Solera National Bank Announces Board and Management Changes

·3 min read

LAKEWOOD, CO / ACCESSWIRE / July 30, 2021 / Solera National Bancorp, Inc. (the "Company") (OTC PINK:SLRK) and Solera National Bank (the 'Bank'), a national bank and subsidiary of the Company today announced two new board positions and two Senior Management positions. Michael Quagliano has been named Executive Chairman. Jordan Wright has been named Vice Chairman. Scott Wilson has been promoted to Chief Executive Officer of the Bank. Kreighton Reed has been promoted to President of the Bank. All changes are effective July 30, 2021. Mr. Wilson will also join the Board of Directors of both the Company and the Bank, effective July 30, 2021. The Bank also announces that Melissa K. Larkin has resigned from her positions of Chief Financial Officer, Chief Operating Officer and Secretary of the Bank and all corresponding positions with the Company, effective August 18, 2021. Ms. Larkin has also resigned from the Board of Directors of both the Company and the Bank, effective July 29, 2021.

The appointment of Mr. Quagliano to Executive Chairman is to better reflect the active role he plays in the bank. Mr. Quagliano has been vital to assisting the Bank with the impressive growth in its loan portfolio. Mr. Quagliano also assists in the strategic vision and direction of the Bank.

Mr. Wright is a leader in the Fintech industry. Currently, he is the cofounder and CEO of Atomic FI, Inc. As Vice Chairman, Mr. Wright will advise the Bank on growing its Fintech business, as well as aid in strategic planning.

The Company is excited to promote Mr. Wilson to the CEO position who brings 17 years of commercial banking experience and 13 years of executive leadership experience. "Mr. Wilson is exactly what Solera needs at this point in its growth. His experience compliments the explosive deposit growth Solera continues to experience. Scott led the building of a commercial loan department from its beginning to almost a $2 billion loan portfolio," commented Executive Chairman Quagliano.

Mr. Reed, in his role as President, will continue to lead the Bank's deposit gathering teams and will also lead its new Fintech division. "Technology continues to transform our world and the banking sector. Solera has recognized that banking is changing, and we will be part of that change," commented President Reed.

The company thanks Ms. Larkin for her work and years of service. "Melissa helped lay the foundation of a hard-working culture and strong efficiency for this company. The cornerstones she laid provide strong bases for our continued growth," commented President Reed. The Company has hired an outside firm to assist in the smooth transition of Ms. Larkin's duties until a more permanent replacement is found

About Solera National Bancorp, Inc.
Solera National Bancorp, Inc. was incorporated in 2006 to organize and serve as the holding company for Solera National Bank, which opened for business in September 2007. Solera National Bank is a community bank serving the needs of emerging businesses and real estate investors. At the core of Solera National Bank is welcoming, attentive and respectful customer service, a focus on supporting a diverse economy, and a passion to serve our community through service, education and volunteerism. For more information, please visit https://www.solerabank.com/.

This press release contains statements that may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The statements contained in this release, which are not historical facts and that relate to future plans or projected results of Solera National Bancorp, Inc. and its wholly owned subsidiary, Solera National Bank, are forward-looking statements. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected, anticipated or implied. We undertake no obligation to update or revise any forward-looking statement. Readers of this release are cautioned not to put undue reliance on forward-looking statements.

Contacts:
CEO - Scott Wilson, swilson@solerabank.com
President - Kreighton Reed, kreed@solerabank.com

SOURCE: Solera National Bancorp, Inc.



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