Mission Bank announces next steps in board succession strategy

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Mission Bancorp announces the retirement of Arnold Cattani, Chairman Emeritus and Current Director, and the appointment of Emmy Cattani from Cattani Farming, Ranching & Real Estate, and Michael Hair, Jr. from Real Estate Development and Construction, to the board of directors. This strategic move aligns with the bank's 25th-anniversary celebration and aims to position the organization for future growth and success.

• Arnold Cattani, Chairman Emeritus and Current Director, Mission Bancorp/Bank announces retirement, as of May 2024
• Emmy Cattani, Cattani Farming, Ranching & Real Estate, appointed to Mission Bancorp/Bank board of directors as of February, 2024
• Michael Hair, Jr., Real Estate Development and Construction, appointed to Mission Bancorp/Bank board of directors as of February, 2024

BAKERSFIELD, Calif., Jan. 23, 2024 /PRNewswire/ -- Mission Bancorp ("Mission" or "the Company"), (OTC Pink: MSBC), a bank holding company and parent of Mission Bank (the "Bank"), announces plans for board succession as bank celebrates 25^th anniversary and implements board succession strategy, positioning the organization for next phase of growth and success.

"Mission Bank has always been intentional about the composition of the board of directors." Says Board Chairman Bruce Beretta. "The succession strategy will lead us toward a brilliant future and continued robust growth and profitability that is the hallmark of our organization, while ensuring the values created by our founders remain the cornerstone of our culture."

Founding board member Arnold Cattani has announced his retirement, slated for Spring of 2024.  Cattani, a Kern County native, and pillar of the California Banking industry built the bank's first board of directors and led the process to launch Mission.  Beretta has served alongside Cattani for 25 years.

"I have worked with Arnold since the beginning and his knowledge and strength of character has been the driving force behind Mission's climb to the $1.6 billion dollar organization it is today." says Beretta.  "His retirement is well-deserved, and we will continue with the same passion and commitment he has displayed during his tenure."

Mission Bank has appointed two new members to the board of directors, Emmy Cattani and Michael Hair, Jr. 

Daughter of Arnold Cattani, Emmy is a board member of Cattani Farming, Ranching & Real Estate, holds a Bachelor of Arts from Harvard College and an MBA from the Stanford Graduate School of Business.  She comes with a wealth of experience and a fresh new perspective that Mission leadership believes will be instrumental in propelling the organization forward. 

"I am very excited to join Mission's board of directors, especially at such an exciting time in the bank's history." says Cattani.  "I hope the knowledge and skill I bring to the table will help drive this organization forward.  It's an honor to be named part of the team."

Michael Hair, Jr. is a graduate of Fresno State University and has over 25 years of experience in construction, land development and real estate in California, Arizona, Nevada, and Idaho.  He currently sits on the board of directors of the Home Builders Association of Kern County. 

"I am excited to join Mission Bank leadership and share the insights I have as a business owner, developer, and investor." says Hair.  "My experiences will bring a unique perspective that I hope will help contribute to the growth and success in the next 25 years."

The addition of Cattani and Hair is part of Mission Bank's overall succession strategy that, President and CEO A.J. Antongiovanni says will guide the organization over the next several years ensuring thoughtful board perspectives and the continuity of strong corporate governance.

"If you look at our industry and the history of banking in Kern County and the central valley you have seen many local banks come and go. That's not us, our plans are to endure, grow, and thrive." says Antongiovanni. "That's why the timing of our anniversary and a solid leadership strategy go hand in hand.  We are honoring our beginnings, looking forward to the future, and putting the best people in place to make our vision a reality." 

About Mission Bancorp

Mission Bancorp is the parent holding company of Mission Bank and Mission Bank 1031 Exchange, LLC. Mission is headquartered in Bakersfield, California and has eight Business Banking Centers, serving the greater areas of Bakersfield, Lancaster, Stockton, Ventura, Visalia, and San Luis Obispo, California. The Bank is currently $1.6 billion in total assets serving local business owners throughout California. Mission's core purpose is to fuel and grow vibrant and prosperous communities, accomplished by focusing on delivering superior services and best in class experiences to business owners, professionals, and organizational leaders.

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SOURCE Mission Bank

FAQ

Who announced retirement from Mission Bancorp?

Arnold Cattani, Chairman Emeritus and Current Director, announced retirement from Mission Bancorp.

Who was appointed to the Mission Bancorp board of directors in February 2024?

Emmy Cattani from Cattani Farming, Ranching & Real Estate, and Michael Hair, Jr. from Real Estate Development and Construction, were appointed to the Mission Bancorp board of directors in February 2024.

What is the ticker symbol for Mission Bancorp?

The ticker symbol for Mission Bancorp is MSBC.

What is the significance of the board succession for Mission Bancorp?

The board succession is part of a strategy to position the organization for the next phase of growth and success, aligning with the bank's 25th-anniversary celebration.