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Community Central Bank Corp. Announces Board and Senior-Management Elections.

MOUNT CLEMENS, Mich., Nov. 9 /PRNewswire/ --

The Board of Directors of Community Central Bank Corporation (OTC Bulletin Board: CCBD), the holding company for Community Central Bank, today announced election results for several board positions and senior management posts.

Those elected were: Harold W. Allmacher to Chairman and Chief Executive Officer of the holding company and Vice Chairman of Community Central Bank; David A. Widlak to Vice Chairman of the holding company and Chairman of the Bank; Raymond M. Contesti, Ph.D. to President of the holding company; Dean S. Petitpren to Vice President of the holding company; and Ronald R. Reed to President and Chief Executive Officer of the Bank.

Mr. Allmacher is a co-founder of Community Central Bank Corporation and Community Central Bank and has served as a director since the corporation's founding in 1996. Mr. Allmacher's professional career spans some 40 years in banking. He previously served as Chairman, President and CEO of First National Bank in Macomb County. He has served on the boards or advisory boards of nearly a dozen Macomb County civic and business organizations and has been recognized on myriad occasions with awards for his business and community leadership.

In his new role, Mr. Allmacher will focus on bank- and holding-company growth, acquisitions, strategic direction and interfacing with the investment community to enhance shareholder value.

Mr. Widlak, who joined Community Central Bank Corp. in November 1999, is an attorney with extensive senior-management experience with several corporations, including Margate Industries, Colonial Central Savings Bank, Central Mortgage Corporation and numerous realty-related companies including an international realty holding company. In his new position, he will complement Mr. Allmacher in strategic development.

Mr. Reed joined Community Central Bank in Sept. 2000 and brings a wealth of financial-institution management experience to Community Central Bank, having most recently served as a Vice President responsible for business development at First International Bank in Sterling Heights. Prior to that post, he headed Midwest Strategies, Inc., a financial consulting business, and served from 1970 to 1998 with Michigan National Bank where he was an Area Director among other management positions. In the new post he will be responsible for day-to-day operations of Community Central Bank.

"Mr. Reed is ideally suited for this position. His management experience and commercial lending background will certainly enhance our management group," Mr. Allmacher commented.

Dr. Contesti is Superintendent of Clintondale (Michigan) Community Schools and has served on the board of the holding company since its formation.

Mr. Petitpren is President of Petitpren, Inc., a Macomb County -based wholesale beverage distributor and has served on the board of the holding company since its formation.

"The Board of Directors is extremely pleased with the new structure and direction of the Corporation and Bank. We believe we have the management depth and expertise to provide our customers and shareholders with an exceptional level of service and performance, commented Mr. Widlak.

"Of special note, we are delighted that Mr. Allmacher will be able to focus on the growth of the holding company and bank. He has, in effect, been operating both since inception. He is a cornerstone of Community Central Corporation and Community Central Bank. He has been the driving force behind our growth and success, and his leadership and guidance have been instrumental to our transformation, over the past four years, from a start-up bank to a preferred financial institution with assets exceeding $208 million," Mr. Widlak said.

Community Central Bank Corporation is a bank holding company, operating Community Central Bank in Mount Clemens, Michigan. The Corporation opened for business in downtown Mount Clemens in October 1996. The Bank serves businesses and consumers throughout Macomb County with a full range of lending and deposit services. The Corporation also operates a loan center in Port Huron, Michigan, serving small to medium-sized businesses in the St. Clair County area.
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Publication:PR Newswire
Date:Nov 9, 2000
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