EL CENTRO, Calif.--(EON: Enhanced Online News)--Community Valley Bank hereby announces the hiring of Wayne D. Gale as President and Chief Executive Officer of Community Valley Bank effective Monday September 16, 2013 and the reappointment of Jon Edney as Chairman of the Board.
“I look forward to returning to my role as Chairman of the Board and in continuing to serve our board, staff, customers, and shareholders.”
Wayne Gale joins Community Valley Bank with over twenty-five (25) years of community banking experience. Most recently Mr. Gale completed six (6) years as the President and Chief Executive Officer of The Foothills Bank of Yuma, AZ. During his tenure, the bank doubled in size to over $280 million in assets and increased the footprint of the bank from three (3) branches in one county to seven (7) branches in three (3) counties. In 2011, The Foothills Bank was named as one of the Top Ten Banks in the State of Arizona. Additionally, The Foothills Bank was recognized as one of the region’s “Best Places to Work,” while also being named as one of the Top 400 Community Banks in the nation by the Independent Community Bankers Association (ICBA).
CVB Director Ron Rubin, who chaired the search committee, states, “We set out on a nationwide search for a CEO that could take the organization to the next level and reviewed over 25 resumes. Ironically we have selected Wayne, who is coming to us from just one-hour away!” Fellow CVB Director Jordana Selwick continued, “Wayne has an impressive record of creating a successful bank through the development of local staff and his involvement within the community.” Wayne Gale states, “My wife and I are excited about joining the Imperial Valley community. As a bank specializing in the needs of small business, we will continue to utilize homegrown staff and work to help develop the regional economy.”
As part of the hiring of Mr. Gale as President & Chief Executive Officer, the Board of Directors has re-appointed Jon Edney as Chairman. Mr. Edney is an original organizer of the bank and has served on the Board since its inception in 2007. He was first appointed Chairman in 2010. Mr. Edney served as the Acting President & Chief Executive Officer over the last four (4) months while a search for a permanent CEO took place. “I look forward to returning to my role as Chairman of the Board and in continuing to serve our board, staff, customers, and shareholders.”
About Community Valley Bank:
Community Valley Bank (www.yourcvb.com) is the Imperial Valley’s ONLY locally owned and locally headquartered bank. CVB was chartered as a state bank for Imperial Valley businesses on October 1, 2007, and now has three locations, all in California: 1443 Main Street in El Centro, 310 Main Street in Brawley, and 77564 Building A Country Club Drive, Suite 103, in Palm Desert. Community Valley Bank is a publicly traded company under the symbol CMUV. All investor related inquiries should be directed to Community Valley Bank’s Chief Financial Officer, Toni Umphreyville at (760) 352-1889.