Greater Sacramento Bancorp Announces New Board Assignments

Fri Jun 26, 2009 12:00pm EDT
 
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SACRAMENTO, Calif., June 26 /PRNewswire-FirstCall/ --  At a meeting of the
Board of Directors held on Thursday, June 25, 2009, the Directors of Greater
Sacramento Bancorp/Bank of Sacramento (OTC Bulletin Board: GSCB) named William
J. Martin as Chairman of the Boards of both Greater Sacramento Bancorp and
Bank of Sacramento.  Mr. Martin will also retain his positions as President
and CEO of Bank of Sacramento and CEO of Greater Sacramento Bancorp.

The Board also elected founding Director, Frank Vellutini, as Vice Chairman
and Lead Outside Director of both entities.  As Lead Outside Director it will
be Mr. Vellutini's responsibility to act as the primary liaison between the
Outside Directors and Management in order to ensure the continuation of active
Board governance.

Mr. Martin was one of the principal organizers of Bank of Sacramento and has
served as its President and CEO since its founding in 1998.  His elevation to
the additional position of Chairman of the Board is testimony to both the
Board's recognition of the outstanding performance of the management team in
growing the Bank over the past 11 years and to the confidence it has in
management's ability to guide the Bank through these difficult economic times.

Mr. Vellutini, President of Royal Electric Company, a preeminent local
commercial electrical contractor, has also been a Director of the Bank since
1998.  Mr. Vellutini will bring a wealth of management expertise and
experience to the new position of Vice Chairman.

At the same Board meeting the Board accepted the resignation of former
Chairman of the Board, Kip Skidmore. Mr. Skidmore decided to resign in order
to concentrate his attention on personal business matters.  Mr. Skidmore
served with distinction as founding Chairman of the Board and the Directors
thank him for his dedicated service and wish him well in his future endeavors.

Following the meeting Board Director Cecil Wetsel noted: "Mr. Martin has been
the face of the Bank to the community for eleven years.  We are now pleased
that he will also be the face of the Board to the Community."

A copy of the company's information and disclosure statement pursuant to
Securities and Exchange Commission Rule 15c2-11 can be found on the home page
of the company's website at www.bankofsacramento.com under the title Investor
Relations.

Contact: William J. Martin, CEO, 916-648-2100

This report may contain forward-looking statements that are subject to risks
and uncertainties.  Such risks and uncertainties may include but are not
necessarily limited to fluctuations in interest rates, inflation, government
regulations and general economic conditions, and competition within the
business areas in which the Company is conducting its operations, including
the real estate market in California and other factors beyond the Company's
control.  Such risks and uncertainties could cause results for subsequent
interim periods or for the entire year to differ materially from those
indicated.  Readers should not place undue reliance on the forward-looking
statements, which reflect management's view only as of the date hereof.  The
Company undertakes no obligation to publicly revise these forward-looking
statements to reflect subsequent events or circumstances.



SOURCE  Bank of Sacramento

William J. Martin, CEO of Greater Sacramento Bancorp/Bank of Sacramento,
+1-916-648-2100

 

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