Board of Directors Announcement of the Departure of CEO

Rhea-AI Summary

Solera National Bancorp, Inc. (OTC PINK:SLRK) announces the departure of CEO Scott Wilson, effective immediately. The Board of Directors will serve as interim leadership. Mike Quagliano, Executive Chairman, expressed confidence in the Board's ability to guide the company through this transition, highlighting Jordan Wright as a key figure in advancing FinTech initiatives. Cheri Walz, CFO, emphasized the company's unique business model and commitment to leverage emerging technologies for growth.

Positive

• Jordan Wright's deep FinTech experience could drive innovation and expansion.
• The Board's hands-on leadership may ensure continuity and strategic direction.

Negative

• Uncertainty surrounding the leadership transition might impact investor confidence.

LAKEWOOD, CO / ACCESSWIRE / February 25, 2022 / Solera National Bancorp, Inc. (the "Company") (OTC PINK:SLRK) and Solera National Bank (the ‘Bank'), a national bank and subsidiary of the Company announced the departure of their CEO, Scott Wilson. The Board of Directors will assume the responsibility of President and CEO. All changes are effective immediately.

Mike Quagliano, Executive Chairman of the Board, commented that he "wishes Scott well, he is a great credit person." He also commented that "Our entire Board has stepped up during this time of change. I am especially grateful to have Mr. Jordan Wright providing leadership and vision to our team, given his deep background in FinTech and the way he's stepped in to help. We hope to revolutionize the future of banking. Our Company has a strong team and each and every one of the team members are behind our Company's strong growth and profitability. I am very happy with what is happening here at the Bank and where we are at this point. We are building this Bank for the future".

Mr. Wright, Executive Vice Chairman of the Board, will continue his leadership role in the Company while also introducing expansion of the Company's FinTech initiatives. Mr. Wright stated "I have found my time at the Bank to be very rewarding and exciting. The future possibilities for the Bank as we bring forward "tech" in FinTech are limitless. The team is the key to making the future a reality and we see it happening in so many ways already".

Ms. Cheri Walz, Executive Vice President/Chief Financial Officer also commented, "Solera's unique business model poises us to transform from a traditional bank model to the bank of the future. By adopting and leveraging emerging technologies and new business models, technology will be the driver of our business growth and help us to deliver a wide range of services with outstanding customer experience. Solera is so fortunate to have so many fantastic Board members leading us into this changing banking landscape."

Investor Relations Contacts:

Cheri Walz
Executive Vice President, Chief Financial Officer
cwalz@solerabank.com

SOURCE: Solera National Bancorp, Inc.

View source version on accesswire.com:
https://www.accesswire.com/690508/Board-of-Directors-Announcement-of-the-Departure-of-CEO

FAQ

Who is the new CEO of Solera National Bancorp?

The Board of Directors will serve as interim leadership following the departure of Scott Wilson.

What are the implications of Scott Wilson's departure for SLRK?

The departure may create uncertainty, but the Board aims to maintain stability during this transition.

How will Jordan Wright influence Solera's future?

Jordan Wright is expected to drive FinTech initiatives and provide strategic vision.

What is the focus of Solera National Bancorp moving forward?

The company aims to leverage emerging technologies to transform into a future-focused bank.