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PACIFIC BANCORPORATION ANNOUNCES REORGANIZATION OF COMMUNITY FIRST BANK SUBSIDIARY

 PACIFIC BANCORPORATION ANNOUNCES REORGANIZATION
 OF COMMUNITY FIRST BANK SUBSIDIARY
 FRESNO, Calif., Nov. 27 /PRNewswire/ -- Fresno-based Pacific Bancorporation (NASDAQ: PABC), holding company of Community First Bank, Bakersfield, which recently announced its intention to merge with Fresno-based ValliCorp Holdings Inc. (NASDAQ: VALY), announced today that it is conducting a joint search with ValliCorp for a new president and chief executive officer for Community First Bank. The new position will combine the function of the offices currently held by Henry Wheeler and Ronald L. Scheidt.
 Pacific Bancorporation President and Chief Executive Officer Wheeler will resign as chairman and chief executive officer of Community First Bank in order to devote full time to facilitating the merger. Community First Bank President and Chief Loan Officer Scheidt will resign and act as a consultant to the bank to facilitate the transition.
 Community First Bank Vice President Dennis Tishma will be named acting president when the resignations of Wheeler and Scheidt become effective on Dec. 10, 1991 and will report directly to the board of Community First Bank through the chairman of its executive committee.
 Pacific Bancorporation Chairman William A. Buzick remarked, "Henry Wheeler has served the bank brilliantly during a difficult turnaround situation, and under his leadership the bank has been positioned to enter into a merger with a larger institution, which has for some time been a primary objective of the board. We are gratified that he will continue to serve as president and CEO of the holding company, where he will devote his full energy to the completion of the merger."
 Wheeler commented, "Ron Scheidt has rendered valuable service during trying times, and we are pleased that we will continue to have the benefit of his experience as a consultant during the transition.
 "It is contemplated that the new CEO of Community First Bank will be in place early in 1992 and before completion of the merger, which should insure an orderly transition," Wheeler added.
 Pacific Bancorporation is headquartered in Fresno and is the parent of Community First Bank, headquartered in Bakersfield, with assets of $202 million and 18 branches. ValliCorp, headquartered in Fresno, is the parent of Bank of Fresno and Merced Bank of Commerce with combined assets of $420 million and 11 branches.
 -0- 11/27/91
 /CONTACT: Fred McKenna of PBC Advertising $ Public Relations, 805-395-3286/


(PABC; VALY) CO: Pacific Bancorporation ST: California IN: FIN SU: PER

DM-AL -- LA014 -- 7792 11/27/91 14:21 EST
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Publication:PR Newswire
Date:Nov 27, 1991
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