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Golden Pacific Bancorp Announces Director Changes

SACRAMENTO, Calif., March 3, 2015 (GLOBE NEWSWIRE) -- Golden Pacific Bancorp (GPB) announced today that Directors Frank Washington and Shami Patel have resigned from the Board and that a new Director, Tony Russo, has been elected and will commence his duties later this month.

"We will miss the dedication and commitment Frank and Shami brought to the Board," said CEO Virginia Varela. "They were both instrumental in providing continuity and seeing the Bank through a CEO transition, were front and center in the Bank's successful capital raise and in developing business relationships that have resulted in GPB being a national leader in online SBA lending."

"I appreciate Frank and Shami's leadership," said Rick Claussen, Chair of GPB. "And, it is with great pleasure that we welcome Tony Russo to the Board. Tony has vast experience with a variety of California and Sacramento businesses and will be a valuable asset in helping GPB build a strong and vibrant community banking force in Northern California."

CONTACT: Virginia Varela CEO Golden Pacific Bancorp (916)414-0680Source:Golden Pacific Bancorp