SAVANNAH, Ga., Aug. 9, 2007 (PRIME NEWSWIRE) -- The Savannah Bancorp, Inc. (Nasdaq:SAVB) announces the successful execution of a management expansion strategy developed earlier this year. This strategy will allow the Company to take full advantage of the growth opportunities in its markets and support the sustainability of the Company and its initiatives as it moves toward the billion dollar in assets benchmark.
The Company has previously announced the addition of Holden T. Hayes as Executive Vice President of The Savannah Bank. Hayes, age 35, has been in banking for over 13 years and was employed with SunTrust Bank in Savannah as a Senior Vice President in Wealth and Investment Management since 1997. Prior to SunTrust, Hayes was employed with Fidelity Bank in Atlanta in various capacities.
He is a graduate of The University of Georgia where he earned his Bachelor of Business Administration degree in Finance and he earned a Master of Business Administration degree from Georgia Southern University. Hayes currently holds Series 7, 66 and 24 securities licenses as well as life and variable insurance.
Active in the community, Hayes currently serves various civic and community organizations including the Historic Savannah Foundation, Greater Savannah Sports Council, Senior Citizens, Inc. and St. John's Church. He is past Director of the Chamber of Commerce and Telfair Museum of Arts and is a graduate of Leadership Savannah.
Additionally, David L. Moore, Jr., has been named Executive Vice President and Chief Operating Officer of Harbourside Community Bank, the Company's South Carolina subsidiary serving Hilton Head Island, Bluffton and the Lowcountry of South Carolina with primary responsibilities for all lending and credit administration. Since 2003, Moore, age 38, was the Market President for Wachovia Bank in the Hilton Head Island and Bluffton markets. Before joining Wachovia, Moore was the Credit Products Officer for Bank of America's Specialty Lending Team in Washington, D.C. serving non-profit organizations and government agencies.
Also active in the local community, Moore currently serves on the boards of the United Way of the Lowcountry and the Arts Center of Coastal Carolina. He has played an active role in fundraising for the March of Dimes and the American Heart Association.
Moore earned a Bachelor of Arts in Finance/Business Administration from Queens College in Charlotte, North Carolina and a Master of Business Administration degree from the Belk School of Business at the University of North Carolina at Charlotte.
At the holding company level, Robert T. Whelen, Jr., will join the Company as Senior Vice President of Credit and Risk Management effective August 20, 2007. Whelen, age 45, most recently served as Senior Vice President of Mercantile-Safe Deposit and Trust Company where he was responsible for correspondent banking inclusive of underwriting of all commercial and industrial relationships. He earned a Bachelor of Science in Business and Finance from Towson University and a Master of Business Administration from Loyola College.
John C. Helmken II, President and Chief Executive Officer of the Company said, "This is a tremendous addition to our existing team of outstanding bankers and people. With their energy and experience, this trio of dynamic bankers will provide the next generation of leadership for our Company." Helmken added, "We were very focused on finding bankers with customer and client 'front-line' experience who are comfortable in a producing manager/executive role. The treasury, human resources, correspondent banking and wealth management experience of these proven performers, coupled with the in-market presence of Holden and David, will bring an immediate impact to our banks while providing the strategic depth necessary to compete and thrive going forward." Regarding Whelen, Helmken said, "We have gotten to know Bob over the last several years through our correspondent relationship with Mercantile Bank. He understands our business development focus within our conservative credit culture." In closing, Helmken added, "These additions are a tremendous step for the future and direction of our Company."
About The Savannah Bancorp, Inc.
The Savannah Bancorp, Inc. (SAVB), a bank holding company for The Savannah Bank, N.A., Bryan Bank & Trust (Richmond Hill, Georgia) and Harbourside Community Bank (Hilton Head Island, SC), is headquartered in Savannah, Georgia. SAVB began operations in 1990. Its primary businesses include deposit, credit, trust and mortgage origination services provided to local customers.
Forward Looking Statements
This press release may contain forward-looking statements as defined by federal securities law which involve significant risks and uncertainties. Actual results could differ materially from those contained in or implied by such statements for a variety of reasons including, but not limited to: changes in interest rates; changes in accounting principles, policies, or guidelines; significant changes in the economic scenario: significant changes in regulatory requirements; and significant changes in securities markets. The Savannah Bancorp, Inc. does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made. Any such statements are made in reliance on the safe harbor protections provided under the Private Securities Act of 1995.