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SCVBank Elects Scott K. Rushing as New Chairman

SANTA PAULA, CA.  May 18, 2012 – Santa Clara Valley Bank (SCVBank;OTCBB: SCVE.OB) today announced that Mr. Scott K. Rushing has been elected Chairman of the Board.  Mr. Rushing replaces Mr. Ralph Rueda De Leon who has served as Chairman for the past three years. Mr. De Leon will continue to serve as a Director of the Bank. Additionally, Mr. Elias F. Valdes has been elected as Vice Chairman. In the spirit and tradition of community based organizations, the SCVBank Board has customarily rotated the leadership of the Board.

President and CEO Cheryl K. Knight commented, “Scott Rushing is well suited to lead SCVBank into the future.”   Mr. Rushing was raised in Santa Paula. He attended local public schools and graduated from Santa Paula Union High School in 1971. In 1975 he graduated from the University of LaVerne with a Bachelor of Arts in Business Administration. He owns Rushing Real Estate & Investment Company and has been a state licensed Broker since 1979 and a member of the Ventura County Coastal Association of Realtors. He is a Past President of the Santa Paula/Fillmore Board of Realtors and a long time member of the Santa Paula Rotary Club and is a Past-President.  Additionally, Mr. Rushing is a founding director of Santa Clara Valley Bank.

Incoming Chairman Rushing stated, “"I am honored to be selected by my fellow members of the BOD of SCVB to serve as their Chairman". "A community, in my opinion, is only as economically strong as its community bank".  "SCVB fills the void for small businesses left by national and international banks that are too large and bureaucratic to understand the financial needs of the local merchants and farmers ".  "My personal goal for the future is to continue the fine work of my predecessors in building shareholder value."  Rushing continued, “SCVBank’s future looks bright and I am excited to be a part of it.”

Knight praised outgoing Chairman De Leon for his leadership, “Mr. De Leon provided tireless support as Chairman of the Board for the past three years and as Interim President and CEO from August to November 2011.  He stepped up to the plate when the bank needed his leadership through the most difficult years in the bank’s history.”

Outgoing Chairman De Leon reflected, “It was an honor and a privilege to serve as the Bank’s Chairman for the past several years.  The challenges that faced us were many but we never lost our focus on delivery of excellent customer service.  I want to thank our senior officers and staff for all their support over the past three years. Great progress was made positioning the bank to take advantage of opportunities as the economy recovers. I am certain our new Chairman Scott Rushing will be up to the task.”

Founded in 1998, SCVBank currently operates three branches in Santa Paula, Fillmore, and Valencia.  Under its stock symbol of SCVE.OB, SCVBank’s stock is traded through McAdams Wright Ragen and Raymond James & Associate.  The Bank’s web site is www.SCVBank.com.

Santa Clara Valley Bank Corporation Headquarters
901 East Main Street
Santa Paula, California  93060
805 525-1999

Statements concerning future performance, developments or events concerning expectations for growth and market forecasts, and any other guidance on future periods, constitute forward looking statements that are subject to a number of risks and uncertainties.  Actual results may differ materially from stated expectations.  Specific factors include, but are not limited to, the effect of interest rate changes, and the ability to control costs and expenses, the impact of consolidation in the banking industry, financial policies of the United States government, and general economic conditions.
 
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