Denver, CO – October 23, 2020 – InBankshares, Corp and InBank, an independent commercial bank serving the Denver Metro Area, southern Colorado and northern New Mexico, announced today that Lead Director, Dave Rainer, has resigned from the Board to pursue new opportunities and current Board Member, Eric Donnelly, has been appointed Interim Lead Director.
Donnelly is CEO of Capital Plus Financial which through its holding company, Crossroads Systems, is the first publicly traded nonbank Community Development Financial Institution (CDFI), providing affordable housing and mortgage financing to Hispanic communities. He has 20 years of expertise in banking and specialty finance focusing on small business, consumer and CRE lending. He is a member of the Latino Corporate Directors Association whose mission is to develop, support and increase the number of US Latinos on public corporate boards. He has a B.A. from SMU and is a graduate of The Center for Houston’s Future Leadership Program and Stanford Latino Entrepreneur Scaling Program.
Rainer is the former Chairman and CEO of California United Bank and will be pursuing a new business venture. “My involvement with a new venture will make it difficult for me to fulfill the time required for me to be effective in my current Board position with InBankshares, Corp,” says Rainer. “While I am excited about my new business opportunity, I’m disappointed that I have to step down from the Board. My experience working with InBank CEO, Ed Francis, and the other members of the Board and witnessing the growth of InBank has been extremely fulfilling.”
The Board voted unanimously to appoint Donnelly as Interim Lead Director.
“We are grateful to Dave Rainer for his tenure on our Board and the expertise and insights he has brought to this position. We were fortunate to have Dave’s experience on the Board. He has made a very positive impact on our company,” says Ed Francis, Chairman of the Board, President and Chief Executive Officer for InBankshares, Corp and InBank. “We wish Dave the very best as he pursues new business opportunities and welcome Eric Donnelly as Interim Lead Director. I look forward to working closer with Eric as InBank continues to experience positive growth and delivers exciting opportunities for our shareholders, customers and our valued associates.
About InBankshares, Corp
InBankshares, Corp is the holding company for InBank, an independent commercial bank serving the Denver Metro Area, southern Colorado and northern New Mexico. Established as International Bank in 1918, the bank was founded by a young Italian immigrant and built upon the entrepreneurial spirit. With a modern vision for the next 100 years, InBank is committed to delivering a new generation of personalized banking services and to the mission of positively impacting the lives of our customers, communities and associates. For more information, visit www.InBank.com.
This press release contains, among other things, certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, statements preceded by, followed by, or that include the words “may,” “could,” “should,” “would,” “believe,” “anticipate,” “estimate,” “expect,” “intend,” “plan,” “projects,” “outlook” or similar expressions. These statements are based upon the current belief and expectations of InBankshares’ management team and are subject to significant risks and uncertainties that are subject to change based on various factors (many of which are beyond InBankshares’ control). Although InBankshares believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove to be inaccurate. Therefore, InBankshares can give no assurance that the results contemplated in the forward-looking statements will be realized. The inclusion of this forward-looking information should not be construed as a representation by InBankshares or any person that the future events, plans, or expectations contemplated by InBankshares will be achieved.
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