CHULA VISTA, Calif., Feb. 14, 2014 /PRNewswire/ -- Vibra Bank, one of the only remaining locally-owned banks, announced that its Board of Directors has appointed Frank Mercardante as President and Chief Executive Officer effective February 17, 2014. Mr. Mercardante replaces Scott Parker, Vibra Bank's former CEO, who successfully led the bank from its inception until his recent resignation.

"We are very grateful for the strong foundation that Mr. Parker has built over the last 5 ½ years. We are confident that Mr. Mercardante, with his strong track record and 47 years of experience in the financial services field, will be able to use this solid base to take Vibra Bank to new horizons," said Enrique Schon, Vibra Bank's Chairman of the Board.

Mercardante said, "Scott has done an excellent job of leading the bank during its origination and initial growth period. I am looking forward to working with the excellent team of professionals he has assembled and leading the bank to the next level."

In looking for a new CEO, Vibra Bank's Board of Directors searched for a seasoned executive with a successful track record in growing banks, and experience in a broad range of financial services companies of different sizes. Over the last 47 years, Mr. Mercardante has worked for banks, credit unions, savings and loans, mortgage companies, title & escrow companies, trust companies and data servicing companies, ranging in size from startup to $6 billion dollars in assets. He was a founding director and CEO of Southwest Community Bank, which sold to Placer Sierra Bank in 2006, providing a 953% return to original shareholders. He went on to become Chairman and CEO of Placer Sierra Bank, which later sold to Wells Fargo Bank at 3.9 times tangible book value.

Vibra Bank, headquartered in Chula Vista, California, is a leading SBA lender in Southern California. Opened in 2008, Vibra Bank offers a full line of loan, deposits and investment products to San Diego business owners and professionals, as well as individuals and families on both sides of the international border. Vibra Bank's team focuses on providing outstanding customer service and building strong and long-­?lasting relationships. For more information, visit www.vibrabank.com

Vibra Bank
1-619-422-5300
Contact: Howard B. Levenson (Director) 1-619-548-0477
hlevenson@vibrabank.com

SOURCE Vibra Bank