Press Release

Director Craig L. Perrone Retires – K. Jeff Nelson Joins the Board of Directors

Company Release - 9/10/2018 9:00 AM ET

EUREKA, Calif., Sept. 10, 2018 (GLOBE NEWSWIRE) -- On September 7, 2018, REDWOOD CAPITAL BANCORP (RWCB.OB), the only locally owned and operated community bank holding company in Humboldt County, announced the retirement of Director Craig L. Perrone and the appointment of K. Jeff Nelson to the Board of Directors.

John Dalby, President and CEO remarked, “The Board of Directors, senior management and staff would like to recognize retiring Director Craig L. Perrone.  Craig was a very active founding member of the Board of Directors.  Throughout his tenure, he served on numerous committees, including Loan Committee, Asset and Liability Committee (ALCO) and Audit Committee.  His consistent passion for excellence was infectious and his presence will certainly be missed.  Mr. Perrone will continue to support the institution in the capacity of Director Emeritus.”

Mr. Perrone is the owner and President of DelReka Corporation, dba DelReka Distributing, a wholesale beer and beverage distributor.  Mr. Perrone has served as a Director for numerous organizations at the local, state and national levels.

Dalby added, “We are extremely pleased to welcome Jeff Nelson to the Board of Directors.  I have served with Jeff on a number of Boards and committees and have found him to be a very positive influence, providing sound wisdom and judgment.  We are indeed fortunate to have Jeff Nelson join our team.”

Jeff Nelson stated, “I am pleased to be associated with Redwood Capital Bank and their commitment to the local community.”

Mr. Nelson is a registered professional engineer and CEO of SHN Consulting Engineers and Geologists.  He has a long history of community involvement including, Fortuna Sunrise Rotary Club, serving on the Board of Directors for both St. Joseph and Redwood Memorial Hospitals, Humboldt County Workforce Development Board, Fortuna Union High School and the Humboldt County Office of Education.

For more information regarding Redwood Capital Bancorp, please visit our website at www.redwoodcapitalbank.com, contact John E. Dalby, President & CEO, at (707) 444-9833, or stop by our headquarters and main office at 402 “G” Street, Eureka, California 95501.

This press release may contain forward-looking statements that are subject to risks and uncertainties. Such risks and uncertainties may include but are not necessarily limited to fluctuations in interest rates, inflation, government regulations and general economic conditions, and competition within the business areas in which the Bank is conducting its operations, including the real estate market in California and other factors beyond the Bank’s control. Such risks and uncertainties could cause results for subsequent interim periods or for the entire year to differ materially from those indicated. Readers should not place undue reliance on the forward-looking statements, which reflect management’s view only as of the date hereof. The Bank undertakes no obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances.

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Source: Redwood Capital Bank