Exhibit 99.1

CoBiz Financial Announces Selected Fourth Quarter 2015 Results

Denver -- CoBiz Financial Inc. (NASDAQ: COBZ), a financial services company with $3.4 billion in assets, announced certain selected financial results for the fourth quarter of 2015.

Release of full financial results is being delayed pending the completion of an impairment analysis related to an $11.2 million Commercial & Industrial (C&I) credit with a for-profit, technical college that was downgraded and classified as impaired and placed on nonaccrual during the fourth quarter.  The relationship is not part of a syndicate, or shared national credit program.  Including the impairment loss on this credit, the Company expects to recognize a provision for loan loss of $4.4 million to $6.4 million for the fourth quarter 2015.  This expected provision amount is based on a preliminary impairment analysis and is subject to change until the year-end financial reporting process is complete.

The Company currently expects to announce its complete financial results for the year ended December 31, 2015 and to host a conference call to discuss fourth quarter 2015 financial results on or about February 12, 2016, in conjunction with filing its 2015 Form 10-K.

Noted below are certain preliminary financial results,  which are not impacted by the C&I credit relationship discussed above.

Select Financial Highlights – Fourth Quarter 2015

•Loans at December 31, 2015 increased $78.2 million from September 30, 2015, or 11.8% annualized, and $293.6 million, or 12.2%, from December 31, 2014.

•Deposits at December 31, 2015 increased $34.3 million from September 30, 2015, or 5.0% annualized, and $249.4 million, or 10.0%, from December 31, 2014.

•As part of ongoing efficiency measures, the Company recorded severance expense of $1.0 million in the fourth quarter of 2015.

Loans

•Loans at December 31, 2015 increased $78.2 million from September 30, 2015, or 11.8% annualized, and $293.6 million, or 12.2%, from December 31, 2014.

•During the fourth quarter of 2015, $64.1 million of construction loans were transferred to the investor real estate category upon project completion and stabilization. 

•Loans increased $31.4 million in the Arizona market and $46.7 million in the Colorado market from September 30, 2015. 

•New credit extensions and advances improved in 2015 over prior years. However, the Company experienced a higher level of paydowns and maturities, particularly within the commercial real estate portfolio. 

•Commercial line utilization was 34.5% at December 31, 2015, compared to 34.7% and 36.2%, respectively, at the linked- and prior-year quarter ends.

Deposits and Customer Repurchase Agreements

•Total deposits at December 31, 2015 increased $34.3 million from September 30, 2015 and $249.4 million from December 31, 2014.

oGiven the nature of commercial deposits, end-of-period balances may vary significantly on a day-to-day basis.  Average deposits for the fourth quarter of 2015 increased $106.9 million, and 16.1% annualized, from the linked-quarter, and $288.1 million, or 11.8%, from the prior-year quarter.

•Noninterest-bearing demand accounts increased $52.6 million from September 30, 2015 and were 43.1% of total deposits at December 31, 2015.   

oAverage noninterest-bearing demand accounts increased $95.9 million from the third quarter of 2015 and were 42.8% of total average deposits for the fourth quarter of 2015.

Credit Quality

•Nonperforming assets (NPAs) increased by $10.9 million from the third quarter of 2015 to $21.3 million at December 31, 2015.  Classified loans had a corresponding increase.

oThe increase in NPAs and Classified loans was driven by the downgrade of the large C&I credit discussed above, which was classified as impaired and placed on nonaccrual during the fourth quarter of 2015. 

Net Interest Income and Margin

•Net interest income on a tax-equivalent basis was $29.9 million for the fourth quarter of 2015, an increase of $1.0 million from the third quarter of 2015 (linked-quarter), and $1.4 million from the prior-year quarter. On an annual basis, tax-equivalent net interest income increased by $7.7 million to $117.4 million.

•Interest expense of $1.8 million related to the $60.0 million of unsecured fixed-to-floating rate subordinated notes due 2030 (Notes) issued in late June 2015 is included in net interest income for the year ended December 31, 2015.

•Net Interest Margin (NIM) was relatively stable from the linked-quarter, but contracted 21 basis points from the prior-year quarter to 3.73%.  For the full year, NIM was 3.86% in 2015 as compared to 3.91% in 2014.

oNIM was impacted by the Notes offering, which contributed 11 basis points of the contraction to the reported NIM for the fourth quarter of 2015 compared to the prior-year quarter, but did not impact the linked-quarter comparison.

oThe NIM for the full year of 2015 benefited from the recognition of past-due interest collected on problem loan resolutions and prepayment penalties, particularly in the first half of 2015.

•Supporting the growth in net interest income was an increase in the earning asset base and improved deposit composition.

oQuarterly average loans increased $111.9 million, or 17.5% annualized, from the linked-quarter, and $291.2 million, or 12.3%, from the prior-year quarter.

oQuarterly average deposits increased $106.9 million, or 16.1% annualized, from the linked-quarter, and $288.1 million, or 11.8%, from the prior-year quarter.

oAverage noninterest-bearing demand accounts increased $95.9 million from the third quarter of 2015 and $124.4 million from the prior-year quarter.

