Mission Valley Bank Announces the Appointment of Jeffrey Watson as Executive Vice President Strategic Initiatives

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Sep 18, 2018, 06:00 ET

SUN VALLEY, Calif., Sept. 18, 2018 /PRNewswire/ -- Tamara Gurney, President and CEO of Mission Valley Bank and Bancorp announced the recent appointment of Jeffrey Watson as Executive Vice President Strategic Initiatives.

Gurney stated, "We are pleased to announce that Jeffrey Watson has joined the Mission Valley Bank team as Executive Vice President—Strategic Initiatives. Jeff is a seasoned banking professional who brings a wealth of knowledge and experience in all areas of bank management and operations. The first initiative Jeff will oversee for Mission Valley Bank is the launch of a new Loan Production Office located in the South Bay area of Los Angeles." The office is slated to open Oct. 1, 2018 located at 21515 Hawthorne Blvd. in Torrance.

"While this is a relatively new market for Mission Valley Bank, Jeff's knowledge of the South Bay, along with his industry and business connections, will be instrumental in the success of this new endeavor. Under his leadership, we expect to grow client relationships throughout the region that will assist in increasing both loans and deposits while also helping to diversify the Bank's existing loan portfolio with additional C & I and asset-based lending products." Gurney stated.

Gurney continued, "I am also very pleased to announce that Thomas Fiebig has joined us as Vice President and Manager of the new Loan Production Office. Tom shares a long and distinguished career in commercial lending throughout the region and we are fortunate to have his energy and expertise for the launch of this office."

Gurney concluded, "The addition of these two skilled banking professionals to our team is part of the Bank's long term strategy of continuing to build our infrastructure in order to address the ongoing challenges facing our industry with new and rapidly evolving technologies and competition. We view this as an investment in the Bank's future – and while it will increase expenses in the short term, we are confident that it will provide long term benefits and opportunities for the Bank and its shareholders."

Mission Valley Bancorp is traded on the OTCQX under the symbol MVLY.

About Mission Valley Bank
Mission Valley Bank is a full-service, independent, commercial bank specializing in the banking needs of small to medium businesses in the San Fernando & Santa Clarita Valleys. The Bank was chartered in July 2001, with a vision of local ownership and a commitment to providing financial solutions to meet the needs of its clients. www.MissionValleyBank.com

Forward-looking statements:
Certain matters discussed in this news release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based upon current management expectations and, therefore, are subject to certain risks and uncertainties that could cause actual results, performance, or achievements to differ materially from those expressed, suggested, or implied by the forward-looking statements. Forward-looking statements are effective only as of the date that they are made and Mission Valley Bank assumes no obligation to update this information.

SOURCE Mission Valley Bancorp