Idaho First Bank Announces Todd Cooper as CEO

Rhea-AI Summary

Idaho First Bank (OTC: IDFB) has appointed Todd Cooper as the new Chief Executive Officer, succeeding founder Greg Lovell, who will retire after an 18-month succession plan. Todd, who joined the Bank in 2020 and previously served as Chief Operating Officer and President, aims to further the Bank's growth and maintain its community-focused values. Lovell remains on the Board and will continue to support the Bank's direction. The transition highlights a commitment to stability and future success as Idaho First Bank embraces its 'People First and Community First' mission.

Positive

• Leadership transition aligns with a structured succession plan for long-term success.
• Todd Cooper has a solid history with the Bank, having rapidly advanced roles since 2020.

Negative

• None.

MCCALL, Idaho, May 11, 2021 (GLOBE NEWSWIRE) -- Idaho First Bank (the “Bank”) (OTC: IDFB) today announced the promotion of Todd Cooper to Chief Executive Officer and the retirement of founder and former CEO, Greg Lovell. This leadership transition follows the implementation of an 18-month succession plan in which Todd worked alongside Greg to prepare the Bank for long-term success.

“I believe Todd will continue the progress of the Bank,” stated Greg Lovell, founder and former CEO of Idaho First Bank. “I’m excited to witness the forward progress of him and his team.”

Greg continues to serve as an active member on the Board of Directors and plans to remain deeply involved with the Bank. As CEO, Todd will lead the Bank's daily vision, drive the Bank's growth, and foreshadow the next stages of future development.

“I want to thank Greg for his vision and passion, and for giving me this opportunity,” stated Todd on his new promotion. “I admire Greg’s ability to build a leadership succession plan that has set Idaho First on a path for sustained success. The quality of this team impresses me every single day and the future of our bank is bright. I’m excited to keep our focus on both people and community as they are the foundation to our success.”

Todd joined the Bank in January of 2020 as Chief Operating Officer, before being quickly promoted to President in April of 2020. He officially began his role as CEO on April 27, 2021. Previously in his career, Cooper served as the Senior Vice President of Commercial Banking at Wells Fargo in Boise and as the Economic Development Director at Boise State University.

About Idaho First Bank
Idaho First Bank (IFB) is a full-service state-chartered community bank established in October 2005 and headquartered in McCall, Idaho. Known for its People First and Community First motto, IFB serves the greater southwest Idaho communities with five additional branches located in New Meadows, Eagle, Ketchum, Nampa, Boise, and a Loan Production Office (LPO) in Bend, Oregon. Idaho First Bank is a member of the FDIC and an Equal Housing Lender. For more information, visit us at www.idahofirstbank.com

This release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 (“PSLRA”). Such forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those projected. These risks and uncertainties include, but are not limited to, economic conditions, the regulatory environment, loan concentrations, vendors, employees, technology, competition, and interest rates. Readers are cautioned not to place undue reliance on the forward-looking statements. Idaho First Bank has no obligation to publicly update forward-looking statements after the date of this release. This statement is included for the express purpose of invoking PSLRA’s safe harbor provisions.

CONTACT
Stacey Divine
Chief Marketing Officer
Idaho First Bank
208-634-1000
sdivine@idahofirstbank.com

FAQ

What is the recent leadership change at Idaho First Bank (IDFB)?

Idaho First Bank appointed Todd Cooper as the new CEO, succeeding founder Greg Lovell, who retired.

When did Todd Cooper officially become CEO of Idaho First Bank (IDFB)?

Todd Cooper officially became CEO on April 27, 2021.

What is the background of Todd Cooper at Idaho First Bank (IDFB)?

Todd Cooper joined Idaho First Bank in January 2020 as COO, later becoming President before his promotion to CEO.

Who remains involved with Idaho First Bank (IDFB) after the leadership change?

Greg Lovell remains on the Board of Directors and will continue to support the Bank.

What is Idaho First Bank’s mission?

Idaho First Bank operates under the motto 'People First and Community First', focusing on community engagement.