Pacific West Bancorp ("PWBK") announces Leadership Promotions: Transition of CEO, Promotion of President to CEO, and Key Leadership Appointments

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May 03, 2024, 16:00 ET

PORTLAND, Ore., May 3, 2024 /PRNewswire/ -- Pacific West Bancorp, the holding company of Pacific West Bank ("PWB"), a leading financial institution known for its commitment to excellence and innovation, announces promotions within the leadership team.

After five years of dedicated service and exemplary leadership, Terry Peterson, the Chief Executive Officer of Pacific West Bank and Pacific West Bancorp, has announced his retirement from his executive duties as of June 1^st, 2024. Mr. Peterson will continue to actively serve on the Board of Directors, bringing his wealth of experience and expertise to guide the Bank's strategic direction.

In light of this transition, PWB is proud to announce the promotion of Jason Wessling, CPA, to the role of Chief Executive Officer and President, of both the Holding Company and the Bank, as of June 1^st, 2024. Mr. Wessling has been an integral part of the Bank's leadership team for the past five years, serving most recently as President and Chief Financial Officer. With a proven track record of leadership and a deep understanding of the banking landscape, Mr. Wessling is poised to lead PWB into its next phase of growth and prosperity.

"We knew Mr. Wessling was a special leader when he joined the Bank," stated Terry Peterson. "His promotion to President in 2022 was with the intention that he would become the CEO as part of a thoughtful and deliberate two-year transition plan. This Bank could not be in stronger hands under Mr. Wessling's leadership," continued Mr. Peterson.

Additionally, PWB is pleased to announce the promotion of Lisa Fajardo-Faust, Chief Deposit Officer to Executive Vice President and Chief Banking Officer. With decades of experience in the Portland banking community and non-profit leadership, Ms. Fajardo-Faust will continue to play a pivotal role in driving PWB's strategic initiatives and enhancing its client-centric approach.

Further, PWB is excited to announce the promotion of Sujana Regmi-Schuler, CPA, to Senior Vice President, Director of Accounting and Finance. Ms. Regmi-Schuler brings a wealth of experience and expertise to this role, having led the accounting and finance team for the past year and a half. In this capacity, Ms. Regmi-Schuler will continue to uphold the highest standards of financial integrity and stewardship.

Mr. Wessling expressed his gratitude for the contributions of Mr. Peterson and conveyed his enthusiasm for the future of the Bank. "As we celebrate PWB's twentieth anniversary, I am honored to assume the role of CEO and build upon our legacy of excellence. With the support of our talented team, I am confident that we will continue to drive innovation, deliver exceptional value to our clients and stakeholders, and achieve new heights of success."

"Mr. Wessling demonstrates and promotes the Bank's culture of relationship banking by focusing on our community, including businesses and non-profits, teammates and shareholders," stated Board Chairman, Ed Kawasaki. "We could not be prouder of his achievements and are committed, as a board, to his promotion to the CEO role.

Chairman Kawasaki continued, "We are fortunate to have Mr. Peterson's decades of banking experience and counsel with us on the Board of Directors, with his continued focus on regulatory and shareholder relations as well as overall Bank strategy."

PWB extends its best wishes to Mr. Peterson in his well-deserved retirement from executive duties and looks forward to benefiting from his continued guidance as a member of the Board of Directors. These appointments underscore PWB's commitment to nurturing talent from within and maintaining its position as a trusted financial partner in the communities it serves.

About Pacific West Bancorp: Information about the Holding Company's stock is available through the over-the-counter marketplace at www.otcmarkets.com (symbol PWBK).

Pacific West Bank was formed in 2004 by Portland businesspeople to deliver loan and deposit product solutions through experienced and professional bankers to businesses, nonprofits, professionals, and individuals. The Bank serves the greater Portland/ Vancouver Metro area with offices strategically located in Downtown Portland, Lake Oswego, West Linn, and Vancouver, WA.

Media Contact:
Jason Wessling
Pacific West Bank
503-912-2101
[email protected]

Certain statements in this release may be deemed to be "forward-looking statements." Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. These statements are based on current plans, estimates and projections, and therefore you should not place undue reliance on them. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events. Forward-looking statements involve inherent risks and uncertainties. We caution you that a number of important factors could cause actual results to differ materially from those contained in any forward-looking statement.

SOURCE Pacific West Bancorp