LAKEWOOD, CO / ACCESSWIRE / July 23, 2021 / On July 22, 2021, Solera National Bancorp, Inc. (the "Company") and Solera National Bank (the 'Bank'), a national bank and subsidiary of the Company terminated the employment of Martin P. May as President and Chief Executive Officer of the Company and Bank.
On July 22, 2021, Messrs. Philip J. Randell and Richard M. Thorne members of the Board of Directors of both the Company and the Bank indicated that they will not stand for reelection as directors of the Company upon the expiration of their terms at the Company's 2021 Annual Meeting of Shareholders to be held on September 16, 2021. Additionally, Mr. May resigned from the Board of Directors of both the Company and the Bank on July 22, 2021.
On July 22, 2021, the Bank appointed Mr. Kreighton Reed as interim President and Chief Executive Officer of the Bank. Mr. Reed joined the Bank in 2016 and was most recently the Bank's Executive Vice President of Business Development. Mr. Reed stated, "Mr. May will be missed. He is known for how easy he is to approach, his kindness and thoughtfulness, and most impressively his professionalism and strong character. During May's tenure at the Bank, it has more than doubled in size not only in the size of the Bank, but also the number of employees. May's vision transformed Solera from a sleepy, local community bank to a bank with national presence and customers. It was his vision to narrow our focus to just a few products that has enabled us to be recognized as a leader in the banking industry. The impact he has had on this bank is profound and needs to be applauded."
The Company thanks Messrs. May, Randell and Thorne for their service and commitment to the Company.
SOURCE: Solera National Bancorp, Inc.