North Bay Bancorp (NASDAQ:NBAN)
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North Bay Bancorp (Nasdaq:NBAN) and its wholly-owned
subsidiary, The Vintage Bank, today announced a new organizational
structure. "This reorganization adopts industry best practices and
capitalizes on the strengths of our senior managers, positioning us to
achieve our ambitious plans for the next several years," stated Terry
Robinson, President and CEO of the holding company.
Glen C. Terry, President of The Vintage Bank, will assume
additional responsibilities overseeing the four offices of the Solano
Bank division in addition to the six Napa County offices of The
Vintage Bank that Glen has managed since assuming presidency of the
Bank in 2002. Additionally, the marketing function for the combined
company will now report to Mr. Terry.
Kathi Metro, Vintage Bank veteran of more than 20 years, will
assume the Bank's Senior Loan Executive role, relocating to the
Vintage Main location at 1500 Soscol Avenue. "We are extremely
fortunate to have Kathi take on this new role," Glen Terry noted. "She
will be a welcome and familiar face to many of our clients."
John Nerland, formerly President of the Solano Bank division, has
been promoted to lead the credit function for both The Vintage and
Solano Banks. John's new title is Senior Executive Vice
President/Chief Credit Officer.
Other members of Executive Management include Patrick Phelan, who
joined the Company in November 2005 as Executive Vice President/Chief
Financial Officer and Virginia Robbins, who was appointed Executive
Vice President/Chief Operating Officer in February 2006. Pat is
responsible for all Accounting and Finance functions while Virginia
oversees Information Technology, Central Operations, Branch
Administration and Human Resources.
"These changes position us to manage the substantial growth that
we are anticipating in 2006 and beyond. The additions of Pat Phelan
and Virginia Robbins have significantly enhanced our capacity to
effectively manage a larger company. Promoting Glen Terry to President
of the combined company, responsible for all sales and marketing
functions, significantly streamlines our structure and eliminates
duplication of roles. John Nerland has proven his outstanding
management skills as President of the Solano Bank division and now can
utilize those skills in taking the combined company to the next level
overseeing credit. Kathi Metro assuming her new role is key to our
continued success in the highly competitive Napa market," Robinson
stated.
About North Bay Bancorp & The Vintage Bank
The Vintage Bank is a full-service commercial bank that offers a
wide selection of deposit, loan and investment services. The Bank,
which opened in January of 1985, is proud to celebrate 21 years of
service and growth throughout the Napa Valley, Northern California's
number one tourist destination and the nation's premier wine producing
region, with six locations in Napa County, including offices in
American Canyon, Gateway Industrial Park and St. Helena. The Solano
Bank division, opened in 2000 as a separately chartered bank, has
offices in Vacaville, Fairfield, Vallejo and Benicia. Solano County,
projected to be the Bay Area's fastest growing County through year
2030, provides excellent growth opportunities for the Bank.
North Bay Bancorp was formed in 1999 as the holding company for
The Vintage Bank. Its stock is publicly traded on the NASDAQ National
Market under the symbol NBAN.
This news release contains forward-looking statements with respect
to the financial condition, results of operation and business of North
Bay Bancorp and its subsidiary. These include, but are not limited to,
statements that relate to or are dependent on estimates or assumptions
relating to the prospects of loan growth, credit quality and certain
operating efficiencies resulting from the operations of The Vintage
Bank and its Solano Bank Division. These forward-looking statements
involve certain risks and uncertainties. Factors that may cause actual
results to differ materially from those contemplated by such
forward-looking statements include, among others, the following
possibilities: (1) competitive pressure among financial services
companies increases significantly; (2) changes in the interest rate
environment on interest margins; (3) general economic conditions,
internationally, nationally or in the State of California are less
favorable than expected; (4) legislation or regulatory requirements or
changes adversely affect the business in which the combined
organization will be engaged; (5) finalization of the year-end audit
results; (6) the ability to satisfy the requirements of the
Sarbanes-Oxley Act and other regulations governing internal control
and (7) other risks detailed in the North Bay Bancorp reports filed
with the Securities and Exchange Commission.