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 Stout has withdrawn her nomination of eight candidates for election as directors at the upcoming annual meeting.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 visit http://www.SoleraBank.com. CONTACT: Solera National Bancorp, Inc. John P. Carmichael, President & CEO (303) 937-6422
Solera Announces Reduction in the Size of Its Board of Directors and Withdrawal of Shareholder-Nominated Director Candidates
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