CORONADO, Calif.–(BUSINESS WIRE)–Bruce Ives, President and CEO of Coronado First Bank (the “Bank”) (OTCBB: CDFB) announced today that the Bank has signed a lease to establish a new branch in downtown San Diego at 1370 India St. at the corner of Ash and India. The space is 2,000 square feet and will house a full service branch. As part of the lease, the Bank has also acquired naming rights to the building. The branch is scheduled to open on July 1st. Ives said, “We are very excited about the opportunity to expand Coronado First Bank’s delivery channel beyond our Island home and provide superior banking service to the residents of San Diego County. This will give us an expanded market in which to grow our assets in a prudent fashion that will result in enhanced shareholder value. We have been diligent in building the Bank in a stable and consistent fashion with a focus on credit quality. We are now in a position to implement a strategic plan that allows us to take advantage of significant market opportunities with continued emphasis on measured growth and bottom line results.” The Bank also announced that Tom Stickel has resigned from its Board of Directors to pursue other business opportunities. Bill Huck, the Bank’s current Chairman of the Board said, “The Board appreciates Tom’s leadership and vision as the founding Chairman of Coronado First Bank and wishes him well in his future business ventures.” The Board also plans to hold the Bank’s annual shareholder meeting at the end of July. Coronado First Bank is publicly traded on the Over-the-Counter Bulletin Board, ticker symbol: “CDFB”. For more information on the Bank please contact: Bruce Ives at 619-437-1000 www.coronadofirst.com This press release includes forward-looking statements that involve inherent risks and uncertainties. Coronado First Bank cautions readers that a number of important factors could cause actual results to differ materially from those in the forward-looking statements. These factors include economic conditions and competition in the geographic and business areas in which Coronado First Bank operates, inflation, fluctuations in interest rates, legislation and governmental regulation. We make no promise to update any forward-looking statement, whether as a result of changes in underlying factors, new information, future events or otherwise.
