Tila Banuelos and George Gallucci to Retire from Santa Cruz County Bank Board of Directors

Rhea-AI Summary

Santa Cruz County Bank (OTC: SCZC) announced the retirement of founding Director Tila Banuelos and founding Chairman George Gallucci, effective May 26, 2021. Both have been pivotal in the bank's growth since its inception in 2004.

Chairman William J. Hansen expressed gratitude for their contributions. Banuelos has a robust background in banking, while Gallucci has extensive experience in investment advising. The bank, with assets over $1.4 billion, emphasizes community service and ranks highly among California community banks.

Positive

• Tila Banuelos and George Gallucci provided foundational leadership since the bank's inception.
• Santa Cruz County Bank has received multiple accolades and maintains a strong community focus.

Negative

• The retirement of founding members may create uncertainty regarding leadership continuity.

SANTA CRUZ, Calif., April 13, 2021 /PRNewswire/ -- Santa Cruz County Bank (OTC: SCZC), with assets over $1.4 billion, is a top rated community bank headquartered in Santa Cruz County. Today the Bank announced the retirement of founding Director Tila Banuelos and founding Chairman, George Gallucci from its Board of Directors, effective as of the date of the Bank's Annual Meeting of Shareholders on May 26, 2021.

Chairman William J. Hansen stated, "Today we announce the upcoming retirement of Tila Banuelos and George Gallucci from our Board of Directors. On May 26, 2021, Tila and George will retire from our Board after serving as founding Directors since the Bank's inception. On behalf of the entire Board of Directors of Santa Cruz County Bank, we thank both Tila and George for their service, business referrals and lasting contributions to Santa Cruz County Bank. Their involvement from the beginning has been instrumental in the success of Santa Cruz County Bank. We wish the very best for both Tila and George in the next chapter of their lives!"

Tila Banuelos is President and CEO of Mas Mac, Inc., which owns 3 MacDonald's franchises in Watsonville, California. Ms. Banuelos' banking background includes a 32-year career at Bank of America where she accelerated to Vice President and Manager. Tila has a teaching degree in Banking and Finance, and taught at Rio Hondo College, Whittier, CA from 1979-1989. She received her Bachelor of Science degree in Human Relations, Organizational Behavior from University of San Francisco. An avid community supporter and volunteer, Tila has been honored by numerous community and national organizations in recognition of her vast business leadership experience and community engagement. 

Founding Director Tila Banuelos commented, "It is a great honor to be a founding board member of Santa Cruz County Bank. I am proud of our work over the years in hiring the folks that joined us to build a new community bank from the ground up.  Meeting with, and obtaining approval, from state and federal bank regulators was an awesome experience.  I am so proud of our employees, the great success of our Bank, and how we've worked together in meeting the challenges of growth and current times. Now it's time for the next chapter of my life: family, church, and good friends."

George Gallucci is a retired Registered Investment Advisor and banker. George worked at County Bank and Trust in Santa Cruz, California, and its successor, Pacific Western Bank, from 1968-1990. He became a Registered Investment Advisor at Scharf Investments, a private investment advisory firm, in 1991. He left his role as Director of Client Relations at Scharf Investments in 2013.

Former Founding Chairman George Gallucci remarked, "It has been extremely gratifying to be part of the group that launched Santa Cruz County Bank. The success enjoyed by the Bank is largely the result of the management team and their commitment to the Bank and the community.  I thank each and every one for their contributions. I leave the Board of Directors with the confidence that it is in good hands to perpetuate the success we have established as part of our goals and objectives."

ABOUT SANTA CRUZ COUNTY BANK
Santa Cruz County Bank was founded in 2004. It is a top-rated, locally-owned and operated, full-service community bank headquartered in Santa Cruz, California. The bank has eight branches–Aptos, Capitola, Cupertino, Monterey, Santa Cruz (2), Scotts Valley and Watsonville. Santa Cruz County Bank is distinguished from "big banks" by its relationship-based service, problem-solving focus and direct access to decision makers. The bank is a leading SBA lender in Santa Cruz County and Silicon Valley and a top USDA lender in the state of California. As a full-service bank, Santa Cruz County Bank offers competitive deposit and lending solutions for businesses and individuals; including business loans, lines of credit, commercial real estate financing, construction lending, agricultural loans, SBA and USDA government guaranteed loans, credit cards, merchant services, remote deposit capture, mobile and online banking, bill payment and treasury management. True to its community roots, Santa Cruz County Bank has supported regional well-being by actively participating in and donating to local not-for-profit organizations.

Santa Cruz County Bank stock is publicly traded on the OTC marketplace under the symbol SCZC. Stock purchase orders may be placed online, through a brokerage firm, or through Market Makers listed in the Investor Relations section of the bank's website. For more information about Santa Cruz County Bank, visit www.sccountybank.com.

NATIONAL, STATE, AND LOCAL RATINGS AND AWARDS 
S&P Global Top 100 Community Banks: Santa Cruz County Bank has ranked in the Top 100 Community Banks by S&P Global for 6 consecutive years. 
Financial Management Consulting (FMC) Group: Santa Cruz County Bank has ranked in FMC's top ten banks in California for the past 6 years.
The Findley Reports, Inc.: The Bank has received the top ranking of Super Premier by Findley for 11 consecutive years.
Bauer Financial Reports, Inc.: Santa Cruz County Bank is rated 5-star "Superior" based upon its financial performance for every quarter in 2020.
The Bank ranks 11th in the Silicon Valley, for the number of SBA loans lent to Silicon Valley businesses for the SBA's 2020 fiscal year, inclusive of the counties of San Mateo, Santa Clara, Santa Cruz, San Benito and Monterey.

COMMUNITY AWARDS AND RECOGNITION
Second Harvest Food Bank, Platinum Award for 2020 Holiday Food & Fund Drive.
Santa Cruz Sentinel, 2020 Reader's Choice Award, Voted "Best Bank" in Santa Cruz County.
Good Times, 2020 Best of Santa Cruz County Award, Voted "Best Bank" for 9 consecutive years.
Santa Cruz Waves Magazine, 2020 Swellies Awards, Voted "Favorite Bank" in Santa Cruz County.  

This release may contain forward-looking statements that are subject to risks and uncertainties. Such risks and uncertainties may include but are not necessarily limited to fluctuations in interest rates, inflation, government regulations and general economic conditions, and competition within the business areas in which the Bank is conducting its operations, including the real estate market in California and other factors beyond the Bank's control. Such risks and uncertainties could cause results for subsequent interim periods or for the entire year to differ materially from those indicated. Readers should not place undue reliance on the forward-looking statements, which reflect management's view only as of the date hereof. The Bank undertakes no obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances.

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SOURCE Santa Cruz County Bank

FAQ

What is the date of retirement for Tila Banuelos and George Gallucci from Santa Cruz County Bank?

Tila Banuelos and George Gallucci will retire from the Board of Directors effective May 26, 2021.

Who will replace Tila Banuelos and George Gallucci on the Board of Directors?

The press release does not specify who will replace them on the Board of Directors.

What impact might the retirements of founding members have on Santa Cruz County Bank?

The retirements could affect leadership continuity and investor confidence, as both members were integral to the bank's establishment and growth.

What is Santa Cruz County Bank's stock symbol?

Santa Cruz County Bank is publicly traded on the OTC marketplace under the symbol SCZC.