SOURCE: Pacific Valley Bank

March 03, 2009 12:45 ET

Pacific Valley Bank Announces Additions to Senior Management

SALINAS, CA--(Marketwire - March 3, 2009) - Pacific Valley Bank (OTCBB: PVBK)

Rodney Braga, Chairman of the Board of Directors, today announced additions to the management team at Pacific Valley Bank. "We are delighted to be able to announce that David B. Warner has been appointed CEO and a member of the Board of Directors, effective March 1, 2009, and that Tom Van der Ploeg has joined us as Executive Vice President and Chief Credit Officer, effective February 15, 2009. In conjunction with these additions, we are equally pleased to confirm that Ben Tinkey, one of the founders of the Bank and member of the original management team, will continue to serve as President."

"We believe that Pacific Valley Bank now has one of the strongest management teams among the banks headquartered on the Central Coast, and we are confident about our ability to continue to build a strong and resourceful bank," added Mr. Braga.

Mr. Warner's banking career began with an extended period in Asia as an officer of the First National Bank of Chicago, serving in Singapore, Hong Kong and South Korea. More recently, he has been involved in community banking in both northern and southern California. From October 2004 to April 2008 he was an organizer, Director, President and CEO of Premier Business Bank in Los Angeles. Mr. Warner presided over the bank as it grew to total assets of $88 million in the 20th month of operations. Concurrently, from May 2004 to April 2005, he was a Director of Redwood Empire Bancorp in Santa Rosa. Prior to his engagement with Premier Business Bank, he served on the Board of Directors and later as President and CEO of Pacific Union Bank Los Angeles, from May 2002-May 2004. Pacific Union Bank had assets of $1.0 billion when it was sold in April 2004. Mr. Warner has been assisting Pacific Valley Bank since November 2008 as a consultant.

Mr. Ben Tinkey has deep roots in the local banking community, having started his banking career in 1985 with World Savings in San Jose. He joined Commercial Pacific Bank in Santa Cruz, followed by Cypress Coast Bank in Seaside. He served as Senior Vice President and Chief Loan Officer with Monterey Bay Bank from 1994 until 2003 when the bank was sold to Union Bank of California. As a member of the original management team of Pacific Valley Bank in 2004, Mr. Tinkey started as Executive Vice President and Chief Loan Officer before taking on the position of President in 2006.

Mr. Van der Ploeg has had an extensive career in community banking in California, starting out as a teller with Crocker National Bank in 1976, and serving in various positions in banking operations and lending throughout his 32 year career. Since December 2004, he has served in an executive capacity as a Chief Credit Officer, most recently serving as EVP/Chief Credit Officer of Service 1st Bank in Tracy, which had $250 million in assets when it entered into a definitive sale agreement in June 2008. Since that time, Mr. Van der Ploeg has had his own consulting firm, providing credit review and credit administration services.

About Pacific Valley Bank

Pacific Valley Bank is a California banking corporation that commenced operations on September 14, 2004. We offer our services from four locations; our headquarters office and Main Street office which are both located in Salinas, California, our office located in King City and our office located in Monterey. We provide a broad range of banking products and services, including credit and deposit services to our targeted client base of small and medium sized businesses, agriculture related businesses, non-profit organizations, professionals and individuals in Monterey County. For more information, visit www.pacificvalleybank.com.

Forward-Looking Statements

Statements concerning future performance, developments or events, expectations for growth and income forecasts, 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, loan production, competitive pressure in the banking industry, balance sheet management, net interest margin variations, the ability to control costs and expenses, changes in the interest rate environment and financial policies of the United States government and general economic conditions. The Bank disclaims any obligation to update any such factors.

Contact Information

  • David Warner
    CEO
    831-771-4323

    Ben Tinkey
    President
    831-771-4308