Thomas A. Sa Appointed President of California BanCorp and California Bank of Commerce
02 Maggio 2022 - 2:00PM
California BanCorp (the “Company”) (Nasdaq: CALB), the parent
company of California Bank of Commerce (the “Bank”), today
announced that Thomas A. Sa has been appointed President of the
Company and the Bank, effective immediately. Mr. Sa will continue
in his roles as Chief Financial Officer and Chief Operating Officer
of the Company and the Bank. Steven E. Shelton, who previously held
the position of President of the Company and the Bank, will remain
as Chief Executive Officer of the Company and the Bank.
“The separation of the President and CEO roles
reflects the growth of the Company and the management structure we
believe is best suited to continue effectively executing on the
strategies that are enhancing the value of our franchise,” said
Steven E. Shelton, Chief Executive Officer of the Company. “The
elevation of Tom to President reflects the significant role he has
played in building our franchise and the valuable skills and
experience he brings to the organization. As President, Tom will
have an even greater opportunity to make a positive impact across
all areas of the organization, including overseeing the development
of new business lines and processes that we believe will provide
additional catalysts for our future growth while further
diversifying our business mix.”
“I am extremely proud of the organization we
have built and the work we have done to create one of the fastest
growing commercial banks in Northern California,” said Thomas A.
Sa. “As President, I look forward to continuing to work closely
with Steve Shelton, the Board of Directors, and our exceptional CBC
team to continue executing on our strategic plan and making a
positive impact on all of our stakeholders.”
About Thomas A. SaThomas A. Sa
has served as Senior Executive Vice President, Chief Financial
Officer and Chief Operating Officer of the Company and the Bank
since May 2019. Prior to joining the Company, Mr. Sa was an
Executive Vice President of Western Alliance Bancorp from 2015 to
2019, most recently serving as Chief Risk Officer from November
2017 to May 2019. Prior to that, Mr. Sa held various executive
roles including Executive Vice President, Chief Financial Officer
of Bridge Bank, N.A. and its holding company, Bridge Capital
Holdings from inception in 2001 to its merger with Western Alliance
Bancorp in 2015. He was a director of Bridge Bank and Bridge
Capital Holdings from 2010 to 2015.
About California BanCorp
California BanCorp, the parent company for California Bank of
Commerce, offers a broad range of commercial banking services to
closely held businesses and professionals located throughout
Northern California. The Company’s common stock trades on the
Nasdaq Global Select marketplace under the symbol CALB. For more
information on California BanCorp, call us at (510) 457-3751, or
visit us at www.californiabankofcommerce.com.
Forward-Looking
Information:
Statements in this news release regarding
expectations and beliefs about future financial performance and
financial condition, as well as trends in the Company’s business
and markets are "forward-looking statements" as defined in the
Private Securities Litigation Reform Act of 1995. Forward-looking
statements often include words such as "believe," "expect,"
"anticipate," "intend," "plan," "estimate," "project," "outlook,"
or words of similar meaning, or future or conditional verbs such as
"will," "would," "should," "could," or "may." The forward-looking
statements in this news release are based on current information
and on assumptions that the Company makes about future events and
circumstances that are subject to a number of risks and
uncertainties that are often difficult to predict and beyond the
Company’s control. As a result of those risks and uncertainties,
the Company’s actual financial results in the future could differ,
possibly materially, from those expressed in or implied by the
forward-looking statements contained in this news release and could
cause the Company to make changes to future plans. Those risks and
uncertainties include, but are not limited to, the risk of
incurring loan losses, which is an inherent risk of the banking
business; the risk that the Company will not be able to continue
its internal growth rate; the risk that the United States economy
will experience slowed growth or recession or will be adversely
affected by domestic or international economic conditions and risks
associated with the Federal Reserve Board taking actions with
respect to interest rates, any of which could adversely affect,
among other things, the values of real estate collateral supporting
many of the Company’s loans, interest income and interest rate
margins and, therefore, the Company’s future operating results;
risks associated with changes in income tax laws and regulations;
and risks associated with seeking new client relationships and
maintaining existing client relationships. Readers of this news
release are encouraged to review the additional information
regarding these and other risks and uncertainties to which our
business is subject that are contained in our Annual Report on Form
10-K for the year ended December 31, 2021 which is on file with the
Securities and Exchange Commission (the “SEC”). Additional
information will be set forth in our Quarterly Report on Form 10-Q
for the quarter ended March 31, 2022, which we expect to file with
the SEC during the second quarter of 2022, and readers of this
release are urged to review the additional information that will be
contained in that report.
The COVID-19 pandemic has created economic and
financial disruptions that have adversely affected, and may
continue to adversely affect, our business, operations, financial
performance and prospects. Even after the COVID-19 pandemic
subsides, it is possible that the U.S. and other major economies
experience or continue to experience a prolonged recession, which
could materially and adversely affect our business, operations,
financial performance and prospects. Statements about the effects
of the COVID-19 pandemic on our business, operations, financial
performance and prospects may constitute forward-looking statements
and are subject to the risk that the actual impacts may differ,
possibly materially, from what is reflected in those
forward-looking statements due to factors and future developments
that are uncertain, unpredictable and in many cases beyond our
control, including the scope and duration of the pandemic, actions
taken by governmental authorities in response to the pandemic, and
the direct and indirect impact of the pandemic on our customers,
third parties and us.
Due to these and other possible uncertainties
and risks, readers are cautioned not to place undue reliance on the
forward-looking statements contained in this news release, which
speak only as of today's date, or to make predictions based solely
on historical financial performance. The Company disclaims any
obligation to update forward-looking statements contained in this
news release, whether as a result of new information, future events
or otherwise, except as may be required by law.
Contacts:Steven E. Shelton,
(510) 457-3751Chief Executive Officerseshelton@bankcbc.com
Thomas A. Sa, (510) 457-3775PresidentChief
Financial Officer andChief Operating Officertsa@bankcbc.com
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