American Perspective Bank Announces Director Change to Emeritus Status

Dec 30, 2010, 16:15 ET from American Perspective Bank

SAN LUIS OBISPO, Calif., Dec. 30, 2010 /PRNewswire-FirstCall/ -- American Perspective Bank (OTC Bulletin Board: APBA) (the "Bank") today announced that founding director David R. Booker has decided to convert to director emeritus status effective December 31, 2010.  Mr. Booker, age 65, was instrumental in the organization and formation of the Bank in 2006.  Mr. Booker was the Bank's first Chief Executive Officer and has served as a director since the Bank's incorporation in 2007.  Mr. Booker previously served as a founding director of First Bank of San Luis Obispo and also as its Chief Executive Officer.

Mr. Booker is the Bank's first director emeritus, a title granted to former directors who, while no longer formally serving on the Board of Directors, wish to continue to actively support the Bank.  Mr. Booker has entered into a consulting services agreement with the Bank whereby he will assist with business development and client retention.

Commenting on this announcement, Thomas J. Madden III, the Bank's Chairman of the Board, stated:  "We understand Dave's desire to become a director emeritus.  Throughout his over 30 years of involvement in the financial services industry, Dave has maintained a wide range of personal interests and participated in many community organizations and programs.  We recognize Dave's now wanting to be able to allocate more time to those endeavors.  Dave has been instrumental in building the Bank over the last three years into a financially sound institution with a balance sheet exceeding $200 million in total assets.  We look forward to continuing to work with Dave in his new consulting role and through the Bank's Shareholders Advisory Circle.  I would like to acknowledge and thank Dave for his years of service to the Bank."

Mr. Booker then added:  "I look forward to continuing to support the Bank's growth, while at the same time having a less rigorous schedule that provides more personal flexibility."

The Bank's target markets are commercial enterprises, professionals, real estate investors, family business entities, and residents in San Luis Obispo County and northern Santa Barbara County.  The Bank's San Luis Obispo office is located at 4051 Broad Street, Suite 140, San Luis Obispo, California, near the intersection of Broad Street (Highway 227) and Tank Farm Road.  The Bank's Santa Maria office is located at 2646 Santa Maria Way, Suite 101, Santa Maria, California, near the intersection of Santa Maria Way and Broadway.  The Bank's deposits are insured by the FDIC up to applicable legal limits.

Certain of the statements contained herein that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act.  Forward-looking statements are typically identified by words or phrases such as "believe," "expect," "anticipate," "intend," "estimate," "target," "plans," "may increase," "may fluctuate," "may result in," "are projected," and similar expressions.  The Bank's actual results may differ materially from those included in the forward-looking statements.  These forward-looking statements involve risks and uncertainties including, but not limited to, the economic, business, and real estate market conditions in the Bank's market areas, the interest rate environment, competition, regulatory and legislative actions, the possibility that the Bank will not be successful in achieving its strategic objectives, the performance and contributions of employees and directors, and other factors.  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.

This news release is available at the Internet site for no charge.

SOURCE American Perspective Bank