Duane C. Woods Joins Foundation Bancorp Board of Directors

BELLEVUE, Wash., Dec. 2, 2013 (GLOBE NEWSWIRE) -- Foundation Bancorp, Inc. (OTCQB:FDNB), the holding company for Foundation Bank, today announced that Duane Woods has joined its Board of Directors and the Board of Directors of the Bank, effective November 20, 2013. Mr. Woods has been associated with the Bank since its beginning, as a founding investor. Foundation now has nine outside directors serving on its board.

"With over 33 years of business experience, Duane brings a wealth of financial, legal and leadership expertise to our Board," said Diane Dewbrey, President and CEO. "We welcome Duane to the Board, and we are excited about his addition to the team."

Woods recently retired as Senior Vice President for Waste Management Inc., the leading provider of comprehensive waste and environmental services in North America with over $14 billion in annual revenues. Relocating to Scottsdale, Arizona in July of 2004, Mr. Woods served as Senior Vice President for Waste Management's Western US and Canadian operations until his retirement in November, 2012. In that role he was responsible for over $3.4 billion in revenues and more than 10,000 employees in Western Canada, Arizona, Alaska, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Utah and Washington. Mr. Woods is recognized as a key leader in developing Waste Management's sustainability strategy, initiatives and business transformation.

Before joining Waste Management in 1998, Mr. Woods practiced law for over 18 years, based in Seattle, Washington. He was a founding partner of Summit Law Group, LLC located in Seattle, Washington and a senior partner in the national law firm of Heller, Ehrman, White and McAuliffe.

Mr. Woods holds a B.A. from University of Washington and a law degree from Seattle University. He and his wife reside in both Paradise Valley, Arizona and Langley, Washington.

Foundation Bancorp is a bank holding company based in Bellevue, Washington, that operates Foundation Bank, a locally-owned, full service, state chartered commercial bank. Foundation Bank has been serving the greater Puget Sound region since 2000.

Safe Harbor Statement. This release contains comments or information that constitutes forward-looking statements (within the meaning of the Private Securities Litigation Reform Act of 1995) that are based on current expectations that involve a number of risks and uncertainties. Actual results may differ materially from the results expressed in forward-looking statements. Factors that might cause such a difference include changes in interest rates and interest rate relationships; demand for products and services; the degree of competition by traditional and non-traditional competitors; changes in banking regulation; changes in tax laws; changes in prices; levies and assessments; the impact of technological advances; governmental and regulatory policy changes; the outcomes of contingencies; trends in customer behavior as well as their ability to repay loans; changes in the national and local economy; and other factors, including risk factors. The Company undertakes no obligation to update or clarify forward-looking statements, whether as a result of new information, future events or otherwise.

CONTACT: Randy Cloes, EVP & CFO 425 691 5014 www.foundationbank.comSource:Foundation Bancorp