PORTLAND, OR--(Marketwire - May 3, 2012) - Capital Pacific Bancorp (OTCQB: [ CPBO ]) (OTCBB: [ CPBO ]) -- Josiah C. Hornblower, a financial analyst and investor, has been elected to serve on Capital Pacific Bancorp's Board of Directors.

"Josiah is a respected and knowledgeable investment strategist with a broad understanding of community banks and what makes them successful," said Mark Stevenson, president and CEO of Capital Pacific Bancorp. "He knows our bank well from his days as principal at Resource America when they invested in 2008; since then he's been a great strategic and information resource to our management team."

Hornblower is a co-founder and managing member of Blue Pine Partners, LLC, a private investment firm focused on community banks. Blue Pine was the lead investor in Capital Pacific Bancorp's 2011 capital raise. Prior to founding Blue Pine Partners, he was a principal at Resource Financial Institutions Group, Inc., which manages private equity funds solely devoted to investing in early stage commercial banks. He also served on the Board of Directors of Pacific Enterprise Bancorp, an Orange County, California-based commercial bank holding company.

He is a Phi Beta Kappa graduate of Trinity College in Hartford, Conn., and resides in Atherton, Calif.

About Capital Pacific Bancorp
Capital Pacific Bancorp (OTCQB: [ CPBO ]) (OTCBB: [ CPBO ]) is the parent company of Capital Pacific Bank, which serves businesses, professionals and non-profit organizations with comprehensive banking expertise and an elite level of service. Centrally headquartered in the Fox Tower in downtown Portland, the Bank's full array of products and services are delivered through a strategic combination of Vice President-level client service officers and the innovative application of technology. For more information on Capital Pacific Bancorp or to see past press releases, visit [ www.capitalpacificbank.com ].