Contact Information: Media Contact: John Nerland President & CEO (805) 413-0111
Richard Quiggins Named as New Chief Credit Officer of California Oaks State Bank
| Source: California Oaks State Bank
THOUSAND OAKS, CA--(Marketwire - August 26, 2008) - California Oaks State Bank (Cal Oaks)
(OTCBB : COSB ) announces that Richard S. Quiggins II has joined the bank as
Executive Vice President and Chief Credit Officer. Mr. Quiggins, a
well-respected banking veteran, brings more than 30 years of community,
regional, national, and international credit and lending experience to Cal
Oaks.
"I look forward to working with Richard as we continue to implement a
prudent credit culture as a strong foundation for our organization's future
growth. Richard will be instrumental to Cal Oak's success," said John
Nerland, President and Chief Executive Officer.
"I am pleased to join a company as completely committed to maintaining the
highest standards for credit quality, while serving the community needs of
Thousand Oaks. This is an exciting opportunity to utilize my experience in
evaluating and managing credit risk in the current challenging marketplace,
while contributing to the institution's becoming the premier business bank
in Ventura County, as well as a powerful community resource," said Mr.
Quiggins, EVP and Chief Credit Officer.
Mr. Quiggins will be responsible for ensuring credit quality throughout the
bank. He will oversee the bank's credit policies and procedures, evaluate
risk and enhance credit training.
Most recently, Mr. Quiggins served as Chief Credit Officer of Maryland Bank
& Trust. Previously, he served in various senior management roles with the
First National Bank of Maryland including Chief Credit Officer for Real
Estate, as well as Division Head of the Commercial Credit, Corporate
Banking and Latin American Divisions. Prior to that, he was an officer of
The Chase Manhattan Bank, N.A. in New York, Panama and Costa Rica. Mr.
Quiggins holds a Bachelor's degree in political science and economics from
the University of Alabama and a Master's degree in international relations
and economics from the University of Virginia.
About California Oaks State Bank
California Oaks State Bank, with total assets of $123.8 million, was
founded in 1998 and is a locally owned community bank. Its locations in
Thousand Oaks and Simi Valley serve both business and professional services
customers. The bank provides a full range of products and services
including commercial and real estate loans as well as cash management
products and deposit services. Its unique capability in diversified lending
in addition to its customary community bank credit products help its
customers meets their cash management goals. The bank has earned a
reputation for its expertise in commercial lending. For additional
information, visit www.caloaks.com.