Matrix Bancorp, Inc. Announces Appointment by Matrix Capital Bank of New Branch President for Its Proposed Boulder, Colo. Locat
March 28 2006 - 6:00AM
Business Wire
Matrix Bancorp, Inc. (NASDAQ:MTXC) (the "Company") announced today
that its Matrix Capital Bank subsidiary has appointed a new
regional president for its third community bank branch in Boulder,
Colo. Concurrently, Matrix Capital Bank chose the site for its new
Boulder location. Margie Joseph brings about 15 years of commercial
banking experience to her new role as president of the Boulder
location. Most recently, Joseph served as vice
president/relationship manager for commercial banking at Vectra
Bank in Boulder (Parent: Zions Bancorporation - NASDAQ:ZION), where
she focused on developing and maintaining commercial banking
relationships. In 2005, Joseph was named a top performer in Vectra
Bank's Commercial Banking Group, having exceeded sales expectations
and been consistently recognized for achieving revenue goals.
Additionally, she has been extensively involved in a range of
community-minded activities on behalf of Vectra. Previously, she
was a relationship manager in the business banking division of
corporate banking for Compass Bank (NASDAQ:CBSS) in Boulder. Joseph
also spent several years at U.S. Bancorp in Boulder (NYSE:USB),
first as an assistant relationship manager and prior, a credit
analyst. Patricia Myrick also joins the Company, as vice president
of branch operations and commercial banking. Her banking career
spans 17 years; most recently she was branch manager at Vectra Bank
in Boulder. Myrick brings extensive commercial bank operations and
customer service experience to the organization. Both Joseph and
Myrick will be based out of Matrix Capital Bank's recently selected
Boulder branch, at the intersection of Arapahoe and 28th Streets,
located at the gateway entrance from Interstate 36 into Boulder
proper. Once open, this facility will become the Bank's flagship
Boulder-branch headquarters. The building will occupy the full
corner lot, providing exceptional access and capability for a
drive-through banking operation and exposure to approximately
80,000 vehicles per day. It is expected that the branch site, which
will be leased upon satisfaction of final due diligence, will
become operational in the second half of 2006. Scot T. Wetzel, the
Company's president and chief executive officer and chairman,
president and chief executive officer of Matrix Capital Bank, said:
"We welcome Margie and Pat to our banking family and believe they
will be valuable additions to our organization as we build and
sustain our community banking relations in Boulder. Their extensive
commercial banking experience in the Boulder market will serve as
an excellent foundation as we seek to expand our business in what
we believe to be one of Colorado's most thriving banking markets.
"We continue to execute on our expanded business strategy and
Margie's appointment is indicative of our ability to identify
veteran seasoned bankers with deep roots within Colorado's key
markets who can serve as presidents of the community branches we
are building. This marks our third location and as previously
stated, we plan to grow this franchise to about five to seven
community-based branches during the next three to five years. We
are certainly on track to accomplish this," Wetzel explained.
Joseph added: "Joining Matrix Capital Bank is an excellent
opportunity. I will have a chance to build the business from the
ground up in Boulder, where I have developed significant
relationships and a solid footing during the seven years I've spent
here. I am excited to be part of Matrix' mission to build a
community bank franchise across Colorado's Front Range and to
oversee the Boulder operation, which represents an important
geographic area in this mix. I look forward to the contributions I
will make in my new role." Joseph resides in Broomfield, Colo. She
earned a Bachelor of Arts degree in political science and
communication from the University of Colorado at Boulder and a
master's degree in business administration from the University of
Southern California in Los Angeles. Locally, Joseph is affiliated
with many organizations and community chapters. She works with the
Emergency Family Assistance Association Guild as well as the
Boulder Rotary, and serves on the United Way Finance Committee.
Previously, she was event chair and on the steering committee for
the Boulder Chamber of Commerce-Business Women's Leadership Group
and the committee chair for the Humane Society of Boulder Valley.
Myrick is relocating to Broomfield. She earned a Bachelor of
Science in business administration from the University of
Colorado-Denver campus. Denver-based Matrix Bancorp, Inc. is
focused on developing its community-based banking network through
its Matrix Capital Bank subsidiary by strategically positioning
branches across Colorado's Front Range market. The Bank plans to
grow its network to an estimated five to seven community-based
branches over the next three to five years. The Company recently
identified "United Western" as its proposed new brand name and
anticipates a formal change in legal and trade names during second
or third quarter of 2006, after receiving applicable regulatory and
shareholder approvals. At December 31, 2005, the Company reported
total consolidated assets of $2.1 billion, total loans of $1.4
billion, total deposits of $1.1 billion and total consolidated
shareholders equity of $180.7 million (includes proceeds used for
the Company's January 2006 tender offer). For more information,
please visit www.matrixbancorp.com. Certain statements contained in
this press release that are not historical facts, including, but
not limited to, statements that can be identified by the use of
forward-looking terminology such as "may," "will," "expect,"
"anticipate," "predict," "believe," "plan," "estimate" or
"continue" or the negative thereof or other variations thereon or
comparable terminology, are forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995,
and involve a number of risks and uncertainties. The actual results
of the future events described in such forward-looking statements
in this interim report could differ materially from those stated in
such forward-looking statements. Among the factors that could cause
actual results to differ materially are: the timing of regulatory
approvals or consents for new branches or other contemplated
actions; the availability of suitable and desirable locations for
additional branches; the continuing strength of our existing
business, which may be affected by various factors, including, but
not limited to, interest rate fluctuations; level of delinquencies;
defaults and prepayments; general economic conditions; competition;
the delay in or failure to receive any required shareholder
approvals of the contemplated actions; the risks and uncertainties
discussed elsewhere in the Company's Annual Report on Form 10-K for
the year ended December 31, 2004, and in the Company's Current
Report on Form 8-K, filed with the Securities and Exchange
Commission on November 7, 2005; and the uncertainties set forth
from time to time in the Company's periodic reports, filings and
other public statements.
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