LAKE HAVASU CITY, Ariz., Aug. 01, 2017 (GLOBE NEWSWIRE) -- State Bank Corp. (OTCQB:SBAZ) (“Company”), the holding company for Mohave State Bank (“Bank”), today announced that Peter J. Hill has joined the bank as Executive Vice President and Chief Credit Officer. Hill will oversee all credit functions of the bank.
“We are excited and privileged to have Pete join our executive team. With over 35 years of experience in commercial banking and responsibilities in all areas of lending and credit administration, he brings significant expertise and provides additional capabilities and depth to our executive team as we develop our plans for future growth and expansion,” said Brian M. Riley, President and Chief Executive Officer. “Pete’s successful career and local market knowledge will make him a valuable asset to our company.”
Hill last served as Executive Vice President, Chief Credit Officer, and Director of Credit Administration with National Bank of Arizona, which he joined in 1994. He started his banking career at Valley National Bank. After leaving National Bank in 2013, Hill served as the Chief Operating Officer of the Thunderbird School of Global Management, which he successfully merged into Arizona State University. Hill holds a bachelors degree in Finance and MBA from Arizona State University and is a graduate of the Pacific Coast Banking School.
About the Company
State Bank Corp., headquartered in Lake Havasu City, Arizona, is the parent company of Mohave State Bank, the largest locally-owned bank in Mohave County. Mohave State Bank is a full-service bank providing deposit and loan products, and convenient on-line banking to individuals, businesses and professionals. The Bank was established in October 1991, and the holding company was formed in 2004. The Bank has nine full-service branches: two in Lake Havasu City, two in Kingman, two in Prescott, one in Bullhead City, one in Prescott Valley, and one in Cottonwood, Arizona. The Company is traded over-the-counter as SBAZ.
Forward Looking Statement
This press release may include forward-looking statements about State Bank Corp. and Mohave State Bank. These statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such risks and uncertainties include, but are not limited to, the following factors: the expected cost savings, synergies and other financial benefits from the completed merger might not be realized within the expected time frames or at all. Annualized, pro forma, projected and estimated numbers in this press release are used for illustrative purposes only, are not forecasts and may not reflect actual results. All forward-looking statements included in this press release are based on information available at the time of the release, and State Bank Corp. and Mohave State Bank assume no obligation to update any forward-looking statements.