California Republic Bank (CRPB) (OTCBB:CRPB) announced the retirement of Robert Bulseco, the Bank's CEO, effective December 5, 2008. Jon Wilcox, currently President and COO will assume the role of acting CEO. “Bob Bulseco was instrumental in the opening of the bank and has been a great asset to us in our first year of operation. We wish Bob well in his retirement,” said Jon Wilcox.
In conjunction with this management change, the Board of Directors has appointed Patrick Allen, currently a Director of the bank, President and COO, subject to regulatory approval. “We look forward to having Pat as the latest addition to our management team and drawing on his years of experience as an executive in the financial services industry,” said John W. DeCero, Vice Chairman of the Board.
About California Republic Bank:
California Republic Bank is a full service commercial bank, serving the loan and deposit needs of customers throughout Southern California. Founded in December of 2007, California Republic Bank offers a full suite of credit, cash management and depository services, delivered with the highest quality technology and personal service available in the marketplace, and always with direct access to senior management and decision makers.
The bank's board of directors is comprised of inside directors Jon Wilcox, acting CEO; John DeCero, Vice Chairman of the Board; and Patrick Allen, President & COO. Outside board members include Robert Barth, Chairman of the Board; John Bendheim, President of Bendheim Homes and Bendheim Enterprises, Inc.; Alexander Cappello, Chairman and CEO of Cappello Capital Group; John Hagestad, a Managing Partner of SARES-REGIS Group; J. Scott Watt, President/CEO of the Watt Group of Companies; Bob Din, CEO of En Pointe Technologies, Inc.; and Marc Brutten, Chairman of Westcore Properties.
For more information, contact the bank at 949-270-9700 or visit: www.crbnk.com..
Certain matters discussed in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, and are subject to the safe harbors created by the act. These forward-looking statements refer to the Company's current expectations regarding future operating results, and growth in loans, deposits, and assets. 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 (1) the impact of changes in interest rates, a decline in economic conditions, and increased competition by financial service providers on the Company's results of operation, (2) the Company's ability to continue its internal growth rate, (3) the Company's ability to build net interest spread, (4) the quality of the Company's earning assets, and (5) governmental regulations.