Five Star Bancorp in Rancho Cordova, Calif., will enter San Francisco after hiring a commercial team from Signature Bank.
The $3.4 billion-asset company said in a press release that DJ Kurtze will serve as region president for the San Francisco Bay Area. The release did not say how many lenders are on the team it hired.
Kurtze previously served as a group director at Signature, according to his LinkedIn profile. New York Community Bancorp bought Signature after it was closed by regulators in March.
Five Star said it plans to open a loan production office in or around the city’s financial district in the coming months.
Five Star already has business relationships and “extensive connectivity” in the San Francisco market, James Beckwith, Five Star’s CEO, said in the release.
“We believe in San Francisco and have confidence in the region’s robust talent pipeline and the strength of its diverse and competitive business environment,” Beckwith added.