DENVER, Sept. 3, 2015 /PRNewswire/ -- CoBiz Financial (Nasdaq: COBZ), the parent company of Colorado Business Bank and Arizona Business Bank, announced that Terrance Scanlan has been elected to the Board of Directors for its banking franchise.

"We are pleased to welcome Terry to our bank Board," said Jonathan C. Lorenz, chairman of Colorado Business Bank/Arizona Business Bank. "Terry's real estate contacts and experience in the Vail Valley will help us continue to build our presence in that industry for that market. In addition, his four decades of experience in manufacturing will help us continue to improve how we serve clients in that industry vertical."

Scanlan currently serves as founder and chairman of Alpine Mountain Builders, a general contractor building upscale homes in the Vail Valley. In addition, he is chairman of Four Seasons Resort Estates, a developer and builder of golf course properties at Four Seasons Nevis in the West Indies. Previously, he held leadership positions at a number of firms, including Waterford Capital Group, LLC, a venture capital firm specializing in the restructuring of privately held manufacturing firms, which he founded and served as managing partner. He received his bachelor's degree in business administration at the University of Notre Dame and an MBA at Southern Methodist University.

Colorado Business Bank and Arizona Business Bank are full-service commercial banking institutions that offer a broad range of sophisticated banking services to a targeted customer base of professionals and small to medium-sized businesses. The bank's parent company, CoBiz Financial (Nasdaq GS: COBZ), is a $3.1 billion financial holding company headquartered in Denver. The Company also provides private banking, investment management and wealth planning through CoBiz Private Client Advisors; and employee benefits, retirement advisory services, and property and casualty insurance brokerage through CoBiz Insurance.

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/cobiz-bank-names-new-board-member-300137584.html

SOURCE CoBiz Financial