BELLEVUE, Wash., Nov. 8, 2012 (GLOBE NEWSWIRE) -- Foundation Bancorp, Inc. (OTCBB:FDNB), the holding company for Foundation Bank, today announced that Jamie Colbourne has re-joined its Board of Directors and the Board of Directors of the Bank, effective September 26, 2012. Mr. Colborne has been associated with the bank since its beginning, as a founding board member of Foundation Bank. Foundation now has eight outside directors serving on its board.
"We are honored and delighted to welcome Jamie back to the Foundation Board," said Diane Dewbrey, President and CEO. "His strong communication skills, leadership abilities and proven expertise in management, finance and marketing will be of great value to our institution as we continue to position ourselves for future success."
Mr. Colbourne is currently the Chief Executive Officer of a food processing company in the Northwest that has distribution throughout the US and into Asia. He was born in Canada where he started his career in 1980 as a member of the Canadian Chartered Accountant Association and worked as an auditor in public accounting. In 1983, he transitioned to private industry in senior financial capacities with Coca Cola, Pepsi Cola, and Pillsbury in North America.
In the early 90's, Mr. Colbourne purchased a food distribution business in the Pacific Northwest that he expanded into food manufacturing with national distribution in consumer products goods. He has spent the last twenty years of his career in retail, wholesale and manufacturing of consumer products goods. Mr. Colbourne's former executive positions include: Chief Operating Officer of Triple B Corp in Seattle, Chief Executive Officer of Front Porch Classics in Seattle, President and Chief Executive Officer of Tully's Coffee in Seattle and Chief Executive Officer and Owner of Specialty Frozen Products in Seattle.
Foundation Bancorp is a bank holding company based in Bellevue, Washington, that operates Foundation Bank, a locally-owned, full service, state chartered commercial bank. Foundation Bank has been serving the greater Puget Sound region since 2000.
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