SOURCE: USA Bank

July 10, 2007 14:07 ET

USA Bank Announces New President and Chief Executive Officer

PORT CHESTER, NY--(Marketwire - July 10, 2007) - Fred A. DeCaro, Jr., Chairman of USA Bank (OTCBB: USBK), announced today that the Bank has received notices from the State of New York Banking Department and the Federal Deposit Insurance Corporation ("FDIC") that neither agency objects to the appointment of Ronald J. Gentile as President and Chief Executive Officer ("CEO") and a Director of the Bank. Mr. Gentile's appointments became effective on July 5, 2007.

Mr. Gentile was recently the President & CEO and Director of Community Bank of Orange, N.A. in Middletown, Orange County, NY from October 2004 to March 2007. He previously held the positions of President, Chief Operating Officer and Director of The Warwick Savings Bank and Warwick Community Bancorp (effective December 1997) in Warwick, Orange County, NY from May 1990 to October 2004. From 1971 to 1990, Mr. Gentile served as a Senior Bank Examiner for the Federal Deposit Insurance Corporation in the New York Region.

Mr. Gentile has been active at the Bank in a consulting capacity since late March 2007. He has already developed a comprehensive 18-Point Plan to help improve the Bank's performance in the areas of operations and compliance. Mr. Gentile also assembled a team of former FDIC senior management officials with over 100 years of regulatory experience collectively. Messrs. Nicholas Ketcha, James Devaney and George Roman have been engaged as consultants and are involved in strategic planning, corporate governance, loan review and compliance.

USA Bank is publicly traded on the OTC Bulletin Board under the symbol USBK.

For more information about USA Bank, visit the Bank's website, www.usa-bankers.com.

Contact Information

  • Contact:
    Paul Erwin
    Chief Financial Officer
    914-417-3216

    USA Bank
    211 Irving Avenue
    Port Chester, NY 10573