SAN LUIS OBISPO, CA--(Marketwired - Oct 24, 2013) - Coast Bancorp (OTCBB: CTBP) today announced it has selected Paul Cable to serve as Executive Vice President and Chief Financial Officer of both Coast Bancorp and its wholly owned subsidiary, Coast National Bank.
Mr. Cable joins the bank with more than 30 years of banking experience having most recently served as Finance Executive with Regents Bank. His professional history includes more than 20 years of experience as Chief Financial Officer with various sizes of community banks in Southern California.
"Paul's talent and experience will be of great value to our team and will make a strong contribution to our continued positive efforts," said Anita Robinson, President and Chief Executive Officer of Coast Bancorp and Coast National Bank.
Mr. Cable's educational background includes an MBA in accounting from National University and a BA in Business Administration and History from California Lutheran College. He also attended the BAI School of Bank Administration.
Mr. Cable will succeed former Chief Financial Officer Karan Pohl who resigned in May 2013. The position of Director of Finance was eliminated in October 2013, held by James M. Kaney. Mr. Kaney is no longer with the company.
Established in 1997, Coast National Bank is a local community bank serving consumers and businesses through four local offices serving San Luis Obispo County. With a focus on delivering outstanding customer service, Coast National Bank is an expert in small business lending and provides an array of business and personal banking deposit products and other services. For further information, visit www.coastnationalbank.com or call 805.541.0400. Coast National Bank is an equal housing lender and member FDIC.
Statements concerning future performance, developments or events, expectations for growth, income forecasts, sales activity for collateral, and any other guidance on future periods, constitute forward-looking statements that are subject to a number of risks and uncertainties. Actual results may differ materially from stated expectations. Specific factors include, but are not limited to the ongoing financial crisis in the United States and the markets in which Coast National Bank operates, and the response of the federal and state government and our regulators thereto, continued growth, Coast National Bank's beliefs as to the adequacy of its existing and anticipated allowances for loan losses, beliefs and expectations regarding actions that may be taken by regulatory authorities having oversight of Coast National Bank's operations, interest rates and financial policies of the United States government, continued weakness in the real estate markets within which we operate and general economic conditions. If any of these risks or uncertainties materializes or if any of the assumptions underlying such forward-looking statements proves to be incorrect, Coast Bancorp's results could differ materially from those expressed in, implied or projected by such forward-looking statements. Coast National Bank assumes no obligation to update such forward-looking statements.