Commerce National Bank Announces the Opening of Its Small Business Administration Loan Department.FULLERTON, Calif. -- Commerce National Bank (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CNBF), a community business bank, announced today that it has opened a Small Business Administration (SBA SBA abbr. Small Business Administration Noun 1. SBA - an independent agency of the United States government that protects the interests of small businesses and ensures that they receive a fair share of government ) Loan Department. The new department will focus on government guaranteed loans in the Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, area. "The formation of an SBA Loan Department, staffed with the group of proven professionals who have joined our bank, is a significant milestone in the growth of our bank," said President & 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. Mark E. Simmons. SBA loans are a natural complement to the business and real estate loans that the bank currently offers its customers, and they greatly increase the choices that a borrower has when searching for the best loan to suit their particular needs. The new department staff of J.P. Swift as department manager, Mindy Tran, business development, and Karen Bock Noun 1. bock - a very strong lager traditionally brewed in the fall and aged through the winter for consumption in the spring bock beer lager beer, lager - a general term for beer made with bottom fermenting yeast (usually by decoction mashing); originally in administration, bring many years of experience and proven performance within this industry. Commerce National Bank Appoints SBA Veteran as Senior Vice President Commerce National Bank today announced that J.P. Swift has been appointed senior vice president, Small Business Lending. Swift will lead a new team of experienced SBA lenders and business development officers who have recently joined Commerce National Bank. "J.P. Swift brings over 14 years of in-depth experience in SBA lending, which includes developing and managing new departments and leading business development teams, all while receiving high-quality ratings from the government agencies, and we are very pleased to have him join our rapidly growing team of experienced business bankers," said Simmons. Swift has managed similar SBA departments at other Orange County banks, most recently Orange County Business Bank, CommerceWest Bank, and Eldorado Bank. Swift has been an Orange County resident for many years and received his Bachelor of Science Noun 1. Bachelor of Science - a bachelor's degree in science BS, SB bachelor's degree, baccalaureate - an academic degree conferred on someone who has successfully completed undergraduate studies degree in finance from Florida State University Florida State University, at Tallahassee; coeducational; chartered 1851, opened 1857. Present name was adopted in 1947. Special research facilities include those in nuclear science and oceanography. . Commerce National Bank Announces Appointment of Mindy Tran as Vice President of SBA Department Commerce National Bank today announced that Mindy Tran has been appointed vice president, Small Business Lending. Tran will concentrate her efforts on developing new SBA loans for the bank. "Mindy Tran has an accomplished and very successful record of developing SBA loans in Orange County, Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. County and in the Inland Empire In·land Empire A region of the northwest United States between the Cascade Range and the Rocky Mountains, comprising eastern Washington, eastern Oregon, northern Idaho, and western Montana. Farming, lumbering, and mining are important to the area. . We are very fortunate to have Ms. Tran join our new SBA Loan Department, as she brings many years of experience to our bank and has extensive contacts in this field of business lending," said Simmons. Tran has been involved with SBA lending and business development for the past four years, most recently with Orange County Business Bank and CommerceWest Bank. Tran received a Bachelor of Science degree from Portland State University and is a resident of Fountain Valley. Commerce National Bank Names Karen M. Bock as Assistant Vice President of SBA Loan Department Commerce National Bank today announced that Karen M. Bock has been appointed as assistant vice president for the bank. Bock will assume the position of the SBA Department operations administrator, reporting to Swift, the senior vice president and manager of the SBA Department. "Karen Bock brings to Commerce National Bank over 20 years of experience in the financial industry primarily in the area of SBA lending, and we are extremely pleased to have her join our new team of SBA experts," said Simmons. Most recently Bock has held loan documentation and funding positions in the SBA loan departments of CNL/Lehman Brothers, CommerceWest Bank and Eldorado Bank. Forward-Looking Statement forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. This news release contains statements that are forward-looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These statements are based on current expectations, estimates and projections about Commerce National Bank's business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including those described above and the following: Commerce National Bank's timely development of new products and services, technological changes, changes in consumer spending and savings habits and other risks discussed from time to time in Commerce National Bank's reports and filings with the Office of the Comptroller of the Currency The Office of the Comptroller of the Currency (or OCC) was established by the National Currency Act of 1863 and serves to charter, regulate, and supervise all national banks and the federal branches and agencies of foreign banks in the United States. . In addition, such statements could be affected by general industry and market conditions and growth rates Growth Rates The compounded annualized rate of growth of a company's revenues, earnings, dividends, or other figures. Notes: Remember, historically high growth rates don't always mean a high rate of growth looking into the future. , and general domestic and international economic conditions. Such forward-looking statements speak only as of the date on which they are made, and Commerce National Bank does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release. |
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