LAKE HAVASU CITY, Ariz., May 16, 2008 (PRIME NEWSWIRE) -- The Directors of Mohave State Bank, wholly owned subsidiary of State Bank Corp. (OTCBB:SBAZ), are pleased to announce that Mr. Brian M. Riley has been appointed as the new Executive Vice President and Chief Financial Officer of Mohave State Bank. Mr. Riley will be responsible for overall accounting and financial operations. In addition, Mr. Riley will serve as part of Mohave State Bank's executive management team in the development of strategic planning.
Mr. Riley has over 24 years of experience in the banking industry. Most recently, he was the Chief Executive Officer of Harbor Bank & Trust (in Organization) in Southport, CT. Previously, Mr. Riley held the position of President and CEO of PriVest Bank (Santa Ana, CA) and the position of Chief Financial Officer at Provident Savings Bank, (Riverside, CA) and Metro Commerce Bank (San Rafael, CA). Mr. Riley has received a Bachelor of Science degree in Finance, and Masters degree in Business Administration. He is also a Certified Financial Planner.
"We are delighted to have someone of Brian's caliber join our team. Brian's industry knowledge and leadership will help us execute a number of strategic initiatives," says Ralph Tapscott, President and CEO of Mohave State Bank.
State Bank Corp., headquartered in Lake Havasu City, Arizona, is the parent company of Mohave State Bank, the largest locally-owned bank in Mohave County, with $360 million in assets as of March 31, 2008. Mohave State Bank is a full-service bank providing deposit and loan products, and convenient on-line banking to individuals, businesses and professionals. The Bank was established in October 1991, and the holding company was formed in 2004. The Bank has six full-service branches: two in Lake Havasu City, two in Kingman, one in Bullhead City, and one in Yuma, Arizona. The Company is traded over-the-counter as SBAZ. For further information, please visit the web site: www.mohavestbank.com