PASADENA, Calif.--(Business Wire)--
Belvedere SoCal (OTCBB:BLVE) today announced the appointment of
William Baribault as Chief Executive Officer of Belvedere SoCal and
its subsidiary banks, Professional Business Bank and Spectrum Bank.
Mr. Baribault is the former Chairman of Professional Business Bank and
has been a Director of Belvedere SoCal since its acquisition of
Professional Business Bank in 2007.
"We are extremely excited to have Bill as the CEO of Belvedere
SoCal," Alan Lane, Executive Chairman said. "Bill has demonstrated his
commitment and passion to this organization since he helped found
Professional Business Bank in 2001 and we believe he is the best
candidate to lead Belvedere SoCal toward its long-term goals."
"I am looking forward to the opportunity to work side-by-side with
Alan and our talented employees to help the business fulfill its
potential," Mr. Baribault said. "We have the vision and capability to
become the leading small-business focused community bank in Southern
California and I am excited to be an active part of the effort."
Under the combined leadership of Mr. Lane and Mr. Baribault,
Belvedere SoCal aspires to fulfill its vision by attracting highly
talented employees, opening new branches and making strategic
acquisitions. Emphasizing the customer experience, Belvedere SoCal
intends to offer its customers a broad array of financial services
products delivered in a personalized fashion by the company's highly
skilled employees.
"Bill understands the importance of relationship banking and has
been one of the greatest supporters of Professional Business Bank over
the past seven years," Alison Davis, Director of Belvedere SoCal and
Managing Partner of Belvedere Capital said. "He has the demonstrated
extraordinary leadership throughout his career and we are thrilled to
have him become the CEO of Belvedere SoCal and its subsidiaries."
The board of directors of Belvedere SoCal has unanimously approved
Mr. Baribault as CEO effective immediately and intends to enter into a
five-year employment agreement with him.
Mr. Baribault is the Vice Chairman and former CEO of Henry
Company, a Los Angeles, CA-based business with over $300 million in
revenue. Mr. Baribault is a graduate of Stanford University and is a
member of Chief Executives Organization, World Presidents
Organization, and the Executive Forum of California Institute of
Technology. Mr. Baribault serves or has served in the past on a
variety of for-profit boards including Henry Company, M.C. Gill
Corporation, and M Chemical Company. He serves or has served on
several non-profit boards, including Flintridge Preparatory School,
The Chandler School, and Descanso Gardens, each as Chairman, and the
boards of the United States Luge Association, Chief Executives
Organization, Covenant House of California, Kidspace Children's
Museum, and Verdugo Hills Hospital Foundation.
About Belvedere SoCal
Belvedere SoCal was formed by Belvedere Capital Fund II L.P. to
aggregate Southern California community bank franchises for the
purpose of building the leading small business-focused community bank
in the region. Belvedere SoCal is the bank holding company for
Professional Business Bank and Spectrum Bank. Belvedere SoCal is
traded on the OTC Bulletin Board under the ticker symbol BLVE.
About Belvedere Capital
Belvedere Capital has established itself as one of the leading
private equity investors in community banks and related financial
services in the U.S. Since 1994, Belvedere Capital has purchased or
invested in 18 financial services companies and partnered with strong
management teams to build profitable, growing franchises and deliver
excellent returns to its investors. Belvedere Capital's principals
have decades of experience investing in and operating financial
institutions and will work with the combined company's management to
enhance growth, operating performance and strategic positioning. Based
in San Francisco, CA, Belvedere Capital is currently investing its
second financial services-focused private equity fund.
About Professional Business Bank
Headquartered in Pasadena, CA, Professional Business Bank was
created by business leaders for business leaders. Through its branch
network and seasoned personnel, Professional Business Bank offers
personal and business deposit and loan relationships. Loans are
offered through commercial, construction, real estate, SBA and CalCAP
lending officers. Additional information may be found at
www.probizbank.com or by calling 626-395-7000.
About Spectrum Bank
Spectrum Bank provides cutting edge technological services
together with the same personalized services that have been the
keystone of the bank since its 1955 founding. Spectrum Bank's mission
is to consistently provide professional, friendly and secure banking
services for business and individual customers, who want and need
their banking services provided in a caring and personal manner.
Offices are located at 15615 Alton Parkway in Irvine, California; 2417
West Whittier Boulevard in Montebello, California and 6094 Warner
Avenue in Huntington Beach, California. For more information, please
visit www.spectrumbank.com.
FORWARD LOOKING STATEMENTS
Statements concerning future performance, developments or events,
expectations for growth and income forecasts, and any other guidance
on future periods, constitute forward-looking statements that are
subject to a number of risks and uncertainties. Actual results may
differ materially from stated expectations. When used in this release,
the words or phrases such as "will continue", "is anticipated",
"estimate", "expect", "projected", "believes", "seeking", or similar
expressions, are intended to identify "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act of
1995. Readers should not place undue reliance on the forward-looking
statements, which reflect views only as of the date hereof. Neither
Belvedere SoCal, Belvedere Capital, Professional Business Bank nor
Spectrum Bank undertake any obligation to publicly revise these
forward-looking statements to reflect subsequent events or
circumstances.
Belvedere SoCal
Alan Lane, Executive Chairman, 415-434-1236
alane@belvederecapital.com
Copyright Business Wire 2008
