HENDERSONVILLE, N.C., July 20 /PRNewswire-FirstCall/ -- Mountain 1st Bank & Trust Company (BULLETIN BOARD: MOBT) announced that its Board of Directors has elected a new Chairman and Vice Chairman. The terms of service of the Board's Chairman and Vice Chairman are limited to three consecutive years. Accordingly, Mr. H. Steve McManus, who has served as Chairman of the Board since the inception of the Bank will remain on the Board of Directors but will relinquish his duties as Chairman to Mr. Bradley B. Schnyder. In assuming his new role as Chairman, Mr. Schnyder, who has served as the Board's Vice Chairman, will relinquish those duties to Mr. William H. (Bill) Burton.
Greg Gibson, CEO stated, "The entire Mountain 1st team wishes to thank Steve for his vision and leadership as Mountain 1st Bank's initial Chairman. He has helped guide the company from its inception to become one of the most successful bank start ups in the country during his three years as Chairman. We have been both honored and fortunate to have him in this role. We also would like to welcome Mr. Schnyder into the role of Chairman. As Vice Chairman for the past three years, he has demonstrated his ability to provide leadership and energy to the Board and we look forward to his assuming this new role. Finally, we also welcome Bill Burton as the Bank's new Vice Chairman. Mr. Burton brings years of corporate experience to his new role as well as a decade of service on community bank Boards of Directors. We are indeed fortunate to have a Board comprised of people of this caliber to help guide our company into the future."
This Press Release and its exhibits contain statements relating to our financial condition, results of operations, plans, strategies, trends, projections of results of specific activities or investments, expectations or beliefs about future events or results, and other statements that are not descriptions of historical facts. Those statements may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements may be identified by terms such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "forecasts," "potential" "opportunity," or "continue," or similar terms or the negative of these terms, or other statements concerning opinions or judgments of our management about future events. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include, but are not limited to, factors discussed in our Annual Report on Form 10-K and in other reports we file with the Federal Deposit Insurance Corporation (FDIC) from time to time. Copies of those reports are available directly through the FDIC. Other factors that could influence the accuracy of those forward-looking statements include, but are not limited to: (a) the financial success or changing strategies of our customers; (b) customer acceptance of our services, products and fee structure; (c) changes in competitive pressures among depository and other financial institutions or in our ability to compete effectively against larger financial institutions in our banking market; (d) actions of government regulators, or changes in laws, regulations or accounting standards, that adversely affect our business; (e) our ability to manage our growth and to underwrite increasing volumes of loans; (f) the impact on our profits of increased staffing and expenses resulting from expansion; (g) changes in the interest rate environment and the level of market interest rates that reduce our net interest margin and/or the volumes and values of loans we make and securities we hold; (h) weather and similar conditions; (i) changes in general economic or business conditions and the real estate market in our banking market (particularly changes that affect our loan portfolio, the abilities of our borrowers to repay their loans, and the values of loan collateral); and (j) other developments or changes in our business that we do not expect. Although our management believes that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. All forward-looking statements attributable to us are expressly qualified in their entirety by the cautionary statements in this paragraph. We have no obligation, and do not intend, to update these forward-looking statements.
Mountain 1st Bank & Trust Company, one of the most rapidly growing community banks in the Southeast, is a state-chartered, non-member community bank headquartered in Hendersonville, N.C.
