N@N

Coronado First Bank Elects New Chairman

^{Published on 2010-08-04 19:00:46 - Market Wire}
 

CORONADO, Calif.--([ BUSINESS WIRE ])--Bruce Ives, President and CEO of Coronado First Bank (the aBanka) (OTCBB: CDFB), announced today that the board of directors has elected Barbara DeMichele as chairman, replacing William Huck, who resigned from the Board effective July 20, 2010.

"Bill gave generously of his time during his tenure on the Board"

DeMichele is the 3^rd Director to serve as Chair of the Board following the practice put in place at the inception of the Bank to rotate committees and chairmanship as part of the Board succession plan. DeMichele is a founding director of the Board, served on its loan committee and chaired the governance and compensation committees. She is majority owner of BJ Communications, Inc., one of Arizonaa™s leading public relations agencies. Since moving to California more than 13 years ago, DeMichele has held several leadership positions with local organizations.

aBill gave generously of his time during his tenure on the Board,a Ives said. aThis leadership rotation comes at a time that coincides with Billa™s desire to focus more time and energy on his investment banking business. We truly appreciate the time put forth and the commitment made to ensure that Coronado First Bank successfully navigated through this very difficult economic climate and we wish him well in the future.a

Coronado First Bank is publicly traded on the Over-the-Counter Bulletin Board, ticker symbol: aCDFBa.