Russ Colombo, Ray Byrne, Bill Schrader"][/caption]

SANTA ROSA -- The high cost of complying with burgeoning regulation will be the cause of even more bank consolidation than has occurred as a result of the recession, experts say.

Since mid-2008, what most would call the beginning of the banking crisis, the North Bay has lost 30 percent of its locally based banks.

Tamalpais Bank, Sonoma Valley Bank and Charter Oak Bank were shut down by regulators. Napa Community Bank was sold to Rabobank.

“Obviously, there have been a couple of failures in the market,” said Russell Colombo, president and chief executive officer of Bank of Marin. “There were none in these markets for many years.”

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