LA JOLLA, Calif., April 06, 2026 (GLOBE NEWSWIRE) -- Private Bancorp of America, Inc. (OTCQX:PBAM), (“Company”) and CalPrivate Bank (“Bank”) today announced that Michael Pierron has joined the Bank as Executive Vice President and Chief Operating Officer. Mr. Pierron has over 25 years of experience in banking operations, payments, technology, strategic execution and enterprise transformation.
During his career, Michael has led teams responsible for banking operations, strategic sourcing, and technology-enabled process improvement. Prior to this role, he spent seven years at a regional bank as EVP, Head of Payments, where his work focused on growing core relationship deposits, improving treasury management offerings, and enhancing profitability through stronger fee income and lower-cost funding. He has built a strong reputation for improving operational efficiency, leading complex initiatives, and supporting profitable growth across banking organizations.
“We are excited to have Michael join the Team. He is a smart operator and understands our goal of continuing to build a scalable client centric model,” said Rick Sowers, President & CEO of CalPrivate Bank. “His background in banking operations, technology and payments positions him well to contribute to our long-term strategy and strengthen our organization.”
“I am honored to step into this role and join such a talented and dedicated team at CalPrivate Bank,” said Michael Pierron. “The strength of this organization has always been its team, and I look forward to working together to build on that foundation, service our clients with excellence, and drive continued growth and innovation.”
About Private Bancorp of America, Inc.
Private Bancorp of America, Inc. (OTCQX: PBAM) PBAM is the holding company for CalPrivate Bank, which operates offices in Coronado, San Diego, La Jolla, Newport Beach, El Segundo, Beverly Hills, and Montecito, as well as through efficient digital banking services. CalPrivate Bank is driven by its core values of building client Relationships based on superior client Solutions, unparalleled Service, and mutual Trust. The Bank caters to high-net-worth individuals, professionals, closely held businesses, and real estate entrepreneurs, delivering a Distinctly Different™ personalized banking experience while leveraging cutting-edge technology to enhance our clients’ evolving needs. CalPrivate Bank is in the top tier of customer service survey ratings in the nation, scoring almost three times higher than the median domestic bank. The Bank offers comprehensive deposit and treasury services, rapid and creative loan options including various portfolio and government-guaranteed lending programs, cross border banking, and innovative, unique technologies that drive enhanced client performance. CalPrivate Bank has been recognized by Bank Director's RankingBanking® as the 10th best bank in the country and the #1 bank in its asset class for both return on assets (ROA) and return on equity (ROE). CalPrivate Bank was also ranked in the top 5% of banks in the U.S. with assets between $2B and $10B by American Banker for both 2024 and 2025. Additionally, CalPrivate Bank is a Bauer Financial 5-star rated bank, an SBA Preferred Lender, and has been honored as Community Bank SBA 504 Lender of the Year by the NADCO Community Impact Awards, exemplifying excellence in the banking industry. These prestigious rankings highlight the Bank’s commitment to delivering exceptional banking services and setting new industry standards.
Learn more at www.calprivate.bank.
Investor Relations Contact
Rick Sowers
President and CEO
Private Bancorp of America, Inc.
(424) 303-4894
Cory Stewart
CFO
Private Bancorp of America, Inc.
(424) 348-2145
Safe Harbor Paragraph
This press release contains expressions of expectations, both implied and explicit, that are “forward looking statements” within the meaning of such term in the Private Securities Litigation Reform Act of 1995. We caution you that a number of important factors could cause actual results to differ materially from those in the forward-looking statements, especially given the current turmoil in the banking and financial markets. These factors include the effects of depositors withdrawing funds unexpectedly, counterparties being unable to provide liquidity sources that we believe should be available, loan losses, economic conditions and competition in the geographic and business areas in which Private Bancorp of America, Inc. operates, including competition in lending and deposit acquisition, the unpredictability of fee income from participation in SBA loan programs, the effects of bank failures, liquidations and mergers in our markets and nationally, our ability to successfully integrate and develop business through the addition of new personnel, whether our efforts to expand loan, product and service offerings will prove profitable, system failures and data security, whether we can effectively secure and implement new technology solutions, inflation, fluctuations in interest rates, legislation and governmental regulation. You should not place undue reliance on forward-looking statements, and we undertake no obligation to update those statements whether as a result of changes in underlying factors, new information, future events or otherwise. These factors could cause actual results to differ materially from what we anticipate or project. You should not place undue reliance on any such forward-looking statement, which speaks only as of the date on which it was made. Although we, in good faith, believe the assumptions and bases supporting our forward-looking statements to be reasonable there can be no assurance that those assumptions and bases will prove accurate.
