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LA JOLLA, Calif., Jan. 07, 2025 (GLOBE NEWSWIRE) -- Private Bancorp of America, Inc. (OTCQX: PBAM) (“Company”) and CalPrivate Bank (“Bank”) announced today that Chief Credit Officer, Robert Llorens, has retired after a long and successful career.
“We wish Bob all the best in his retirement. Bob has been an integral part of our growth as a Company over the past six years. While Bob’s leadership will be missed, he leaves a strong legacy in the credit management team he has mentored over the past several years. We are confident Bob has left us a solid foundation to continue our growth and success,” stated Rick Sowers, President & CEO.
Thomas V. Wornham, Director of the Bank and member of the Directors’ Loan Committee, will be providing interim support to Mickey Barda, Deputy Chief Credit Officer, and the credit management team until a new CCO has been appointed. “Tom knows how we do business and how we lend money,” continued Mr. Sowers. “We are fortunate to have his guidance and expertise during our search for this important part of our Team.” Mr. Wornham is the retired CEO of CalPrivate Bank, most recently before Mr. Sowers.
About Private Bancorp of America, Inc.
About Private Bancorp of America, Inc. (OTCQX: PBAM) PBAM is the holding company for CalPrivate Bank, which operates offices in Coronado, San Diego, La Jolla, Newport Beach, El Segundo, and Beverly Hills, as well as through efficient digital banking services. CalPrivate Bank is driven by its core values of building client Relationships based on superior funding Solutions, unparalleled Service, and mutual Trust. The Bank caters to high-net-worth individuals, professionals, closely-held businesses, and real estate entrepreneurs, delivering a Distinctly Different™ personalized banking experience while leveraging cutting-edge technology to enhance our clients’ evolving needs. CalPrivate Bank is in the top tier of customer service survey ratings in the nation, scoring almost 3x higher than the median domestic bank. The Bank offers comprehensive deposit and treasury services, rapid and creative loan options including various portfolio and government-guaranteed lending programs, cross border banking, and innovative, unique technologies that drive enhanced client performance. CalPrivate Bank has been recognized by Bank Director's RankingBanking® as the 10th best bank in the country and the #1 bank in its asset class for both return on assets (ROA) and return on equity (ROE). CalPrivate Bank was also ranked in the top 5% of banks in the U.S. with assets between $2B and $10B by American Banker. Additionally, CalPrivate Bank is a Bauer Financial 5-star rated bank, an SBA Preferred Lender, and has been honored as Community Bank 504 Lender of the Year by the NADCO Community Impact Awards, exemplifying excellence in the banking industry. These prestigious rankings highlight the Bank’s commitment to delivering exceptional banking services and setting new industry standards.