LOS ANGELES, April 4, 2012 (GLOBE NEWSWIRE) -- CapitalSource Inc. (NYSE:CSE) today announced that John K. Delaney has resigned as Executive Chairman following his primary election victory yesterday in the U.S. House of Representatives race in the 6th Congressional District of Maryland. Mr. Delaney previously had taken a Leave of Absence without pay, effective January 4, 2012 through the primary election. He will continue in his role as Chairman of the Board.
"John Delaney has been an extraordinary leader since forming CapitalSource in 2000. His entrepreneurial spirit, vision and deep understanding of the capital markets contributed immeasurably to our success over those years, particularly during the recent financial crisis. On behalf of all of my colleagues at CapitalSource, we congratulate John on his primary victory; thank him for his exemplary service to the Company; and wish him well in the general election," said James J. Pieczynski, CapitalSource CEO.
About CapitalSource
CapitalSource Inc. (NYSE:CSE), through its wholly owned subsidiary CapitalSource Bank, makes commercial loans to small and middle-market businesses nationwide and offers depository products and services in 21 retail branches in southern and central California. CapitalSource, headquartered in Los Angeles, had total assets of $8.3 billion and total deposits of $5.1 billion as of December 31, 2011. For more information, visit www.capitalsource.com.