SOURCE: 1st Capital Bank

1st Capital Bank

September 15, 2014 16:15 ET

1st Capital Bank Announces Changes in Executive Officers

MONTEREY, CA--(Marketwired - Sep 15, 2014) - 1st Capital Bank (OTCQB: FISB) (the "Bank") announced that the Bank's Executive Vice President and Chief Administrative Officer, Marilyn P. Goode, has separated from the Bank. Ms. Goode worked for the Bank since 2007 and was instrumental in the Bank's early operation and growth.

The Bank also announced that H. Irene Shippee has been appointed Executive Vice President and Chief Banking Officer. Ms. Shippee is a veteran California banker who has worked for 1st Capital Bank for the past year in the role of Senior Vice President and Operations Administrator. Ms. Shippee has over 25 years of experience in electronic banking, branch administration, deposit product development, card processing, deposit operations, and associated regulatory compliance. In her new role, Ms. Shippee will be responsible for most of the functions previously managed by Ms. Goode, including the Bank's branch network and Cash Management and Central Operations departments.

Commenting on the staffing changes, Mark Andino, the Bank's President and Chief Executive Officer, stated: "We extend our thanks to Ms. Goode for her years of service to the Bank, including contributing to the formative operation of the Bank and the improvement of its branch network. We wish her the best in her future endeavors." He then continued: "We welcome Ms. Shippee to the Bank's executive management team. Her contributions over the past year have been impressive, including major enhancements to our client statements, branch efficiency, and internal operations. Ms. Shippee has quickly integrated into the Bank's culture and shares our commitment to building longstanding client relationships."

Kurt Gollnick, the Bank's Chairman of the Board, added: "As part of the Bank's succession planning, we have aimed to recruit professional bankers with expertise across a wide range of functions. Ms. Shippee fits this profile, with extensive experience across multiple disciplines and with significant knowledge of the California marketplace. The Board of Directors has been impressed with Ms. Shippee's performance over the past year and views her as very well qualified to join the Bank's executive team."

Ms. Shippee commented: "I look forward to further increasing the range of areas where I might advance the Bank's strategic plan of becoming the premier community bank throughout the Central Coast Region of California. The Bank's focus on providing a concierge level of service delivered by high caliber bankers has been quite successful in building market share in Monterey County and, recently, in adjacent counties as well." Ms. Shippee then added: "The Bank is led by a strongly committed and highly experienced management team, supported by a proactive Board of Directors. It has been rewarding to work with those individuals over the past year, and I welcome the opportunity to enhance my involvement with our entire team."

About 1st Capital Bank

The Bank's primary target markets are commercial enterprises, professionals, real estate investors, family business entities, and residents along the Central Coast Region of California. The Bank provides a wide range of credit products, including loans under various government programs such as those provided through the U.S. Small Business Administration ("SBA") and the U.S. Department of Agriculture ("USDA"). A full suite of deposit accounts is also furnished, complemented by robust cash management services. The Bank operates full service branch offices in Monterey, Salinas, and King City. The Bank's corporate offices are located at 5 Harris Court, Building N, Suite 3, Monterey, California 93940. The Bank's website is www.1stCapitalBank.com and the main telephone number is 831.264.4000. The primary facsimile number is 831.264.4001.

Member FDIC / Equal Opportunity Lender / SBA Preferred Lender

Forward-Looking Statements:

Certain of the statements contained herein that are not historical facts are "forward-looking statements" within the meaning of and subject to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements may contain words or phrases including, but not limited, to: "believe," "expect," "anticipate," "intend," "estimate," "target," "plans," "may increase," "may fluctuate," "may result in," "are projected," and variations of those words and similar expressions. All such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected. Factors that might cause such a difference include, among other matters, changes in interest rates; economic conditions including inflation and real estate values in California and the Bank's market areas; governmental regulation and legislation; credit quality; competition affecting the Bank's businesses generally; the risk of natural disasters and future catastrophic events including terrorist related incidents and other factors beyond the Bank's control; and other factors. The Bank does not undertake, and specifically disclaims any obligation, to update or revise any forward-looking statements, whether to reflect new information, future events, or otherwise, except as required by law.

This news release is available at the www.1stCapitalBank.com Internet site for no charge.

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