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First Mountain Bank Announces Retirement Plans of Two Senior Executives

BIG BEAR LAKE, Calif.--(BUSINESS WIRE)--First Mountain Bank (OTCBB:FMBP) today reported that John G. “Jack” Briner, Chairman of the Board and Chief Executive Officer (CEO), has announced that he will be retiring as CEO as of March 31, 2015. The Bank also announced that Dennis R. Saunders, President and Chief Financial Officer (CFO), will be retiring as of December 31, 2014. Mr. Saunders’ career spans nearly 40 years in the banking industry, the last 14 of which were spent with First Mountain Bank. As a result of these announcements, the board of directors will combine the roles of President and CEO into one position and will create a stand-alone CFO position. Vince Smith, chairman of the Board’s Ethics, Personnel, and Nominating Committee, will spearhead the search for a new President/CEO and CFO. Mr. Smith indicated his search will include both internal and external candidates with the plan to identify these persons as soon as possible to facilitate smooth transitions and mentoring for each position. Mr. Briner will continue in a consulting role with the Bank providing marketing and board consulting advice until October 31, 2015. Mr. Briner will also retire from the board of directors of First Mountain Bank on the earlier of June 30, 2015, or the 2015 annual meeting of shareholders. Mr. Saunders will retire from the Board in conjunction with the upcoming October annual meeting of shareholders.

Mr. Briner stated: “I have been with First Mountain Bank for nine years and when I finish my consulting role it will be ten years. Big Bear Valley has been a wonderful place to work and as I approach my fiftieth year in banking it is time to retire from the daily responsibilities and move on to other opportunities. The staff and customers of First Mountain Bank have been great. When my wife Denise and I came to Big Bear in 2005 we knew that First Mountain was a unique bank heavily involved in supporting the community and providing quality service to the local businesses and residents. Big Bear is an incredibly beautiful place for my dedicated staff—a great team, a team of champions—to work.”

Vince Smith, Director of First Mountain Bank, stated: “Jack and Dennis have provided many years of effective leadership to the Bank. Thanks to their efforts and those of our capable management team and dedicated employees, the Bank has survived the recent economic recession and has emerged profitable and well capitalized. First Mountain Bank is positioned for a strong and renewed commitment to our communities with new products and expanding technologies. Jack and Dennis will be missed. Their leadership will not be easy to replace, but the Board is confident it will identify qualified candidates that will continue the community bank service our customers expect. The Board is especially pleased that Jack will be with us providing his advice and marketing skills through late 2015 for the benefit of the new President/CEO as well as the Bank.”

First Mountain Bank is headquartered in Big Bear Lake and has three offices serving the Big Bear and high desert areas of Southern California. For further information contact Jack Briner, Chairman/CEO, at (909) 866-5861 or Vince Smith, Director, at (909) 838-5224.

Contacts

First Mountain Bank
Jack Briner, Chairman/CEO,
909-866-5861
or
Vince Smith, Director
909-838-5224