SOURCE: Capital Pacific Bank

June 21, 2005 12:00 ET

Capital Pacific Bank Chairman Shifts Focus

PORTLAND, OR -- (MARKET WIRE) -- June 21, 2005 -- Capital Pacific Bank (OTC BB: CPFB) Chairman and Chief Executive Officer, Lawrence Rosencrantz, today announced that in response to both immediate and long-term opportunities to enhance the organization, he will be devoting his full attention to strategic growth opportunities.

"We founded Capital Pacific Bank two years ago on the premise that banking should be easier, more responsive and better able to meet customer needs," said Rosencrantz. "Our business plan has always included a strategy to broaden the product and service capabilities of the organization through strategic partnerships and affiliations with other types of financial service providers. The bank's success and reputation have created opportunities that require my full time and attention to come to fruition."

Effective today, Chief Operating Officer and one of the bank's founders, Mack Lai, becomes interim CEO, pending a search, to manage the bank's day-to-day activities.

Capital Pacific Bank has grown to over $55 million in assets in less than two years of operation, and claims a strong and increasing customer base in the Portland business community that is its primary market. The bank offers a full array of bank products and services, delivered in a highly personalized manner through experienced client service officers and the latest technology.

"Although Capital Pacific Bank has grown rapidly, we have remained true to our model of client-centric service," says Rosencrantz. "Our designation as one of Oregon's top 100 companies to work for has helped us attract great employees, and our customers have noticed and responded.

"We are on track to become the bank we envisioned. I'm excited about further implementing that vision and what it can mean for our customers, employees, shareholders and our community," said Rosencrantz, who has played an integral role in Portland's business and civic scene for over 30 years.

Capital Pacific Bank is headquartered in the Fox Tower. For more information, visit www.capitalpacificbank.com.

Contact Information

  • Analyst Contact:
    Felice Belfiore
    Chief Financial Officer
    Capital Pacific Bank
    (503) 542-8505
    Email Contact

    Media Contact:
    Nancy Carter
    Carter PR
    (503) 452-3333
    Email Contact