LAKEWOOD, Colo., Feb. 24, 2017 (GLOBE NEWSWIRE) -- Solera National Bancorp, Inc. (OTC:SLRK), the holding company for Solera National Bank (the “Bank”), a business-focused bank primarily serving the Denver metropolitan area, announced today that the Formal Agreement entered into on November 18, 2014 with the Office of the Comptroller of the Currency (“OCC”), the Bank’s primary regulator, has been lifted. Board and management have improved the policies, procedures and practices and the Bank is operating in a safe and sound manner.
“We are pleased that the Board, management and staff’s significant efforts over the last two years have resulted in a substantially stronger Solera National Bank. These efforts have now formally been recognized by the OCC. We look forward to continuing to generate profits for our shareholders, excellent service for our clients, and a rewarding workplace for our team,” commented Martin P. May, President and Chief Executive Officer.
“We’d like to thank our shareholders and our Board of Directors for their perseverance and support as we transitioned to a new era for Solera. With nine consecutive profitable quarters, a 60% increase in our stock price and now the lifting of this agreement, we are poised for solid growth and we have the capital and the team to do it,” said Michael Quagliano, Chairman of the Board.
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 primarily in the Front Range of Colorado. 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 our community through service, education and volunteerism. For more information, please visit http://www.SoleraBank.com.