SARASOTA, Fla., March 10, 2008 (PRIME NEWSWIRE) -- First State Bank, a $470 million bank with locations in Pinellas and Sarasota counties, has announced the promotion of Dennis Grinsteiner to Executive Vice President.
"Dennis has been instrumental in managing our balance sheet to optimize our earning potential. We know Dennis is an extremely valuable member of our executive management team and we look forward to continued positive growth with leaders such as Dennis," said John E. "Jed" Wilkinson, President and CEO of First State Bank. Grinsteiner joined the bank in 2003 as Senior Vice President/Chief Financial Officer. Dennis brings over 40 years of finance and banking experience to the position. Previously, Dennis had held senior management positions at Southern Exchange Bank as Executive Vice President and Chief Financial Officer.
"I am looking forward to another great year at First State Bank and enjoy working with our current leadership," said Grinsteiner.
Grinsteiner currently chairs the Asset/Liability Committee at First State Bank. Previously Dennis was involved as Treasurer for the Jaycees and served on the finance committee at his church. Grinsteiner is a graduate of the American Bankers Association Compliance School, the University of Wisconsin Graduate School of Banking, Northern Michigan University School of Banking, and attended Spencerian Business College.
First State Financial Corporation (Nasdaq:FSTF) is the holding company for Sarasota, Florida-based First State Bank (www.firststatefl.com). First State operates seven full-service branches, four in Pinellas County and three in Sarasota County, with plans to open two new offices in the next 12 months. With more than $470M in assets, it is the fifth largest bank headquartered in the Tampa Bay market.
Except for historical information contained herein, this news release contains comments or information that constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which involve significant risks and uncertainties. Actual results may differ materially from the results discussed in the forward-looking statements.