LAKE HAVASU CITY, Ariz., July 27, 2015 (GLOBE NEWSWIRE) -- State Bank Corp. (OTCQB:SBAZ), the holding company for Mohave State Bank, today announced that Mark S. Nexsen has been appointed to the Board of Directors of Mohave State Bank. Mr. Nexsen will also serve as the Chairman of the Audit Committee and Corporate Governance Committee.
"Mark is exceedingly well known in our community and highly respected," stated Brian M. Riley, President and CEO. "He brings a wealth of experience in accounting and auditing, and will be a tremendous asset to our Board."
Mr. Nexsen is currently completing his final term as Mayor of Lake Havasu City. Mark recently retired as a Certified Public Accountant after 37 years and while practicing was a member of the Arizona Society of Certified Public Accountants, the American Institute of Certified Public Accountants and the National Association of Tax Professionals. Prior to government, he was a senior partner in NSC Certified Public Accountants, LLC, after spending 22 years in auditing and assurance at Ernst & Young LLP. Mr. Nexsen graduated with honors with a bachelor's degree in accounting from San Diego State University.
Mr. Nexsen will replace retiring Director Robert I. Rasmussen, who served on the Bank's Board of Directors from 1994 to 2015. "We sincerely thank Bob for his 21 years of service on our Board of Directors," said Riley. "His expertise in banking was an invaluable resource and we wish him well in his retirement."
About the Company
State Bank Corp., headquartered in Lake Havasu City, Arizona, is the parent company of Mohave State Bank, the largest locally-owned bank in Mohave County. Mohave State Bank is a full-service bank providing deposit and loan products, and convenient on-line banking to individuals, businesses and professionals. The Bank was established in October 1991, and the holding company was formed in 2004. The Bank has six full-service branches: two in Lake Havasu City, two in Kingman, one in Bullhead City, and one in Yuma, Arizona. The Company is traded over-the-counter as SBAZ. For further information, please visit the web site: www.mohavestbank.com.
Forward-looking Statements: This press release may include forward-looking statements about State Bank Corp. and its subsidiary, Mohave State Bank, for which the Company claims the protection of safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on management's knowledge and belief as of today and include information concerning the Company's possible or assumed future financial condition, and its results of operations and business. Forward-looking statements are subject to risks and uncertainties. A number of important factors could cause actual results to differ materially from those in the forward-looking statements. Those factors include fluctuations in interest rates, government policies and regulations (including monetary and fiscal policies), legislation, economic conditions, borrower capacity to repay, operational factors and competition in the geographic and business areas in which the Company conducts its operations. All forward-looking statements included in this press release are based on information available at the time of the release, and the Company assumes no obligation to update any forward-looking statement.
CONTACT: Brian M. Riley, President & CEO 928 855 0000 www.mohavestbank.com
Source:State Bank Corp.