SONOMA, Calif., Feb. 20 /PRNewswire-FirstCall/ -- Sonoma Valley Bancorp (BULLETIN BOARD: SBNK) Board Chairman Bob Nicholas reported leadership changes in Sonoma Valley Bancorp and in its wholly owned subsidiary, Sonoma Valley Bank, in accordance with the company's strategic plan for management succession.
Sean Cutting has been named President and Chief Executive Officer of Sonoma Valley Bancorp and President and Chief Executive Officer of Sonoma Valley Bank, and serves on the Sonoma Valley Bank Board of Directors. Cutting replaces Mel Switzer, Jr. who retired last month and had served as Chief Executive Officer of the Company since 1990. Switzer will remain in his role as Vice Chairman of the Board of Sonoma Valley Bancorp and Chairman of the Board of Sonoma Valley Bank.
Cutting grew up in Sonoma, attended local schools, and graduated from UCLA with a degree in Economics in 1991. He was an Investment Consultant with Citicorp Investment Services and Liberty Financial Companies before earning his MBA from the Marshall School of Business at USC in 1997. He worked for several international corporate banks, including Bank of Montreal in Los Angeles and ABN AMRO in San Francisco until 2002 when Cutting joined the lending group of Sonoma Valley Bank as Vice President. In 2003, he was named Senior Vice President and Chief Lending Officer, overseeing all lending operations for the Bank. In January 2008, Cutting was named President, Chief Lending Officer, and Chief Administrative Officer of the Bank.
Kelly Bruns has been named Senior Vice President and Chief Credit Officer of Sonoma Valley Bank. Bruns joined the Bank in 2007 with 15 years of business experience, including 8 years in financial services. She worked as a Commercial Loan Underwriter with Wells Fargo in Napa then advanced her banking career and became a Branch Sales Manager/Commercial Loan Officer for Solano Bank before serving as Credit Officer for Napa Community Bank. Since joining the Bank, Ms. Bruns has been responsible for credit department reporting, providing extensive analysis of the Bank's loan portfolio as well as enhancing and administering loan policy and procedures. Ms. Bruns graduated from California State University, Sacramento with a BA in Business Administration and also holds an MBA in Finance.
Sonoma Valley Bancorp shares are listed on the OTC Bulletin Board (OTCBB) and the stock symbol is SBNK.
This press release may contain forward-looking statements, which are not historical facts, but which management believes are a benefit to shareholders. These forward looking statements may include management's expectations regarding future events and performance of its subsidiary, Sonoma Valley Bank, including such items as operating efficiencies, projected growth in loans and deposits, future operating results and forecasts, net interest margin, strength of the local economy where Sonoma Valley Bank principally operates, and federal fiscal policies. Future events are difficult to predict and such forward-looking statements contained in this press release which are not historical facts are subject to risks and uncertainties that could cause actual results to differ materially and adversely from those expressed, including, but not limited to, certain changes in the local economy, changes in interest rates and federal fiscal policies, and changes in competition. In addition, the Company discusses certain other risks and uncertainties related to its operations in its reports filed with the Securities and Exchange Commission, which risks and discussion should be read in conjunction with this press release. The Company assumes no obligation to publicly revise forward-looking statements to reflect subsequent events or changed circumstances.
