CalWest Bancorp Expands Board of Directors, Continues Growth in Southern California

IRVINE, Calif.--()--CalWest Bancorp (OTCBB: CALW), the holding company for South County Bank N.A., today announced the election of six new directors to its Board of Directors at the 2016 Annual Meeting of Shareholders. They join CalWest Bancorp and South County Bank President and CEO Glenn Gray, and Electronic Cash Systems President Fadi Cheikha on the now eight-member board as the Bank continues its growth trajectory following a successful recapitalization in December 2015.

“We bring white glove service, which includes our experience and advice on critical business issues, to help small and midsized businesses throughout Southern California grow and prosper. The new board members add significant business acumen that we will tap into for our customers and investors,” said Glenn Gray, President and CEO of CalWest Bancorp and South County Bank.

CalWest Bancorp today has four branches: South County Bank in Rancho Santa Margarita and Irvine, as well as Surf City Bank in Huntington Beach and Inland Valley Bank in Redlands. Additional details on the branch services can be found at http://www.southcountybank.com/business-solutions.html.

Kenneth Karmin is the newly appointed Chairman. Karmin brings extensive banking and investment expertise and is Principal of High Street Holdings. He is also CEO of Ortho Mattress Inc. with over 65 stores in Southern California. Karmin is joined by five well-known business leaders.

  • William Black, Managing Partner, Consector Capital, LP, a veteran of the financial services industry who is a Chartered Financial Analyst and member of the New York Society of Securities Analysts;
  • Jonathan Glaser, Founder and Managing Member, JMG Capital Management LLC, who has been serving on Hudson Pacific Properties’ Board of Directors since its initial public offering;
  • Clifford W. Lord Jr. (“Kip”), Managing Partner, PRG Investment and Management, who brings more than 20 years of global real estate investment and management experience;
  • Richard Mandel, Founder and President, Ramsfield Hospitality Finance, a well-known veteran of deal origination and capital formation having been at the forefront of over $300 million of hotel debt and equity investments; and
  • Jeremy Zhu, Founder and Managing Director, Wedbush, LLC and Senior Vice President of Wedbush Inc., who delivers significant knowledge on both community banking and strategic growth initiatives.

“We see tremendous potential in the demand for high-touch business banking in California. Businesses are booming and demand and deserve high-quality banking services that only a bank like ours can deliver,” said Kenneth Karmin, CEO, Ortho Mattress Inc. and Principal of High Street Holdings. “Our branch managers and employees know customers by face and name, which defines community banking. The one thing we understand is that in this business, our interests are completely aligned with those of our customers.”

Contact CalWest Bancorp with questions or visit us on Twitter or Facebook. Photos of the new directors can be downloaded at: http://tinyurl.com/zythu5v.

About CalWest Bancorp

CalWest Bancorp is the parent company of South County Bank, a community bank recognized for its exemplary service to entrepreneurs, high net worth individuals and non-profit organizations located throughout Southern California. The Bank serves the business community through its four branches located in Rancho Santa Margarita, Irvine, Huntington Beach and Redlands. Visit http://www.southcountybank.com/ for more information.

Contacts

For CalWest Bancorp
Kaitlen Murphy, 310-824-9000
kmurphy@olmsteadwilliams.com

Release Summary

CalWest Bancorp (OTCBB: CALW), the holding company for South County Bank N.A., today announced the election of six new directors to its Board of Directors at the 2016 Annual Meeting of Shareholders.

Contacts

For CalWest Bancorp
Kaitlen Murphy, 310-824-9000
kmurphy@olmsteadwilliams.com