Oakland Bank of Commerce was established on October 7, 1937 as the Bank of Commerce in the old American Bank of Oakland building (built in 1914) at Sixteenth and San Pablo. The principal organizers were A.S. Weaver, President and Arnold J. Mount, Chairman of the Board. The initial capitalization was $400,000. The founding directors were: K. K. Bechtel - Founder of the Bechtel Corp; Forrest C. Kracow, Doctor; George R. Borrmann, Industrialist; Gerald H. Hagar, Attorney; Charles W. Gompertz, Businessman; E.I. Weitch, Capitalist; C.M. Putnam, Insurance. The bank changed its name to Oakland Bank of Commerce on August 30, 1944. It merged into Union Bank on April 28, 1969.