SEATTLE--(EON: Enhanced Online News)--Plaza Bank (OTCBB: PZBW) is pleased to announce the promotion of Michael T. Anderson, Executive Vice President and Chief Lending Officer, to the role of President and Chief Executive Officer. Mr. Anderson assumed this role upon the retirement of the Bank’s previous CEO, Michael J. Clabby, on November 23, 2016. In his new role, Mr. Anderson will provide overall leadership to the Bank’s management team and work closely with the Board of Directors, while also maintaining relationships with the Bank’s clients.
In making this announcement, Board Chairman Donald M. Burton said, “We want to thank Mike Clabby for all his work during the past year as our President. The turnaround of Plaza Bank has been a wonderful story and we are poised for future success with stable earnings, a growing core deposit franchise and credit quality which has been on an upward swing for years now. We look forward to Mike Anderson’s contributions and his role in the Bank’s continued success.”
Mr. Anderson joined Plaza Bank in 2014. He has played a critical role in the loan and core deposit growth the company has experienced during the past couple of years. Anderson holds a Bachelor of Arts in Business Administration degree from the University of Puget Sound and a Masters in Business Administration degree from the University of Washington. He has enjoyed a 26 year career in banking in the Seattle/Puget Sound region.
About Plaza Bank
Founded in 2006, Plaza Bank is a state-chartered, full-service commercial bank headquartered in downtown Seattle. The bank serves closely held commercial businesses, professional firms, non-profit organizations and the people who make them successful. The company provides high-quality commercial banking services tailored for the small business community of Puget Sound. For more information, visit www.plazabankwa.com.
Forward-Looking Statement Safe Harbor
This release contains comments or information that constitute forward-looking statements and are based on current expectations that involve risks and uncertainties. Forward-looking statements may describe Plaza Bank’s projections, estimates, plans and expectations of future performance and can be identified by words such as “believe,” “expect”, “intend,” “estimate,” “likely,” “anticipate,” and other similar expressions. These are not guarantees of future performance, and actual results may differ materially from the results expressed in these forward-looking statements.