SUN VALLEY, Calif., June 5, 2012 /PRNewswire/ -- Mission Valley Bancorp (parent company of Mission Valley Bank (OTCBB: MVLY)) announced that investment professional John Miller has been elected to the Board of Directors for both the Bancorp and the Bank.
President and CEO, Tamara Gurney stated, "With the recent departure of long time Board Member John Richardson, we had an opening on our Board of Directors. We immediately thought of John Miller, who was an original investor in our Bank. He has followed us closely over the years, and is very familiar with our organization." Since 2000, Mr. Miller has provided financial advisory and consulting services to a number of community banks. In addition, he has monitored and invested in numerous community banks around the Country, primarily in the West, and has served on several bank boards. "I am confident that his experience and knowledge of the industry will prove very beneficial to Mission Valley, particularly in these challenging times, and we are excited to welcome him to our team," Gurney said. Mr. Miller earned a Bachelor's Degree from the University of Notre Dame in Economics and Philosophy.
Mission Valley Bank is a full-service, independent, commercial bank specializing in the banking needs of small to medium businesses in the San Fernando & Santa Clarita Valleys. The Bank was chartered in July 2001, with a vision of local ownership and a commitment to providing financial solutions to meet the needs of its clients. The Bank continues to far exceed all requirements as a well-capitalized institution with a Total Risk Based Capital Ratio of 19.2% (as of 3/31/2012) – far exceeding the federal guideline of 10% to maintain Well Capitalized status.
Certain matters discussed in this news release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based upon current management expectations and, therefore, are subject to certain risks and uncertainties that could cause actual results, performance, or achievements to differ materially from those expressed, suggested, or implied by the forward-looking statements. Forward-looking statements are effective only as of the date that they are made and Mission Valley Bank assumes no obligation to update this information.
SOURCE Mission Valley Bancorp