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Mohave State Bank Announces Retirements of Two Founding Board Members

LAKE HAVASU CITY, Ariz., Sept. 29, 2015 (GLOBE NEWSWIRE) -- State Bank Corp. (OTCQB:SBAZ), the holding company for Mohave State Bank, today announced that Dr. William J. Dooley, Jr. and John Marshall have retired from the Board of Directors of State Bank Corp. and Mohave State Bank.

"Bill and John were pillars in the success of our organization. They had the vision to create the bank, the courage to invest, and the strength to lead it through the good times and the bad," said Brian M. Riley, President and CEO. "We thank them for their dedicated service and guidance over the last 24 years."

As previously announced in July 2015, Mark Nexsen was appointed to the Board of Directors of Mohave State Bank, replacing the retiring directors. Mr. Nexsen is serving as the Chairman of the Audit Committee and Corporate Governance Committee.

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 five full-service branches: two in Lake Havasu City, two in Kingman and one in Bullhead City, 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.