CalPrivate Bank Announces New Chief Credit Officer

LA JOLLA, Calif., May 13, 2025 (GLOBE NEWSWIRE) -- Private Bancorp of America, Inc. (OTCQX:PBAM) ("Company"), the parent company of CalPrivate Bank ("Bank") announced the appointment of Andrew K Meitzen as the Bank's new Executive Vice President and Chief Credit Officer. Mr. Meitzen brings impressive skills and diverse experience working in the banking industry at both community banks and the Office of the Comptroller of the Currency $(OCC)$ with an emphasis in lending, credit, and enterprise risk management.

Rick Sowers, President and Chief Executive Officer of the Company and Bank stated, "We are excited to have Andrew join our team bringing his expertise in disciplined credit and deal structuring, along with the technical acumen to navigate the ever-evolving credit landscape of today's economy."

"I am honored to be joining the CalPrivate Team and excited to contribute to the ongoing success of the Bank and its Clients," said Mr. Meitzen. "The core values of Relationships, Solutions and Trust resonate with me and are the perfect foundation for continued growth."

About Private Bancorp of America, Inc.

Private Bancorp of America, Inc. (OTCQX: PBAM) PBAM is the holding company for CalPrivate Bank, which operates offices in Coronado, San Diego, La Jolla, Newport Beach, El Segundo, Beverly Hills, and soon Montecito, as well as through efficient digital banking services. CalPrivate Bank is driven by its core values of building client Relationships based on superior client Solutions, unparalleled Service, and mutual Trust. The Bank caters to high-net-worth individuals, professionals, closely held businesses, and real estate entrepreneurs, delivering a Distinctly Different$(TM)$ personalized banking experience while leveraging cutting-edge technology to enhance our clients' evolving needs. CalPrivate Bank is in the top tier of customer service survey ratings in the nation, scoring almost three times higher than the median domestic bank. The Bank offers comprehensive deposit and treasury services, rapid and creative loan options including various portfolio and government-guaranteed lending programs, cross border banking, and innovative, unique technologies that drive enhanced client performance. CalPrivate Bank has been recognized by Bank Director's RankingBanking$(R)$ as the 10th best bank in the country and the #1 bank in its asset class for both return on assets (ROA) and return on equity $(ROE)$. CalPrivate Bank was also ranked in the top 5% of banks in the U.S. with assets between $2B and $10B by American Banker. Additionally, CalPrivate Bank is a Bauer Financial 5-star rated bank, an SBA Preferred Lender, and has been honored as Community Bank SBA 504 Lender of the Year by the NADCO Community Impact Awards, exemplifying excellence in the banking industry. These prestigious rankings highlight the Bank's commitment to delivering exceptional banking services and setting new industry standards.

Learn more at www.calprivate.bank.

Investor Relations Contact

Rick Sowers

President and CEO

Private Bancorp of America, Inc.

(424) 303-4894

Safe Harbor Paragraph

This press release contains expressions of expectations, both implied and explicit, that are "forward looking statements" within the meaning of such term in the Private Securities Litigation Reform Act of 1995. We caution you that a number of important factors could cause actual results to differ materially from those in the forward-looking statements, especially given the current turmoil in the banking and financial markets. These factors include the effects of depositors withdrawing funds unexpectedly, counterparties being unable to provide liquidity sources that we believe should be available, loan losses, economic conditions and competition in the geographic and business areas in which Private Bancorp of America, Inc. operates, including competition in lending and deposit acquisition, the unpredictability of fee income from participation in SBA loan programs, the effects of bank failures, liquidations and mergers in our markets and nationally, our ability to successfully integrate and develop business through the addition of new personnel, whether our efforts to expand loan, product and service offerings will prove profitable, system failures and data security, whether we can effectively secure and implement new technology solutions, inflation, fluctuations in interest rates, legislation and governmental regulation. You should not place undue reliance on forward-looking statements, and we undertake no obligation to update those statements whether as a result of changes in underlying factors, new information, future events or otherwise. These factors could cause actual results to differ materially from what we anticipate or project. You should not place undue reliance on any such forward-looking statement, which speaks only as of the date on which it was made. Although we, in good faith, believe the assumptions and bases supporting our forward-looking statements to be reasonable there can be no assurance that those assumptions and bases will prove accurate.

(END) Dow Jones Newswires

May 13, 2025 17:26 ET (21:26 GMT)