Lighthouse Bank Announces Appointment of James Castellanos to the Board of Directors
SANTA CRUZ, Calif., Sept. 2, 2014 /PRNewswire/ -- Lighthouse Bank (OTC: LGHT) today announced the appointment of James Castellanos to its Board of Directors. Mr. Castellanos is the founder and owner of CASCO Property Management, owner and operator of apartment complexes in Silicon Valley and Santa Cruz County. He also serves as the Real Estate Liaison at Verifyle, Inc. in San Jose. Mr. Castellanos resides in Saratoga and Capitola, and his community involvement includes having served on the board of Disabled Sports Far West USA, the Tri-County Apartment Association and the Junior Achievement Program.
John Burroughs, Chairman of the Board of Lighthouse Bank, commented on Mr. Castellanos' appointment: "We are pleased to welcome Jim to our Board of Directors. Jim brings extensive experience in residential and commercial real estate, in both the Santa Cruz County and Silicon Valley markets. We believe his market knowledge and expertise will be an asset to Lighthouse Bank, particularly as we execute on plans to expand into the Silicon Valley market."
Lighthouse Bank has seen strong loan growth over the past six-months, attributed principally to the reorganization of the Bank's lending team in 2013. Veteran bankers Michele Bassi, Kenneth Steen, Jr., and Neil Santiago bring a breadth of experience from markets throughout Monterey, Santa Cruz, and Santa Clara Counties. The recent staffing additions coupled with James Castellanos' appointment to the Board of Directors is anticipated to contribute significantly to the Bank's plan to expand its reach into contiguous markets.
ABOUT LIGHTHOUSE BANK:
Lighthouse Bank is a locally owned and operated full-service commercial bank located in Santa Cruz, California. The Bank will mark its 7th anniversary in October 2014. Lighthouse Bank offers a full array of banking products and services to businesses, professionals, individuals, developers and commercial property owners. The Bank is dedicated to providing exceptional personalized service and access to decision makers who are always close at hand. A unique worldwide ATM fee rebate program, business courier service, and remote deposit capture technology allow the Bank to expand its geographical reach throughout Santa Cruz County and the Silicon Valley.
Lighthouse Bank's consistently strong financial results continue to place it at the top of the industry in a variety of categories including asset quality, capital adequacy, return on equity and operational efficiency. Lighthouse Bank was rated the top bank in Northern and Central California by FMC Consultants and 5th of the 215 banks in the state. The Bank is rated by Bauer financial as Five-Star "Superior" for strong financial performance, the top rating given by the independent bank rating firm. Lighthouse Bank is the only locally owned financial institution in Santa Cruz County awarded this top rating. The Findley Reports designated Lighthouse Bank as 2014 a "Super Premier" performing bank. This is the third consecutive year which the Bank has received the highest ranking given by Findley. The Bank has no financial relationship with any of these rating agencies.
Lighthouse Bank is committed to operating an open, ethical and financially successful company without engaging in the corporate excesses that have come to characterize the financial services industry. All decisions are intended to contribute to the long-term success of its clients, employees, owners and the community it serves. The Bank received no TARP funds and has neither accepted nor requested government assistance of any kind. Lighthouse Bank has never been subject to either formal or informal regulatory action.
Lighthouse Bank's stock (LGHT) is actively traded on the Over the Counter Bulletin Board via the Bank's market makers and online and full-service brokerage providers. More information on the Bank's stock and historical financial performance may be located on the Bank's website at http://lighthousebank.net/Company/StockInformation/tabid/2477/Default.aspx.
Lighthouse Bank is located at 111 Mission Street in Downtown Santa Cruz, CA. More Information on the Bank may be obtained through its website www.lighthousebank.net or by calling 831-600-4000.
Member FDIC / Equal Housing Lender / SBA Preferred Lender
The attached release may contain forward-looking statements that are subject to risks and uncertainties. Such risks and uncertainties may include but are not necessarily limited to fluctuation in interest rates, inflation, government regulations and general economic conditions, and competition within the business areas in which the Bank is conducting its operations, including the real estate market in California and other factors beyond the Bank'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 Bank undertakes no obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances.
SOURCE Lighthouse Bank
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