Cheney Appointed Director Merchants Bank of California N.A.Business Editors CARSON, Calif.--(BUSINESS WIRE)--May 19, 2000 Daniel K. Roberts, President and Chief Executive Officer of Merchants Bank of California The Bank of California was founded in San Francisco, California on July 5, 1864 by William Chapman Ralston. It was the first commercial bank in the Western United States, the second-richest bank in the nation, and considered instrumental in developing the American Old West. , N.A. announced the appointment of James H. Cheney to their Board of Directors. In commenting upon the recent appointment, Roberts indicated that the Bank was "extremely fortunate to have attracted an individual of Mr. Cheney's caliber." Cheney, who currently serves as President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Hathaway Children and Family Services, brings a strong background in financial services to the Board of the independently owned commercial banking institution known as Merchants Bank of California, N.A. In addition to his tenure in the non-profit social services arena over the past decade, Cheney previously served as President/CEO for three Southern California commercial banking institutions and held an Executive level appointment at the former Security National Bank. As Chairman of the Los Angeles Region of the California Bankers Association and Vice President for the Board of Directors of the Community Bankers of Southern California, Cheney was instrumental in pioneering present day bank operations before leaving the industry to pursue volunteer interests in non-profit organizational management as a full-time career. Cheney holds a BA degree with honors from Claremont McKenna College A member of the Claremont Colleges, Claremont McKenna College is a small, highly selective, private coeducational, liberal arts college enrolling about 1100 students with a curricular emphasis on government, economics, and public policy. ; an MBA MBA abbr. Master of Business Administration Noun 1. MBA - a master's degree in business Master in Business, Master in Business Administration Beta Gamma Sigma Beta Gamma Sigma or ΒΓΣ is an honor society for business students and scholars. Founded in 1913 at the University of Wisconsin, it has over 580,000 members, selected from 460 chapters in AACSB-accredited business schools. from UCLA UCLA University of California at Los Angeles UCLA University Center for Learning Assistance (Illinois State University) UCLA University of Carrollton, TX and Lower Addison, TX ; as well as a Graduate Certificate from the Harvard Business School Harvard Business School, officially named the Harvard Business School: George F. Baker Foundation, and also known as HBS, is one of the graduate schools of Harvard University. . In commenting upon his appointment, Cheney stated, "Even after several years spent away from the financial industry, the solidity of my early professional training, track record of spurring high performing institutions to record-breaking profits and my familiarity with both the public and private business sectors offer a wealth of talent upon which Merchants Bank of California, N.A. can draw." Both Roberts and Cheney commented upon the strength that the new alliance would bring to the organizational structure. The Bank, currently known for its expertise in the area of Check Cashing, Trade Finance and Factoring, plans on expanding its operation to include several new product lines over the next year. Cheney's familiarity with full service commercial banking will provide valuable insight and strategic direction to the institution's new endeavors. Merchants Bank of California, N.A., founded in 1989, is located in the City of Carson. The Bank reported assets of $23 million as of March 31, 2000, and was named the number one performing California Bank for ROA ROA See: Return on assets ROA See: Right of accumulation ROA See return on assets (ROA). , with a return of 5.39 percent, by the Wall Street Journal as of December 31, 1999. |
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