Golden Pacific Bank Earns SBA Preferred Lender Status

SACRAMENTO, Calif., Nov. 14, 2012 (GLOBE NEWSWIRE) -- Sacramento-based Golden Pacific Bank, NA announced today that the U.S. Small Business Administration (SBA) has awarded Golden Pacific Bank with the SBA Preferred Lender designation.

As an SBA Preferred Lender, Golden Pacific Bank has the ability to close and service government guaranteed loans in a streamlined and expedited manner, responsibilities granted to the Bank by the Small Business Administration based upon the Bank's knowledge of SBA policies and procedures, as well as their demonstrated experience with government guaranteed lending. In the past year, Golden Pacific Bank has established itself as one of the top SBA lenders in the Sacramento Region and throughout Northern California.

"Golden Pacific Bank is proud to achieve this designation from the U.S. Small Business Administration. Our Bank is firmly committed to creating opportunities and providing the financial services to our business community that will help them grow and thrive in this challenging economy. With our Preferred Lender status we believe that we will be better able to serve this vitally important segment of our customer base," said Roy Malone, President of Golden Pacific Bank, NA.

Golden Pacific Bank offers SBA 7(a) and 504 loans, as well as United States Department of Agriculture Business and Industry Guaranteed loans (USDA B&I). Golden Pacific Bank's Government Guaranteed Lending department is headed up by Tom Sharp, VP/Government Guaranteed Lending.

"Golden Pacific Bank is excited to expand our commitment to SBA Lending through SBA's 'Preferred Lender Program' or PLP," said Tom Sharp. "As a PLP lender, Golden Pacific Bank will enjoy 'delegated authority' to underwrite and approve SBA Loans on behalf of the U.S. Small Business Administration. Businesses applying at Golden Pacific Bank for an SBA Loan will experience a streamlined and expedited process from application to close. Golden Pacific Bank looks forward to serving small business loan needs in Northern California through an excellent partnership with the U.S. Small Business Administration."

About Golden Pacific Bank, NA

Golden Pacific Bank, NA is a local community bank, wholly owned by Golden Pacific Bancorp, a bank holding company headquartered in Sacramento, CA. Golden Pacific Bank operates 6 branches in Yuba, Sutter, Butte, and Sacramento counties, under the Golden Pacific Bank and Gold Country Bank brands. The various branches of the Bank have a 25 year history of community banking in Northern California.

CONTACT: Roy Malone President 916-444-2450 Tom Sharp VP/Government Guaranteed Lending 916-761-2573 tsharp@goldenpacificbank.comSource:Golden Pacific Bancorp