Bank of Santa Clarita (OTC BB: BSCA) today announced that Frank D. Di Tomaso has been elected Chairman of the Board. Mr. Di Tomaso replaces Robert W. King, who served as Chairman for the past five years and recently retired from the Board on November 13, 2009. The Board of Directors also appointed Shawn Shambaugh to serve as Vice Chairman, the position previously held by Mr. Di Tomaso.
President and CEO James D. Hicken commented, "I couldn''t be more thrilled about Frank D. Di Tomaso taking the reins of our Board. He is an extremely qualified 29 year banking veteran who has an intimate knowledge of the Bank and its operations, was instrumental in the founding and formation of the Bank, and is well suited to lead the Bank into the future."
The incoming Chairman Di Tomaso stated, "I will continue to work diligently with my fellow Directors to ensure Bank of Santa Clarita continues to prosper in the communities it serves and build upon the Bank''s growth strategy. These are unprecedented times for the banking industry, but the strength of Bank of Santa Clarita is in its Directors, management team, and its knowledge of the community. This is evidenced by the Bank''s continued superior performance and conservative approach."
Mr. Hicken praised outgoing Chairman King for his leadership, "Under Robert W. King''s leadership, experience as an entrepreneur, encouragement, and support, he provided the Bank with a sound basis from which to grow and prosper."
Outgoing Chairman King reflected, "It has been an honor and a privilege to serve as the Bank''s Chairman for these past five years. It has been a wonderful experience to watch the Bank grow from its initial stock offering in 2004 to achieving an asset level of $154 million just this past September. All of this would not be possible without the dedication and hard work of my fellow Board Members, the Bank Staff and especially the Executive Management team for which I have the utmost respect."
Bank of Santa Clarita, founded in 2004, is the only independent, full service commercial bank headquartered in Santa Clarita and generally serves the needs of retail consumers, small to mid-sized businesses, professionals, entrepreneurs, and high-net worth individuals. The Bank provides local, experienced decision-making and the personalized service that growing businesses need on a daily basis. Bank clients have direct access to executive management and professional staff members to address their SBA and other credit requirements, and also technology-based services that include online bill-paying, remote capture depositing, check imaging and initiating online wire transfers, among other cash management facilities, which services enable local businesses to effectively and efficiently manage their cash and credit needs.
FORWARD LOOKING STATEMENTS
Certain matters discussed in this release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to the Bank''s current expectations regarding deposit and loan growth, operating results and the strength of the local economy. These forward-looking statements are subject to certain risks and uncertainties that could cause the actual results, performance or achievements to differ materially from those expressed, suggested or implied by the forward-looking statements. These risks and uncertainties include, but are not limited to: the impact of changes in interest rates, a decline in economic conditions and increased competition among financial service providers as these factors may impact the Bank''s operating results, its ability to attract deposit and loan customers, the quality of the Bank''s earning assets and government regulation. The Bank does not undertake, and specifically disclaims, any obligation to update any forward-looking statements to reflect occurrences or unanticipated events or circumstances after the date of such statements.
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Contacts:
Bank of Santa Clarita
James D. Hicken
President
Chief
Executive Officer
661-362-6001