Press Release

Solera National Bancorp and Solera National Bank Appoints Former Assistant Vice President of the Tenth Federal Reserve District to its Board of Directors

Company Release - 12/12/2017 9:00 AM ET

LAKEWOOD, Colo., Dec. 12, 2017 (GLOBE NEWSWIRE) -- Solera National Bancorp, Inc. (OTC:SLRK), (the “Company”), the holding company for Solera National Bank, (the “Bank”), a business-focused bank primarily serving the Denver metropolitan area, today announced that it has expanded its board of directors to eight members and appointed Richard M. Thorne to serve on the Company’s and the Bank’s board effective immediately.

“Richie’s regulatory experience will add a valuable perspective to our Board of Directors,” said Michael Quagliano, Chairman of the Board. “We are honored that he considers our one-branch community bank exceptional enough for someone of his caliber, but we couldn’t agree more that he’s picked the best bank in the Denver Metro area to be a part of!” 

Mr. Thorne’s impressive career began serving as a bank examiner at the Federal Deposit Insurance Corporation and as a senior credit auditor at Norwest Bank. For the last 18 years, Mr. Thorne has worked for the Federal Reserve Bank of Kansas City in their Denver Branch where Mr. Thorne was the Assistant Vice President of Examinations and Inspections. Mr. Thorne was responsible for supervision and regulation of State Member Banks and Bank Holding Companies located in Colorado, Wyoming, and New Mexico. During his time at the Federal Reserve, Mr. Thorne developed a number of key initiatives including horizontal reviews of financial institutions with high concentrations in Commercial Real Estate lending. Mr. Thorne has a bachelor’s of science in business administration with a concentration in finance from Southwest Texas State University.

Mr. Martin P. May, the Bank’s CEO commented, “Richie’s extensive knowledge of banking regulation and specific insight in risk management will help Solera successfully navigate and prosper in this rapidly evolving banking environment. We are very honored that Richie has agreed to join the Solera team.”

About Solera National Bancorp, Inc.
Solera National Bancorp, Inc. was incorporated in 2006 to organize and serve as the holding company for Solera National Bank, which opened for business in September 2007. Solera National Bank is a community bank serving emerging businesses primarily in the Front Range of Colorado. At the core of Solera National Bank is welcoming, inclusive and respectful customer service, a focus on supporting a growing and diverse Colorado economy, and a passion to serve our community through service, education and volunteerism. For more information, please visit http://www.SoleraBank.com.

Contact: Martin P. May, President & CEO (303) 937-6422 or Melissa K. Larkin, EVP & CFO (303) 937-6423

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Source: Solera National Bank