Golden Pacific Bancorp, Inc. announced that Frank Washington, a founding director and chairman of the bank, has stepped down as chairman (but will remain a director), and that Richard Claussen and David Roche have been elected new directors, of which Mr. Claussen was elected interim bank chairman. Mr. Claussen was previously a founding director of the bank. Mr. Roche serves on the board as a representative of Gapstow Capital Partners, a major investor in the bank.