Coastal Community Bank Announces Chief Credit Officer’s Retirement
September 05 2018 - 11:22AM
Coastal Financial Corporation (“Coastal”), the bank holding company
for Coastal Community Bank announced that Executive Vice President
and Chief Credit and Risk Officer Pamela Hammond retired from the
Everett, WA based community bank on September 5, 2018. As
Chief Credit Officer since 2004, Hammond was responsible for the
$850 million bank’s credit division, which includes credit
administration, credit operations, loan underwriting and risk
management.
In her 13 plus years with Coastal, Hammond lead the bank’s
credit division through the great recession, working closely with
customers and lenders. She then managed the bank’s
significant growth while maintaining a sound credit culture.
“With Pam’s leadership, Coastal was able to balance loan growth
with the robust controls and underwriting that ensures a safe and
quality loan portfolio,” said Eric Sprink, CEO and President of
Coastal Community Bank. He added, “Her experience and
in-depth knowledge of our market and lending made her an
instrumental part of our success. While we will miss
her contributions, we wish her the best, and know that she has left
the bank with well-established procedures and systems in
place.”
Coastal expects to announce Hammond’s successor in the coming
weeks.
About Coastal Financial Corporation
Coastal Financial Corporation is the bank holding company for
Coastal Community Bank, headquartered in Everett, Washington, which
provides a wide range of banking products and services to consumers
and small to medium sized businesses in the Puget Sound region in
the state of Washington. As of June 30, 2018, Coastal had total
assets of $850.9 million, total loans of $700.7 million and total
shareholders’ equity of $69.5 million.
Cautionary Statement Regarding Forward-Looking
Information
This press release contains forward-looking statements. These
forward-looking statements reflect Coastal’s current views with
respect to, among other things, the commencement and completion of
the initial public offering of its common stock. Any statements
about Coastal’s expectations, beliefs, plans, predictions,
forecasts, objectives, assumptions or future events or performance
are not historical facts and may be forward-looking. These
statements are often, but not always, made through the use of words
or phrases such as “anticipate,” “believes,” “can,” “could,” “may,”
“predicts,” “potential,” “should,” “will,” “estimate,” “plans,”
“projects,” “continuing,” “ongoing,” “expects,” “intends” and
similar words or phrases. Coastal cautions that the forward-looking
statements in this press release are based largely on Coastal’s
expectations and are subject to a number of known and unknown risks
and uncertainties that are subject to change based on factors which
are, in many instances, beyond Coastal’s control. Actual results,
performance or achievements could differ materially from those
contemplated, expressed, or implied by the forward-looking
statements. Any forward-looking statements presented herein are
made only as of the date of this press release, and Coastal does
not undertake any obligation to update or revise any
forward-looking statements to reflect changes in assumptions, new
information, the occurrence of unanticipated events, or otherwise,
except as required by law.
Contact
Eric Sprink, President & Chief Executive Officer, (425) 357-3659
Joel Edwards, Executive Vice President & Chief Financial Officer, (425) 357-3687
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