LOS ANGELES, CA – February 27, 2014 - Pacific Commerce Bank (OTCQB: PFCI) today reported that its Founder, Kenneth Kasamatsu will be retiring effective April 1, 2014. Along with several local community leaders, including current Board member, Henry Ota; Mr. Kasamatsu founded Pacific Commerce Bank on October 10, 2002 in the Little Tokyo section of Los Angeles. Mr. Kasamatsu served as the Bank's first president and chief executive officer and has been instrumental in Pacific Commerce Bank's active leadership role in the local Japanese-American community over the past twelve years.
"Ken has been an outstanding ambassador for Pacific Commerce Bank within the local community and his leadership and guidance have been invaluable to all of us here at the Bank," said President and CEO, Scott Andrews. "We wish Ken the best in his retirement, as he pursues his passion for teaching and sharing of his experiences over a long and distinguished 45-year banking career."
"Ken was the driving force behind the establishment of Pacific Commerce Bank, and on behalf of the Board of Directors, we want to thank Ken and commend him for all of his many accomplishments," commented Chairman Thomas Iino.
About Pacific Commerce BankEstablished in 2002, Pacific Commerce Bank is a business-focused community bank with offices in downtown Los Angeles, West Los Angeles and San Diego. Further information about the Bank can be found on its website: www.pacificcommercebank.com
Forward Looking Information The financial information in this press release is based on unaudited financial results. Certain statements in this press release are "forward-looking" statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Such forward-looking statements are subject to risks and uncertainties and therefore the bank's actual results may differ materially from those expressed or implied by such forward-looking statements. The risks and uncertainties that the bank is subject to include, but are not limited to, risks related to the local and national economy, including fluctuations in interest rates and costs and changes in economic policy; the ability of the bank to perform in accordance with its plans; competition; and regulatory matters. The bank cautions readers not to place undue reliance on any forward-looking statements. The bank does not undertake, and specifically disclaims any obligation, to revise any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.
For more information, contact: Pacific Commerce BankScott R. AndrewsChief Executive Officer213-617-0082
SOURCE: Pacific Commerce Bank