North Bay Bancorp and the Vintage Bank Subsidiary Announce Organizational Restructuring!
01 Mai 2006 - 9:53PM
Business Wire
North Bay Bancorp (Nasdaq:NBAN) and its wholly-owned subsidiary,
The Vintage Bank, today announced a new organizational structure.
"This reorganization adopts industry best practices and capitalizes
on the strengths of our senior managers, positioning us to achieve
our ambitious plans for the next several years," stated Terry
Robinson, President and CEO of the holding company. Glen C. Terry,
President of The Vintage Bank, will assume additional
responsibilities overseeing the four offices of the Solano Bank
division in addition to the six Napa County offices of The Vintage
Bank that Glen has managed since assuming presidency of the Bank in
2002. Additionally, the marketing function for the combined company
will now report to Mr. Terry. Kathi Metro, Vintage Bank veteran of
more than 20 years, will assume the Bank's Senior Loan Executive
role, relocating to the Vintage Main location at 1500 Soscol
Avenue. "We are extremely fortunate to have Kathi take on this new
role," Glen Terry noted. "She will be a welcome and familiar face
to many of our clients." John Nerland, formerly President of the
Solano Bank division, has been promoted to lead the credit function
for both The Vintage and Solano Banks. John's new title is Senior
Executive Vice President/Chief Credit Officer. Other members of
Executive Management include Patrick Phelan, who joined the Company
in November 2005 as Executive Vice President/Chief Financial
Officer and Virginia Robbins, who was appointed Executive Vice
President/Chief Operating Officer in February 2006. Pat is
responsible for all Accounting and Finance functions while Virginia
oversees Information Technology, Central Operations, Branch
Administration and Human Resources. "These changes position us to
manage the substantial growth that we are anticipating in 2006 and
beyond. The additions of Pat Phelan and Virginia Robbins have
significantly enhanced our capacity to effectively manage a larger
company. Promoting Glen Terry to President of the combined company,
responsible for all sales and marketing functions, significantly
streamlines our structure and eliminates duplication of roles. John
Nerland has proven his outstanding management skills as President
of the Solano Bank division and now can utilize those skills in
taking the combined company to the next level overseeing credit.
Kathi Metro assuming her new role is key to our continued success
in the highly competitive Napa market," Robinson stated. About
North Bay Bancorp & The Vintage Bank The Vintage Bank is a
full-service commercial bank that offers a wide selection of
deposit, loan and investment services. The Bank, which opened in
January of 1985, is proud to celebrate 21 years of service and
growth throughout the Napa Valley, Northern California's number one
tourist destination and the nation's premier wine producing region,
with six locations in Napa County, including offices in American
Canyon, Gateway Industrial Park and St. Helena. The Solano Bank
division, opened in 2000 as a separately chartered bank, has
offices in Vacaville, Fairfield, Vallejo and Benicia. Solano
County, projected to be the Bay Area's fastest growing County
through year 2030, provides excellent growth opportunities for the
Bank. North Bay Bancorp was formed in 1999 as the holding company
for The Vintage Bank. Its stock is publicly traded on the NASDAQ
National Market under the symbol NBAN. This news release contains
forward-looking statements with respect to the financial condition,
results of operation and business of North Bay Bancorp and its
subsidiary. These include, but are not limited to, statements that
relate to or are dependent on estimates or assumptions relating to
the prospects of loan growth, credit quality and certain operating
efficiencies resulting from the operations of The Vintage Bank and
its Solano Bank Division. These forward-looking statements involve
certain risks and uncertainties. Factors that may cause actual
results to differ materially from those contemplated by such
forward-looking statements include, among others, the following
possibilities: (1) competitive pressure among financial services
companies increases significantly; (2) changes in the interest rate
environment on interest margins; (3) general economic conditions,
internationally, nationally or in the State of California are less
favorable than expected; (4) legislation or regulatory requirements
or changes adversely affect the business in which the combined
organization will be engaged; (5) finalization of the year-end
audit results; (6) the ability to satisfy the requirements of the
Sarbanes-Oxley Act and other regulations governing internal control
and (7) other risks detailed in the North Bay Bancorp reports filed
with the Securities and Exchange Commission.
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