LOS ANGELES, CA--(Marketwire - Jul 10, 2012) - ProAmérica Bank (OTCQB: PMRA) (PINKSHEETS: PMRA) announced today that L. Bruce Mills, Jr., was tapped Monday to be the next President and CEO of ProAmérica Bank, besting many candidates after an extensive 12-month search. In his new capacity, Mills is tasked with leading the Bank's day-to-day operations.
Before joining ProAmérica Bank, Mr. Mills established a solid reputation as an innovative leader. His 25-year banking career spans the roles of CFO to Director and CEO, from private banks to publicly-traded financial institutions. Mr. Mills has eagerly accepted the challenge of expanding ProAmérica Bank's market reach, overseeing its growth and profitability and building its financial strength.
Maria Contreras-Sweet, Executive Chairwoman, said, "Every member of the Board of Directors was fully engaged, conducting their due diligence throughout the search process. The multiple candidacies involved in the search enriched the Board discussion providing us an opportunity to revisit and reaffirm the value, role and special purpose of the Bank. The financial acumen and community bank experience Bruce brings will strengthen ProAmérica's ability to navigate the turbulent economy and will serve as an important asset in the Bank's consultative model particularly focused on entrepreneurs, nonprofits and professionals." Ms. Contreras-Sweet added, "The ProAmérica Bank business-facing model presents a significant opportunity to build value for our shareholders and the community." The Bank was founded by well-respected and successful entrepreneurial families who are committed to empowering small businesses and non-profits with the requisite financial solutions and capital infusion for their success. "Mr. Mills shares our commitment and dedication to helping entrepreneurs fulfill the Promise of America," Ms. Contreras-Sweet concluded.
Mills most recently served as President and COO of San Diego Private Bank in La Jolla, where he successfully improved asset quality, profitability and internal control systems. Prior, he served as President and CEO of Partners Bank of California, where he developed an innovative de novo bank, achieved pre-provision profitability within two and half years, and built a strong portfolio of loans and deposits.
"ProAmérica Bank has a stellar reputation as the pre-eminent Latino-formed business bank. I am excited to join an organization that plays such a vital role in providing capital to the greater Los Angeles business community and the vast underserved Latino market. It is an honor to be selected to help realize ProAmérica Bank's vital vision and mission, especially as businesses struggle to adapt and change in this sluggish economy," said Mills. "I look forward to integrating best practices with new ideas to deliver growth and expansion to ProAmérica Bank so we may best serve our clients."
Mr. Mills has been involved in his community for the span of his career. He has taken active roles in the Rotary Foundation, United Way and Boy Scouts of America. He holds a Bachelor's degree in Music and Quantitative Decision Analysis from the University of Redlands and a MBA-Finance degree from California State University San Bernardino. In his free time he enjoys his family and playing the trumpet.
About ProAmérica Bank
ProAmérica Bank provides a full range of financial services, including credit and deposit products, SBA loan products, cash management, and internet banking for businesses, professionals, nonprofits and high net worth individuals from its headquarters office at 888 West Sixth Street, Second Floor, Los Angeles, CA 90017-2728. Information on products and services may be obtained by calling (213) 613-5000 or visiting the Bank's website at www.PROAMERICABANK.com.