SOURCE: Sierra Vista Bank

Sierra Vista Bank

July 01, 2013 12:04 ET

Sierra Vista Bank Announces President/CEO Resignation

FOLSOM, CA--(Marketwired - Jul 1, 2013) -  Sierra Vista Bank (OTCQB: SVBA) today announced that Gregory Patton has resigned as President and Chief Executive Officer. He has also resigned as a Director to the Board.

Until a successor is named, the Bank will be managed by the executive management team with Board oversight by Brady Whitlow the Chairman of the Board.

"On behalf of the Board of Directors, Officers, and Staff of Sierra Vista Bank, we wish to express our thanks to Greg for his services. We wish him the very best in the future," said Brady Whitlow, Chairman of the Board of Directors.

The Board is actively pursuing a successor and hopes to have a formal application filed with the regulators early in the third quarter.

"We will continue serving our customers and community with the excellent personal service they expect and will endeavor to continue the Bank's profitable performance for our shareholders," commented Whitlow.

About Sierra Vista Bank
Sierra Vista Bank is a locally owned community bank headquartered at 1710 Prairie City Road in Folsom, California since March 2007 and has a branch located in the Sam's Town Center in Cameron Park. The Bank prides itself on serving the financial needs of small businesses and professionals in Folsom and throughout the Highway 50 Corridor while remaining committed to community philanthropy. Additional information about Sierra Vista Bank can be found at or by calling (916) 850-1500.

Forward Looking Statement:
In addition to historical information, this press release includes forward-looking statements, such as statements regarding increases in non-interest income, future profitability, the bank's ability to address challenges impacting economy in which it operates and future loan losses, which reflect management's current expectations for the bank's future financial results and business prospects. Forward-looking statements are inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include, but are not limited to: (a) changes in competitive pressures among depository and other financial institutions or in the bank's ability to compete effectively against larger financial institutions in its banking market; (b) actions of government regulators or changes in laws, regulations or accounting standards, that adversely affect the bank's business; (c) changes in interest rates and/or inflation; (d) changes in general economic or business conditions and the real estate market in the bank's market; and (e) other unexpected developments or changes in the bank's business or its customers' businesses. Such risks and uncertainties could cause results for subsequent interim periods or for the entire year to differ materially from those indicated. You should not place undue reliance on the forward-looking statements, which reflect management's view only as of the date hereof. The Bank undertakes no obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances.

Contact Information

  • Contacts:
    Brady Whitlow
    Chairman of the Board
    Sierra Vista Bank
    (916) 850-150
    Email Contact

    Lesa Fynes
    Sierra Vista Bank
    (916) 850-1505
    Email Contact