1st Enterprise Bank, W. Peter Bohn and Thomas F. Savage
Join the 1st Enterprise Bank Senior Advisory Team
Monday, September 8th, 2008
LOS ANGELES, CA - 1st Enterprise Bank (the Bank) (OTC BB:FENB.OB – News) announced today that two well known and highly respected California bankers, W. Peter Bohn and Thomas F. Savage, have joined the Bank as Senior Advisors.
Mr. Bohn and Mr. Savage were founding executives of the former 1st Business Bank in downtown Los Angeles, one of the most highly successful independent business banks in the history of California banking. 1st Business Bank was opened on May 1, 1981 and grew organically to over $3 billion in assets over its twenty seven year history. During this period it consistently received the highest ratings from all of the leading bank rating agencies. Further, it maintained remarkably high asset quality and one of the lowest ratios of troubled loans in the industry through several difficult economic cycles. 1st Business Bank was acquired by Mellon Financial Corporation (subsequently BNY Mellon) in 1998 and it became Mellon 1st Business Bank. BNY Mellon sold the bank to US Bank in June of this year.
Mr. Bohn began his career with Union bank in 1960. He served in increasing levels of responsibility until resigning in 1980 to form 1st Business Bank in downtown Los Angeles. He held the title of Executive Vice President at 1st Business Bank, overseeing all areas of the bank’s operational functions. From 1998 until the end of 2007, Mr. Bohn also served on the board of directors of Mellon 1st Business Bank.
Mr. Savage began his career with Union Bank in Los Angeles in 1958. After serving in various lending and credit positions he became the Senior Loan and Credit Officer for Union Bank’s historic 8th and Hill Street regional office (the original headquarters location of Union Bank). Mr. Savage left Union Bank in 1980, along with Mr. Bohn and two others, to form 1st Business Bank. He served as Executive Vice President and Chief Credit Officer for 1st Business Bank throughout his entire career with that bank. He also served on the board of directors of Mellon 1st Business Bank from 1998 until 2007.
Mr. Savage commented, “I wanted to be involved with bankers in whom I had great confidence and trust, and who employ creative and sound lending practices that enable their customers to grow and prosper through up and down economic cycles”.
“The management and staff of 1st Enterprise Bank bring a depth of banking knowledge and many years of experience serving the local business banking market. Their approach to personalized customer service is tried and true”, said Mr. Bohn when asked why he chose to become associated with 1st Enterprise Bank.
“We are extremely excited to have Peter and Tom associated with 1st Enterprise Bank”, said John C. Black, Chief Executive Officer. “Their tremendous experience in having founded and developed such a highly successful bank will be a very significant asset for us as we go forward”, said Mr. Black. “When we started forming 1st Enterprise Bank, we never imagined having the good fortune of bringing these two individuals onto our team”, said K. Brian Horton, President of 1st Enterprise Bank. “Their reputations are impeccable, and what they built over their long banking careers speaks for itself”.
Mr. Bohn and Mr. Savage will join Marshall Laitsch on the 1st Enterprise Bank Senior Advisory Team, and will assist bank management on a consultative basis with strategic growth and development initiatives as well as represent the bank in the local business and professional communities.
About 1st Enterprise Bank
Founded in 2006, 1st Enterprise Bank is a full-service commercial banking institution, whose highly experienced bankers personally serve Southern California entrepreneurial businesses, professional firms and nonprofit organizations, along with their owners and key managers. Headquartered in the Los Angeles financial district, with full-service regional banking offices in Irvine and Ontario, 1st Enterprise Bank offers a full range of credit and depository services, with special emphasis on superior customer service, sophisticated cash management services and direct access to bank decision makers. Customers work directly with a dedicated Relationship Manager, a seasoned professional who understands their unique challenges serving as a sounding board and an active participant in their client's success. For more information on 1st Enterprise Bank, please visit www.1stenterprisebank.com.
This news release contains statements that are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations, estimates and projections about 1st Enterprise bank’s business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including those described above and the following: 1st Enterprise Bank’s timely implementation of new products and services, technological changes, changes in consumer spending and savings habits and other risks discussed from time to time in 1st Enterprise Bank’s reports and filings with banking regulatory agencies. In addition, such statements could be affected by general industry and market conditions and growth rates, and general domestic and international economic conditions. Such forward-looking statements speak only as of the date on which they are made, and 1st Enterprise Bank does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release.
John C. Black
Chief Executive Officer