Community Valley Bank Announces Retirement of President and Chief Executive Officer Robert "Bob" Hahn and Appointment of Jon Edney as Acting President and CEO
EL CENTRO, Calif.--(BUSINESS WIRE)-- Community Valley Bank (OTCBB: CMUV) hereby announces the retirement of Robert "Bob" Hahn as President and Chief Executive Officer, effective on Thursday May 16, 2012. Mr. Hahn served as the inaugural President and Chief Executive Officer from opening day (October 1, 2007) until his retirement.
Jon Edney praises Mr. Hahn for his work and dedication, "Mr. Hahn literally opened our doors on October 1, 2007. He served our bank and community during what many believe has been the most difficult economic conditions of the last eighty (80) years. During a time when over 450 banks have closed, Community Valley Bank is both still in business and has celebrated ten (10) consecutive quarters of profitability; this is a testament to Mr. Hahn in partnership with staff, the Board of Directors and most importantly our shareholders and customers. On behalf of the CVB family, we wish Mr. Hahn and his wife Sandy all the best as they have an opportunity to spend more time as a family."
Upon receipt of notification of Mr. Hahn's retirement, the Board of Directors of Community Valley Bank took action to reorganize. This included naming Mr. Jon Edney as the Acting President and Chief Executive Officer (he previously served as the Chairman of the Board) and Mr. Ron Rubin as the Chairman of the Board (he previously served as the Vice-Chairman of the Board).
In accepting the request of the Board of Directors to serve as the Acting President and Chief Executive Officer; Jon Edney states, "Our entire team has worked diligently to establish a community minded banking presence in both the Imperial County and Coachella Valley. We will continue to serve the financial needs of our customers. It is an honor to represent our Board and have the opportunity to work more closely with our staff and customers."
These actions reflect a succession plan and program previously approved by the governing regulatory agencies which oversee the operations and actions of Community Valley Bank.
About Community Valley Bank:
Community Valley Bank (www.yourcvb.com) is the Imperial Valley's ONLY locally owned and locally headquartered bank. CVB was chartered as a state bank for Imperial Valley businesses on October 1, 2007, and now has two locations, 1443 Main Street in El Centro and 310 Main Street in Brawley, California and a Loan Production Office at 77564 Building A, Country Club Drive, Ste 103 in Palm Desert, California. Community Valley Bank is a publicly traded company under the symbol CMUV. All investor related inquiries should be directed to Community Valley Bank's Chief Financial Officer, Toni Umphreyville at (760) 352-1889.
Community Valley Bank
Jon Edney, Acting President and Chief Executive Officer
KEYWORDS: United States North America California
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