FRESNO, Calif., Sept. 25, 2023 (GLOBE NEWSWIRE) -- FFB Bancorp, formerly Communities First Financial Corporation (the “Company”) (OTCQX: FFBB), the parent company of FFB Bank (the “Bank”), announced today that Steve Miller, President and Chief Executive Officer, will be taking a temporary leave of absence to be with his spouse and family, effective September 25, 2023. His return to work will be determined at a later date.
Bhavneet Gill, Executive Vice President and Chief Financial Officer, will step in as the Acting CEO during Steve’s absence and a senior management committee was formed to engage with the Board as needed. This group consists of the Chief Credit Officer, Chief Operating Officer, and the Chief Marketing/Revenue Officer. Ms. Gill will oversee this group and work closely with the Board to ensure the Company continues to operate in a safe and sound manner and that the team executes its 2023 strategic plan.
“As many people know, my wife “CC” has been battling a very challenging form of breast cancer over the last two years that has now spread throughout her entire body,” stated Steve Miller, President and CEO. “All of the treatments we have pursued have failed and we have recently been told that, short of a miracle, there is nothing else that can be done. The only precious resource our family now has is time, and I need to step away from FFB temporarily to fully support her and our four children during this very difficult time. I cannot thank my Board, team, and the greater banking community enough for their love, support, and prayers during this journey, and I know that support will be there for my team in my absence.”
“The Board, and the entire FFB team, express their sadness to Steve and his family and will support them in any way they can during this difficult time,” said Mark Saleh, Chairman of the Board. “We have planned and prepared for Steve to take this leave of absence. Steve has assembled a very strong leadership team, and we are confident that Bhavneet and the rest of the Senior team will continue to move the bank forward in Steve’s absence. The team is focused on the 2023 strategic plan and budget, and we look forward to finishing this financial year in a strong position.”
About FFB Bancorp
FFB Bancorp is a bank holding company established in 2014 and the parent company of FFB Bank, founded in 2005 in Fresno, California. FFB Bank’s primary focus is on serving the needs of businesses, professionals and successful individuals. As a leading SBA Lender in California’s Central Valley and one of the few direct acquiring banks in the United States, FFB offers clients a range of personal and business checking accounts, payment processes, and loan programs. Among the Bank’s awards and accomplishments, it was ranked #4 on American Banker’s list of the Top 200 Publicly Traded Banks under $2 Billion in Assets for 2022. For 2022, the Bank was also ranked by S&P Global as the #18 best performing community bank under $3 billion in assets. Additionally, the Bank was also ranked #4 in American Banker’s Top 5 Community Banks in the Country for 2023. FFB Bancorp has also received recognition as part of the OTCQX Best 50 Companies for both 2019 and 2023 and as one of the top performing OTCQX companies in the country for 2018. For additional information, you can visit the Company’s website at www.ffb.bank or contact a representative at 559-439-0200.
Forward Looking Statements
This press release may contain forward-looking statements. Forward-looking statements provide current expectations or forecasts of future events and are not guarantees of future performance, nor should they be relied upon as representing management’s views as of any subsequent date. The forward-looking statements are based on managements’ expectations and are subject to a number of risks and uncertainties. Although management believes that the expectations reflected in such forward-looking statements are reasonable, actual results may differ materially from those expressed or implied in such statements. Risks and uncertainties that could cause actual results to differ materially include, without limitation, negative operational and financial impacts on the Company and its subsidiary from our CEO’s leave of absence, the Company’s ability to effectively execute its business plans; changes in general economic and financial market conditions; changes in interest rates; and, in particular, actions taken by the Federal Reserve to try and control inflation; changes in the competitive environment; continuing consolidation in the financial services industry; new litigation or changes in existing litigation; losses, customer bankruptcy, claims and assessments; changes in banking regulations or other regulatory or legislative requirements affecting the Company’s business; international developments; and changes in accounting policies or procedures as may be required by the Financial Accounting Standards Board or other regulatory agencies. The Company undertakes no obligation to release publicly the results of any revisions to the forward-looking statements included herein to reflect events or circumstances after today, or to reflect the occurrence of unanticipated events. The Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.
Member FDIC
Contact: Bhavneet Gill – Executive Vice President & CFO
(559) 439-0200
