Cornerstone Community Bancorp’s Board of Directors Announce that Jeffrey P. Finck Will Assume the Position of Executive Chairman and Matthew B. Moseley Will Assume the Position of President and CEO Effective July 1, 2022

RED BLUFF, Calif.--(BUSINESS WIRE)--Cornerstone Community Bancorp (OTC Pink: CRSB) announced today that Jeffrey P. Finck will assume the position of Executive Chairman and Matthew B. Moseley will assume the position of President and Chief Executive Officer and be appointed as a Director to Cornerstone Community Bancorp and Bank effective July 1, 2022.

Mr. Finck has served as Bank’s President/CEO and Director since 2008. Additionally, Mr. Finck has served as President/CEO and Director of Cornerstone Community Bancorp since the formation of the Holding Company in 2015. During Mr. Finck’s tenure, the bank has grown in total assets of approximately $500 million to over $560 million. Board Chairman, Les Melburg stated, “The bank has experienced significant growth in assets and profitability under Jeff’s leadership. The bank was ranked as the number 1 performing bank in the State of California through the 3^rd quarter 2021 by the Financial Management Consulting Group and was recognized by CB Resources, Inc. in the top 5% for all banks nationally with assets of $500 to $999 million.”

Mr. Moseley joined the bank in August 2011 as a Senior Vice President/Credit Administrator and has served as bank’s Executive Vice President/Chief Lending Officer, Executive Vice President/Chief Banking Officer and since 2019 has held the position of Executive Vice President/Chief Credit Officer. Mr. Moseley is an honors graduate of Simpson University and an honors graduate of Pacific Coast Banking School. He and his wife Anna reside in Palo Cedro with their daughter. Mr. Finck, stated “Matt is a proven bank executive with strong industry knowledge and deep community ties. I know his talents and dedication to Cornerstone will continue to move the bank forward for the benefit of shareholders, employees, bank customers and the communities we serve.”

About Cornerstone Community Bancorp

Cornerstone Community Bancorp, a bank holding company headquartered in Red Bluff, California, serves the Red Bluff and Redding communities through its wholly-owned subsidiary, Cornerstone Community Bank with a headquarters office in Red Bluff, two banking offices in Redding and a banking office (opening January 2022) in Anderson. The Bank provides commercial banking services to small and mid-size businesses, including professional service firms, real estate developers and investors and not-for-profit organizations and to their owners and other individuals. Additional information about the Bank is available on its website at www.bankcornerstone.com.

Forward-Looking Statements

Forward-Looking Statements This release may contain certain forward-looking statements that are based on management's current expectations regarding economic, legislative, and regulatory issues that may impact Cornerstone Community Bancorp's earnings in future periods. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include the words “believe,” “expect,” “intend,” “estimate” or words of similar meaning, or future or conditional verbs such as “will,” “would,” “should,” “could” or “may.” Factors that could cause future results to vary materially from current management expectations include, but are not limited to, natural disasters (such as wildfires and earthquakes), pandemics such as COVID-19 and the economic impact caused directly by the disease and by government responses thereto, general economic conditions, economic uncertainty in the United States and abroad, changes in interest rates, deposit flows, real estate values, costs or effects of acquisitions, competition, changes in accounting principles, policies or guidelines, legislation or regulation (including the Tax Cuts & Jobs Act of 2017 and the Coronavirus Aid, Relief and Economic Security Act of 2021), interruptions of utility service in our markets for sustained periods, and other economic, competitive, governmental, regulatory and technological factors (including external fraud and cybersecurity threats) affecting Cornerstone Community Bancorp's operations, pricing, products and services. Forward-looking statements speak only as of the date they are made. Except as required by law, Cornerstone Community Bancorp does not undertake to update forward-looking statements to reflect subsequent circumstances or events.