Pacific West Bank Announces Jason Wessling as Bank President

Rhea-AI Summary

Pacific West Bank (OTC: PWBO) announced the promotion of Jason Wessling to Bank President, pending regulatory approval. Wessling, who remains Chief Financial Officer, has been instrumental in the bank's growth from $90 million in assets in 2018 to $300 million as of July. His leadership was recognized in 2021 when he was named CFO of the Year by the Portland Business Journal. The bank, established in 2004, serves the greater Portland area and focuses on providing tailored banking solutions to businesses and individuals.

Positive

• Promotion of Jason Wessling to Bank President, indicating strong leadership.
• Significant asset growth from $90 million to $300 million under Wessling's leadership.
• Recognition as CFO of the Year by the Portland Business Journal, enhancing bank's reputation.

Negative

• None.

WEST LINN, Ore., Aug. 9, 2022 /PRNewswire/ -- Pacific West Bank (OTC: PWBO) today announced that Jason Wessling has been promoted to Bank President subject to regulatory approval. Jason will also continue as the Bank's Chief Financial Officer and will join the Banks Board of Directors.

"Jason was the first executive recruited after the capital raise in 2018. At that time, the Bank had roughly $90.0 million in assets. Since then, under Jason's leadership as CFO the Bank has grown to $300 million, a milestone the Bank celebrated in July. The Bank recognized Jason's leadership contribution in October of 2020 by naming him the Bank's first Executive Vice President. His accomplishments were magnified during the following two years and were a significant determinant to the Bank's 3x growth during a time of unprecedented economic challenge," Terry Peterson the Bank's Chief Executive Officer.

"The Portland Business community honored Jason's leadership and successes by naming him CFO of the year by the Portland Business Journal in 2021. Jason demonstrates the Bank's culture of relationship banking by focusing on the growth of each relationship the Bank has with the community, businesses, non-profits, and the amazing team of Bankers at PWB," said Ed Kawasaki Board Chairman of the Bank.

Before joining Pacific West Bank, Jason was an executive at Premier Community Bank as its Chief Financial Officer with prior experience with Moss Adams, a public accounting firm as a specialist within the Financial Institutions practice. Jason is a CPA in the State of Oregon and is a member of the Oregon Society of CPAs and the AICPA.   

About Pacific West Bank: Information about the Bank's stock is available through the over-the-counter marketplace at www.otcmarkets.com (symbol PWBO).

Pacific West Bank was formed in 2004 by Portland businesspeople to deliver loan and deposit product solutions through experienced and professional bankers to businesses, nonprofits, professionals, and individuals. The Bank serves the greater Portland Metro area with offices strategically located in Downtown Portland, Lake Oswego, and West Linn.

Media Contact:
Terry A. Peterson
Chief Executive Officer
(503) 905-2217
tpeterson@bankpacificwest.com

Certain statements in this release may be deemed to be "forward-looking statements." Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. These statements are based on current plans, estimates and projections, and therefore you should not place undue reliance on them. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events. Forward-looking statements involve inherent risks and uncertainties. We caution you that a number of important factors could cause actual results to differ materially from those contained in any forward-looking statement.

 

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SOURCE Pacific West Bank

FAQ

Who is the new Bank President of Pacific West Bank?

Jason Wessling has been promoted to Bank President, pending regulatory approval.

What is the stock symbol for Pacific West Bank?

The stock symbol for Pacific West Bank is PWBO.

What significant achievement did Pacific West Bank reach recently?

Pacific West Bank achieved a milestone of $300 million in assets as of July.

What recognition did Jason Wessling receive in 2021?

Jason Wessling was named CFO of the Year by the Portland Business Journal in 2021.

When was the announcement of Jason Wessling's promotion made?

The announcement was made on August 9, 2022.