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Press Release

Presidio Bank Announces Senior Management Change

Company Release - 5/30/2008 10:00 AM ET


Presidio Bank (PDOB), the successful Bay Area business bank, today announced the resignation of President and CEO Stephen A. Fleming, effective August 31, 2008. Presidio chairman and co-founder James R. Woolwine will assume Fleming's CEO responsibilities on an interim basis, as a search is undertaken for a new President and CEO. Robert Leet, a member of Presidio's Board and a long time Bay Area banker, will also step in on an interim basis to fill the role of Bank President.

"Over the past three years, Steve has done a terrific job of building the Bank's assets, reputation, and reach," Woolwine said. "During the first quarter of 2008, Presidio Bank experienced its fastest rate of growth since our opening in July 2006. This is in large part due to Steve's leadership, the team he has assembled, and Presidio Bank's successful business development efforts undertaken throughout the Bay Area. Steve is leaving us with a very solid balance sheet and a robust pipeline of new business."

As of March 31, 2008, the Bank had total assets of $160 million, a $30 million increase from the previous quarter. The quarter also was marked by significant expansion in the loan portfolio (up $21 million) and the deposit base (up $30 million). Since opening in San Francisco less than two years ago, the Bank has added offices in San Rafael, Santa Rosa and Walnut Creek.

Fleming, a co-founder of Presidio Bank, has more than 25 years of experience in banking, with both large and small institutions. He began working on the formation of Presidio Bank in 2005 following his tenure as the President and CEO of National Bank of the Redwoods, which was acquired that same year by WestAmerica.

"After leaving Bank of America with 20 years of experience in London and San Francisco, I found that my career interests rest with challenging projects in the banking industry, including working with community-focused banks, positioning them to grow and to excel in their markets," Fleming said. "I've done that here at Presidio, and it's now time for me to take on a new challenge in the financial services arena. The Bank is well-positioned and staffed for future growth and success, even in today's challenging economic environment."

Woolwine, who has more than 30 years of banking experience, is active in the Bay Area business community, including serving as Chairman of the San Francisco Chamber of Commerce for 2008.

About Presidio Bank

Founded in the summer of 2006, Presidio Bank (PDOB) was the first new locally-owned and managed commercial bank in San Francisco in more than 20 years. With initial equity capital of $40 million, it was also the largest initial capitalization of a new bank in California history. Through its offices in San Francisco, Walnut Creek, San Rafael and Santa Rosa, Presidio Bank offers successful small- and medium-sized Bay Area businesses a comprehensive array of commercial banking products and professional services. Presidio Bank services the financial needs of a variety of commercial customers, including non-profit organizations, real estate investors and developers, professional service firms, and their owners, partners, and executives.

Presidio Bank has its headquarters at One Montgomery Street, Suite 2300, San Francisco, California 94104; telephone: 415.229.8400;

Source: Presidio Bank

Contact: Presidio Bank Jim Woolwine, 415-229-8401 or MacKenzie Communications Janis MacKenzie, 415-403-0800