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1st Capital Bank Announces Retirement of Thomas E. Meyer, CEO

/EIN News/ -- SALINAS, Calif., March 26, 2020 (GLOBE NEWSWIRE) -- 1st Capital Bank (OTC Pink: FISB) The Board of Directors of 1st Capital has announced the retirement of Tom Meyer, president and chief executive officer since 2015, effective March 31st.

“The impact of the shelter-in-place orders now has accelerated my timetable a few months to return to my family in Southern California,” said Meyer.  “I have enjoyed the opportunity to lead this strong, healthy bank these past five years, and have particularly enjoyed my relationships with our tremendous employees, customers and community.  The generosity and spirit of the people of the Monterey Peninsula and Salinas Valley will undoubtedly sustain itself during this challenging time.  I am grateful for the opportunity to serve the Board of Directors and shareholders of 1st Capital Bank.”

“We appreciate Tom’s contribution over the past five years of growth, increasing returns to shareholders, and continuing service to the community,” said Kurt Gollnick, chairman of the board.  “We wish him well as he enters this new phase of his life.”

The Board has appointed Chief Financial Officer Michael J. Winiarski as acting chief executive officer until the search process is completed and a successor to Mr. Meyer is named.

Forward-Looking Statements
Certain of the statements contained herein that are not historical facts are “forward-looking statements” within the meaning of and subject to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995.  Such forward-looking statements may contain words or phrases including, but not limited, to: “believe,” “expect,” “anticipate,” “intend,” “estimate,” “target,” “plans,” “may increase,” “may fluctuate,” “may result in,” “are projected,” and variations of those words and similar expressions.  All such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected.  Factors that might cause such a difference include, among other matters, changes in interest rates; the economic impact of pandemic events and governmental actions taken in response to them; economic conditions including inflation and real estate values in California and the Bank’s market areas; governmental regulation and legislation; credit quality; competition affecting the Bank’s businesses generally; the risk of natural disasters and future catastrophic events including terrorist related incidents and other factors beyond the Bank’s control; and other factors.  The Bank does not undertake, and specifically disclaims any obligation, to update or revise any forward-looking statements, whether to reflect new information, future events, or otherwise, except as required by law.

This news release is available at the www.1stCapital.bank internet site for no charge.

For further information, please contact: Michael J. Winiarski, Acting Chief Financial Officer, 831.264.4014, or Michael.winiarski@1stcapitalbank.com.

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