Mission Community Bancorp (“Mission”)(OTCBB: MISS) announced that effective July 26, 2011, Mark R. Ruh became Executive Vice President and Chief Financial Officer of Mission Community Bancorp and its wholly-owned banking subsidiary, Mission Community Bank.
James Lokey, Chief Executive Officer and Chairman of the Board of Mission Community Bancorp, said of Mr. Ruh’s hiring, “Mark will play an instrumental role in spearheading Mission’s financial strategy and initiatives, while assisting the company in identifying growth opportunities, including potential future acquisitions as part of our Central Coast Initiative.”
The Carpenter Community BancFund and its portfolio company, Mission Community Bancorp, have launched a strategy to build the premier California Central Coast banking franchise, designated the Central Coast Initiative. This initiative is designed to capitalize on the distinctive characteristics of the Central Coast banking markets in San Luis Obispo, Santa Barbara, Ventura and Monterey counties.
Most recently, Mr. Ruh served as Principal of Bowsprit Advisors LLC, where he provided recapitalization and restructuring advice, merger and acquisition due diligence services, and litigation support services to financial services companies. From 1998 to 2009, he was a Director at Castle Creek Capital LLC, a private equity firm specializing in control investments in financial services companies. Mr. Ruh has held various executive and board positions including: Director, President and Chief Operating Officer of White River Capital, Inc. (NYSE Amex: RVR) (2005-2009); President of Union Acceptance Company, LLC (2003-2009); and Director and Chairman of the Audit Committee for an OTS chartered thrift (2008-2010). Mr. Ruh, age 45, holds a Bachelor of Science in Industrial Engineering from The Pennsylvania State University as well as an MBA from the Kellogg School of Management and a Masters of Engineering Management (MEM), both from Northwestern University.
About Mission Community Bancorp and Bank
Mission Community Bancorp is a bank holding company for Mission Community Bank and Mission Asset Management, Inc. Mission Community Bank is a locally operated community bank which first opened its doors in 1997. There are full-service Mission Community Bank offices in San Luis Obispo, Santa Maria, Paso Robles and Arroyo Grande, and a loan production office in Oxnard. The bank’s administrative headquarters and Small Business Banking Center are located in San Luis Obispo.
Certain matters discussed in this release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to uncertain future events and economic conditions. These forward-looking statements are subject to certain risks and uncertainties that could cause the actual results, performance or achievements to differ materially from those expressed, suggested or implied by the forward-looking statements. These risks and uncertainties include, but are not limited to: the impact of changes in interest rates, a decline in economic conditions and increased competition among financial service providers as these factors may impact the operating results, the ability to attract deposit and loan customers, the quality of earning assets and government regulation. The Bank does not undertake, and specifically disclaims, any obligation to update any forward-looking statements to reflect occurrences or unanticipated events or circumstances after the date of such statements.