Heritage Oaks Announces New Chief Financial Officer
Mark Olson Joins Heritage Oaks
PASO ROBLES, Calif., Jan. 11, 2013 (GLOBE NEWSWIRE) -- Simone F. Lagomarsino,
President and CEO of Heritage Oaks Bancorp (Nasdaq:HEOP), announces the
appointment of Mark K. Olson as Executive Vice President and Chief Financial
Officer of the Company and Heritage Oaks Bank. Mr. Olson joined the company on
Monday, January 7, 2013.
"Mark is a great addition to our executive management team," stated
Lagomarsino. "We are very pleased to have someone with his level of experience
and talent join our company. Mark's strong financial background and leadership
experience are an important asset to us as we move forward."
Mr. Olson has more than 23 years of financial services industry experience. He
has been involved in all aspects of finance including financial planning and
analysis, accounting, budgeting, financial reporting, financial and management
information systems, and corporate finance. Olson will serve as a key member
of the Heritage Oaks executive team and will be responsible for directing and
overseeing the company's finance and accounting functions.
He has held a number of senior financial management positions prior to joining
Heritage Oaks Bancorp. Most recently, he served as Executive Vice President
and CFO at Pacific Capital Bancorp and its subsidiary Santa Barbara Bank &
Trust, a $6 billion community bank located on the central coast of California,
until its acquisition by UnionBanCal Corporation.
Prior to Pacific Capital Bancorp, Olson served as Vice President and Finance
Director at Goldman Sachs Bank, USA, a $120 billion commercial banking
subsidiary of Goldman Sachs Group, Inc., the fifth largest bank holding
company in the United States. He also held a number of senior financial
management positions at Westcorp, a $16 billion diversified financial services
holding company for Western Financial Bank, a federally chartered savings
bank, and WFS Financial, a nationwide automobile finance company, prior to its
acquisition by Wachovia Corporation.
Mr. Olson is a Certified Public Accountant and holds a Bachelor of Science
degree in Accounting from Utah State University. He is a member of the
American Institute of Certified Public Accountants and the California Society
of Certified Public Accountants.
About Heritage Oaks Bancorp
Heritage Oaks Bancorp is the holding company for Heritage Oaks Bank, which
operates as Heritage Oaks Bank and Business First, a division of Heritage Oaks
Bank. Heritage Oaks Bank has its headquarters plus one branch office in Paso
Robles, two branch offices in San Luis Obispo, single branch offices in Morro
Bay, Cambria, Arroyo Grande, Atascadero, Templeton, two branch offices in
Santa Maria, and a loan production office in Ventura/Oxnard. The Business
First division has one branch office in Santa Barbara. Heritage Oaks Bank
conducts commercial banking business in San Luis Obispo County, Santa Barbara
County, and Ventura County. Visit Heritage Oaks Bancorp on the Web at
www.heritageoaksbancorp.com. By including the foregoing website address,
Heritage Oaks Bancorp does not intend to and shall not be deemed to
incorporate by reference any material contained therein.
The Heritage Oaks Bancorp logo is available at
Forward Looking Statements
Certain statements contained in this press release which are not statements of
historical fact constitute forward-looking statements within the meaning of
the Private Securities Litigation Reform Act (the "Act"). Statements
concerning future performance, developments or events, management's
expectations for growth, income forecasts, sales activity for collateral, and
any other guidance on future periods, constitute forward-looking statements
within the meaning of the Act and are subject to a number of risks and
uncertainties. Actual results may differ materially from expectations
expressed in any forward-looking statements as a result of such risks and
uncertainties. Specific risks and uncertainties include, but are not limited
to, the success of Heritage Oaks Bancorp (the "Company") and Heritage Oaks
Bank (the "Bank") in fulfilling the requirements of the memoranda of
understanding entered into by the Company and the Bank, respectively, with the
Federal Reserve Bank of San Francisco, and the FDIC and California Department
of Financial Institutions, respectively, the ongoing recession in the United
States and the markets in which the Company operates, and the response of the
federal and state government and banking regulators thereto, continued growth,
the Bank's beliefs as to the adequacy of its existing and anticipated
allowances for loan losses, beliefs and expectations regarding actions that
may be taken by regulatory authorities having oversight of the Bank's
operations, interest rates and financial policies of the United States
government, continued weakness in the real estate markets within which we
operate and general economic conditions. Additional information on these and
other risk and uncertainties that could affect our business, operations and
financial results are included in the Company's Securities and Exchange
Commission filings. If any of these risks or uncertainties materializes or if
any of the assumptions underlying such forward-looking statements proves to be
incorrect, the Company's results could differ materially and adversely from
those expressed in, implied or projected by such forward-looking statements.
The Company and the Bank assume no obligation to update such forward-looking
statements and expressly disclaims any intent to do the same.
CONTACT: Simone Lagomarsino, President & CEO
Heritage Oaks Bancorp Logo
Press spacebar to pause and continue. Press esc to stop.