Solera Announces Reduction in the Size of Its Board of Directors and
Withdrawal of Shareholder-Nominated Director Candidates
LAKEWOOD, Colo., May 16, 2014 (GLOBE NEWSWIRE) -- Solera National Bancorp,
Inc. (OTCQB:SLRK) ("Solera," the "Company," "we," or "us"), the holding
company for Solera National Bank, today announced that Norma Akers and Basil
Sabbah will not be standing for re-election at the Company's 2014 annual
meeting of stockholders and that Ron Montoya and Stanley Sena have elected to
resign from the Company's board of directors. The board does not intend to
propose alternative nominees in place of these directors; instead, it will
reduce the size of the board to seven. Therefore, its director nominees at the
annual shareholders' meeting, which will be held on May 22, 2014, will be John
Carmichael, Maria Arias, Ron Eller, Ray Nash, Dave Roberts, Larry Trujillo and
Kent Veio. Mr. Carmichael, Chief Executive Officer, stated "In the course of
our conversations with shareholders, some have expressed concerns about the
size of the board. These directors have responded to this concern by leaving
the board. We sincerely thank them for their service over the years."
The Company also announced that it has received notice from Kathleen Stout
that Ms. Stout has withdrawn her nomination of eight candidates for election
as directors at the upcoming annual meeting.
No matter how many shares you own, your vote is very important to us. To
follow the Solera board's recommendations, shareholders should vote on the
WHITE proxy card today FOR all the Company's director nominees.
If you have any questions, require assistance in voting your WHITE proxy card,
or need additional copies of Solera's proxy materials, please call Alliance
Advisors LLC at the phone numbers listed below.
ALLIANCE ADVISORS LLC
200 Broadacres Drive, 3^rd Floor
Bloomfield, NJ 07003
Banks and Brokers Call Collect: (973) 873-7721
Shareholders Call TOLL-FREE: (855) 737-3177
About Solera National Bancorp, Inc.
Solera National Bancorp, Inc. was incorporated in 2006 to organize and serve
as the holding company for Solera National Bank, which opened for business in
September 2007. Solera National Bank is a community bank serving emerging
businesses in Lakewood, Colorado with five additional loan production offices
throughout the state. At the core of Solera National Bank is welcoming,
inclusive and respectful customer service, a focus on supporting a growing and
diverse Colorado economy, and a passion to serve the Hispanic community
through service, education and volunteerism. For more information, please
CONTACT: Solera National Bancorp, Inc.
John P. Carmichael, President & CEO
Press spacebar to pause and continue. Press esc to stop.