IRVINE, CA--(Marketwired - Jun 30, 2016) - Plaza Bancorp and Plaza Bank (OTCBB: PLZZ) (the "Bank") is pleased to announce it has appointed Rick Sowers to the new position of Chief Operating Officer, where he is responsible for planning, organizing, and managing all day-to-day operational activities of the bank, under the direction of President and CEO Gene Galloway. All executive vice presidents at Plaza Bank will now report to Mr. Sowers.
"We are excited to appoint Rick as Chief Operating Officer at Plaza Bank, a position necessary to sustain our growth and success," Mr. Galloway said. "Rick's leadership, management, and vision will ensure Plaza Bank continues to focus on a sound infrastructure to maintain our financial strength and operating efficiency as we continue to expand our business and serve our clients."
"I embrace this new opportunity with enthusiasm. I am fortunate to work with an amazing executive team of professionals that is focused and energized," Mr. Sowers said. "Working together with our staff, I look forward to ensuring we continue to focus on continued growth in the best interest of our shareholders, clients, employees, and our communities."
Mr. Sowers joined Plaza Bank in 2015 through the merger with Bank of Manhattan, where he served in various leadership roles, including President and Chief Operating Officer and Chief Banking Officer. Currently he serves as Plaza Bank's Executive Vice President and Chief Strategy Officer, where he focused on building the Bank's long-term strategy and brand, product development, and marketing. He has been instrumental in Plaza Bank's recent expansion across key markets and services, helping to drive even greater results for the Bank and its clients.
About Plaza Bank
Plaza Bank is full service community bank serving the business and professional communities in Southern California and Las Vegas, Nevada. The Bank is committed to meeting the financial needs of small to middle market businesses and professional firms with loans for working capital, equipment and owner-occupied commercial real estate financing and a full array of cash management services. Our bankers are experienced, professional and knowledgeable. For more information, visit www.plazabank.com.
Certain matters discussed in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, and are subject to the safe harbors created by that Act. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include the words "believe," "expect," "anticipate," "intend," "plan," "estimate," or words of similar meaning, or future or conditional verbs such as "will," "would," "should," "could," or "may." Forward-looking statements are based on currently available information, expectations, assumptions, projections, and management's judgment about the Bank, the banking industry and general economic conditions. These forward-looking statements are not guarantees of future performance, nor should they be relied upon as representing management's views as of any subsequent date. Future events are difficult to predict, and the expectations described above are necessarily subject to risk and uncertainty that may cause actual results to differ materially and adversely.
Forward-looking statements involve significant risks and uncertainties and actual results may differ materially from those presented, either expressed or implied, in this press release. Factors that might cause such differences include, but are not limited to: the Bank's ability to successfully execute its business plans and achieve its objectives; changes in general economic, real estate and financial market conditions, either nationally or locally in areas in which the Bank conducts its operations; changes in interest rates; new litigation or claims or changes in existing litigation or claims; future credit loss experience; increased competitive challenges and expanding product and pricing pressures among financial institutions; legislation or regulatory changes which adversely affect the Bank's operations or business; loss of key personnel; changes in accounting policies or procedures as may be required by the Financial Accounting Standards Board or other regulatory agencies; and the ability to satisfy requirements related to the Sarbanes-Oxley Act and other regulation on internal control.