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Doug Crichfield Retires as President/CEO of Solera National Bancorp

 

July 30 - Solera National Bancorp Inc. (OTCQB:SLRK), the holding company for Solera National Bank in Lakewood, Colo., has announced that Douglas Crichfield has retired as president and CEO. Ray L. Nash, who has served on the board since its inception, has been named interim president and CEO until a new person is hired.

"Doug has ably led Solera though a very difficult economic period," said Ronald E. Montoya, chairman. "We can understand Doug's desire to take life easier now that Solera is on solid footing."

Crichfield was named president and CEO in the fall of 2008 when the bank had less than $55 million in assets; it now has over $170 million. "Among his many accomplishments, Doug led the recent addition of Residential Mortgage of Colorado to our bank, improving our profitability and adding a significant business segment to our franchise.

"We had a great quarter, in fact our best ever, and are well-positioned for growth in our core banking business and our new mortgage business," Montoya added. "The board will immediately begin searching for a successor president and CEO."

"It has been a pleasure working with the team at Solera. I am proud of having successfully taken this bank through an extremely difficult economic period, positioned it for significant growth and delivered record quarterly earnings," said Crichfield.

Nash, who is 61, was chief financial officer at Vectra Banking from 1989 until 1998 when it was acquired by Zions Bancorporation. Nash continued to work at Vectra until 2000. While with Vectra he participated in all aspects of the bank's strategic planning and managed several stock offerings. Prior to Vectra, he was Controller of the WestAmerica Mortgage Company.

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 on Sept. 10, 2007. Solera National Bank is a high-touch, high-tech community bank with a specialized focus on serving and supporting small to medium-sized businesses, minorities, particularly the Hispanic market, professionals, non-profits and markets who share an interest in working together through mutual respect and inclusiveness to grow the Colorado economy. It prides itself in delivering personalized customer service - one individual, one business, one community at a time. For more information, visit www.solerabank.com.



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