Golden Pacific Bancorp Board of Directors Names Virginia A. Varela Chief Executive Officer

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| Source: Golden Pacific Bancorp
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SACRAMENTO, Calif., Jan. 13, 2014 (GLOBE NEWSWIRE) -- Golden Pacific Bancorp and Golden Pacific Bank's Board of Directors is proud to announce the recent appointment of Virginia A. Varela as Chief Executive Officer for Golden Pacific Bancorp and Golden Pacific Bank, as well as a member of the Board of Directors for both entities.  

A photo accompanying this release is available at http://www.globenewswire.com/newsroom/prs/?pkgid=23028

"Ms. Varela is the consummate, multidimensional, banking professional, who, as both a business person and a prior regulator, mastered a variety of banking scenarios," commented Frank Washington, Golden Pacific Board Chairman. "Her versatility and experience is a perfect match for success and profitability with the opportunities the bank has before it."

Ms. Varela brings over 25 years of experience within the banking industry, in various positions including both as a regulator and a community bank executive. Ms. Varela's exceptional leadership skills and proven ability to focus on core bank strength are an important ingredient to the company's success. She arrives with a very solid reputation with regulators, peers, and bank clients. 

"I am thrilled to join the team at Golden Pacific and I look forward to an exciting future," said Ms. Varela. "Our team is determined to deliver the best possible banking experience to our customers, and the future endeavors of the bank will continue to focus on bringing best-of-class banking products and services to the market."

Previously Ms. Varela served as CEO and President of Bank of Rio Vista, President of San Luis Trust Bank, and most recently COO of Bank of the Orient. She also served in positions of responsibility with the FHLB, Federal Reserve Bank of San Francisco, and the Office of Thrift Supervision.

Ms. Varela serves as a member of the California Bankers Association Board of Directors, as well as being active with the Western Independent Bankers Association and Independent Community Bankers Association. She is also a Consultant with a division of the US State Department providing banking assistance to developing and in transition countries. 

About Golden Pacific Bancorp

Golden Pacific Bancorp is a Federally regulated bank holding company, which wholly owns Golden Pacific Bank, NA and Gold Country Bank, a division of Golden Pacific Bank. Golden Pacific Bancorp and its affiliated institutions operate five branches in Yuba, Sutter, and Sacramento counties, under the Golden Pacific Bank and Gold Country Bank brands. The various branches of the Bank have a 25 year history of community banking in Northern California.

Crystal Bullard
Director of Creative Solutions
Golden Pacific Bancorp
530-742-3800