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SCVBank Announces Elliott Promoted to Executive
SANTA PAULA, CA. January 16, 2007-Michael D. Hause, President/CEO of Santa Clara Valley Bank (SCVBank) announced that Charles E. Elliott, Jr., the Bank's Chief Credit Officer, has been promoted to Executive Vice President.
Mr. Elliott's significant accomplishments since joining the Bank include achieving Preferred Lender Program (PLP) status for its SBA loan program, growing the loan portfolio in 2006 by over 45%, and enhancing the Bank's construction loan program. Under Elliott's supervision, the Bank's loan portfolio continues to reflect minimal delinquencies, no non-performing loans, and virtually zero loan chargeoffs in 2006.
Mr. Elliott previously held the position of Executive Vice President, Chief Credit Officer for International City Bank in Long Beach. He was also the Chief Credit Officer for City Commerce Bank in Santa Barbara, and served as the President/ CEO of Channel Islands National Bank. He had experience at Bank of Montecito and early in his career with Security Pacific Bank.
"Among Mr. Elliott's strengths is his ability to craft a loan structure that will benefit the customer and mitigate credit risk to the Bank. His hands-on approach has benefited dozens of new Bank customers", stated Mike Hause. "Chuck has also contributed significantly to the Bank's senior management team. His vast banking experience and keen decision making abilities provide leadership that strategically benefits SCVBank now and into the future".
Mr. Elliott, a native of Southern California earned a Bachelor's Degree from University of California, Riverside. Chuck is also a graduate of the Pacific Coast Banking School, which is associated with the University of Washington in Seattle. He and his wife Ann live in East Ventura.
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Founded in 1998, Santa Clara Valley Bank has offices in Santa Paula, Fillmore, and Valencia. Under its stock symbol of SCVE.OB, Santa Clara Valley Bank's stock is traded through Wedbush Morgan Securities, and Howe Barnes Hofer & Arnett. The Bank's web site is www.SCVBank.com .
Santa Clara Valley Bank Corporate Headquarters
901 East Main Street
Santa Paula, California 93060
805-525-1999
Statements concerning future performance, developments or events concerning expectations for growth and market forecasts, and any other guidance on future periods, constitute forwardlooking statements that are subject to a number of risks and uncertainties. Actual results may differ materially from stated expectations. Specific factors include, but are not limited to, the effect of interest rate changes, the ability to control costs and expenses, the impact of consolidation in the banking industry, financial policies of the United States government, and general economic conditions. Additional information on these and other factors that could affect financial results are included in filings with the Office of the Comptroller of the Currency, Washington, D.C.
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