Pinnacle Bank Arizona, a business-oriented bank serving small businesses and the community in Phoenix and Scottsdale, has announced the appointment of its first new board member since 2005.
Robert Leonard, owner and executive director of Colonial Capital, LLC, was unanimously appointed to the board of directors to help oversee operations for both Pinnacle Bank and PB Financial Holdings, Inc. A third generation Arizonan, Mr. Leonard has more than 30 years of experience in real estate lending, money management and raising capital, and will serve on the board’s loan committee, according to a press release.
“We are very pleased that Leonard has decided to join our board of directors. He brings industry knowledge that is vital to our business and a proven track record of success from his years of banking experience in the Valley,” said Mike Thorell, president and CEO of Pinnacle Bank Arizona, in the release. “His commitment to progressing the industry, along with his expertise in lending will certainly strengthen our loan committee.”
Prior to his ownership of Colonial Capital, Mr. Leonard co-founded Main Street Financial Group, Inc., a residential mortgage company based in Phoenix and Scottsdale focused primarily on FHA, VA, conventional and construction loans.
In his eight years with Main Street Financial Group, the real estate mortgage company averaged more than $90 million in loan originations per year, the release stated. Mr. Leonard also previously served as assistant vice president for Valley National Bank and worked for United Bank of Arizona, specializing in commercial and real estate lending.
Mr. Leonard is a current member of the Arizona Association of Mortgage Brokers and Arizona Commercial Mortgage Lenders Association. He is a founding member of the board of directors of the Arizona Private Lenders Association, which works to promote and foster private capital for real estate projects, as well as provide standards of conduct and education for private money lenders.
A graduate of Arizona State University, Mr. Leonard is actively involved in the local community. He volunteers for the Sun Angel Advisory Council and the Executive Council, where he has dedicated his time for 25 years.
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