Noninterest Income

•The Company has decided to focus on fee-based business lines with recurring revenue and as of March 31, 2015 ceased offering investment banking services. The operations of GMB have been reported as discontinued operations retrospectively for all periods presented.

•Noninterest income was $8.0 million for the fourth quarter of 2015, an increase of $0.6 million from the linked-quarter and $0.5 million from the prior-year quarter.

oOther income increased from the linked-quarter primarily due to greater income on equity method investments and positive valuation adjustments on the interest rate hedging portfolio. The improvement over the prior-year quarter is due mainly to fees from the sale of interest rate swaps and the positive valuation adjustments on the interest rate hedging portfolio.

•On an annual basis, noninterest income increased $2.8 million to $30.7 million for the year ended December 31, 2015.

oNoninterest income for 2014 was adversely impacted by a $1.3 million valuation adjustment on one of the Company’s limited partnership interests accounted for as an equity method investment. Income from equity method investments totaled $1.3 million for the full year of 2015 as compared to a slight negative return for the full year of 2014.

oInsurance revenues for 2015 increased $0.9 million, or 8.0%, to $12.0 million.

•Noninterest income as a percentage of operating income was 21.1% for the fourth quarter of 2015, as compared to 20.4% and 20.8%, respectively, for the linked- and prior-year quarters.

Operating Expenses

•Total noninterest expense increased $1.0 million from the linked-quarter and $0.8 million from the prior-year quarter.

oDuring the fourth quarter of 2015, the Company eliminated several job positions and recorded related severance expense of $1.0 million.

•For the full year, total noninterest expenses excluding gains or losses on assets were $100.5 million and $96.7 million, respectively, for 2015 and 2014, a 3.9% increase.  Excluding the fourth quarter of 2015 severance charge, the annual increase was 2.9%.

•The efficiency ratio was 67.9% for the full year of 2015, as compared to 70.3% for the prior year.  For the fourth quarter of 2015, the efficiency ratio was 68.5%, and 65.8% excluding the severance charge noted above.

Contact Information

CoBiz Financial Inc.

Lyne Andrich 303.312.3458

About CoBiz Financial

CoBiz Financial (NASDAQ:COBZ) is a $3.4 billion financial services company that serves the complete financial needs of businesses, business owners and professionals in Colorado and Arizona. The Company provides banking services through Colorado Business Bank, Arizona Business Bank and CoBiz Private Bank; wealth planning and investment management through CoBiz Wealth Management; and property and casualty insurance brokerage and employee benefits through CoBiz Insurance.

Forward-Looking Information

This release contains forward-looking statements that describe CoBiz's future plans, strategies and expectations. Forward-looking statements include statements about future performance and results of operations. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include words such as "believe," "expect," "anticipate," "intend," "plan," "estimate" or words of similar meaning, or future or conditional verbs such as "would”, "could", “should” or "may." Forward-looking statements speak only as of the date they are made. All forward-looking statements are based on assumptions and involve risks and uncertainties, many of which are beyond our control and which may cause our actual results, performance or achievements to differ materially from the results, performance or achievements contemplated by the forward-looking statements. Such risks and uncertainties include, among other things:

•Results of the impairment analysis related to the large Commercial & Industrial credit discussed in this release.

•Risks and uncertainties described in our reports filed with the Securities and Exchange Commission, including our most recent Form 10-K.

•Competitive pressures among depository and other financial institutions nationally and in our market areas may increase significantly.

•Adverse changes in the economy or business conditions, either nationally or in our market areas, could increase credit-related losses and expenses and/or limit growth.

•Increases in defaults by borrowers and other delinquencies could result in increases in our provision for losses on loans and related expenses.

•Our ability to manage growth effectively could adversely affect our results of operations and prospects.

•Fluctuations in interest rates and market prices could reduce our net interest margin and asset valuations and increase our expenses.

•The consequences of continued bank acquisitions and mergers in our market areas, resulting in fewer but much larger and financially stronger competitors, could increase competition for financial services to our detriment.

•Changes in legislative or regulatory requirements applicable to us and our subsidiaries and implementation of current legislative or regulatory requirements could increase costs, limit certain operations and adversely affect results of operations.

•Changes in tax requirements, including tax rate changes, new tax laws and revised tax law interpretations may increase our tax expense or adversely affect our customers' businesses.

In light of these risks, uncertainties and assumptions, you should not place undue reliance on any forward-looking statements in this release. We undertake no obligation to publicly update or otherwise revise any forward-looking statements, whether as a result of new information, future events or otherwise.

CoBiz Financial Inc.

December 31, 2015

(unaudited)

CoBiz Financial Inc.

December 31, 2015

(unaudited)

CoBiz Financial Inc.

December 31, 2015

(unaudited)