Coronado First Bank Clarifies Release Regarding Stickel Resignation

CORONADO, Calif., (BUSINESS WIRE) —-Bill Huck, the Chairman of Coronado First Bank’s (the “Bank”) (OTCBB:CDFB) Board of Directors, clarified the Bank’s recent press release regarding the resignation from the Board of the Bank’s founder and former Chairman, Tom Stickel. Mr. Huck stated that Mr. Stickel’s principal reason for resigning was disagreement with the Bank’s decision to open a branch office in downtown San Diego at this time. “Tom felt strongly that the economic and banking climates make this the wrong time to open downtown. He preferred for the Bank to remain in Coronado for now. However, the majority of the Board felt that the present uncertainties will make a strong, local bank, an even more attractive option for people who may be anxious about certain large, out-of-town financial institutions that seem to confront new challenges every day,” said Huck. Coronado First Bank plans to open a branch at the corner of India and Ash in downtown San Diego approximately July 1st. 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. 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. SOURCE: Coronado First Bank Coronado First Bank Bruce Ives, 619-437-1000