Bank of Marin on Monday reported the resignation of James S. Kimball, the Novato-based institution’s executive vice president and chief operating officer.
President and Chief Executive Officer of Bank of Marin and Bank of Marin Bancorp Russell A. Colombo said Tuesday Kimball’s departure “wasn’t really part of a long term plan,” adding the departure “does not affect our long term business planning or strategy.” He added: “We are confident we are going to continue on the same course as we’ve been and will achieve the same goals that we’ve established.”
Kimball’s resignation was effective June 19, according to the filing by Bank of Marin’s parent company, Bank of Marin Bancorp, with the U.S. Securities and Exchange Commission.
“The resignation of Mr. Kimball is not the result of any disagreement with the Company relating to its operations, policies or practices,” said the filing, signed by Tani Girton, executive vice president and chief financial officer.
Colombo said Tuesday that Kimball, “resigned to pursue other interests,” adding “We don’t know what those are.” He also praised Kimball’s skill as a banker and a leader, adding, “we wish him well.”
Colombo also said those previously reporting to Kimball now reported to him, as was the case before Kimball’s hiring. He said no replacement had been identified.
Kimball, 54, joined the company as operations chief in October 2017 from Wells Fargo, where he was senior vice president and head of the North Coast regional commercial banking office and wine industry specialty group. He has about 30 years of commercial banking experience that also includes regional president of Northern California and Nevada for Wachovia Bank and over two decades with Bank of America.
His total compensation in fiscal 2018 was $633,968, including a $325,000 base salary, according to the April proxy filing.
Note: this article was updated with comments from Colombo