DURHAM, N.C., May 10, 2016 (GLOBE NEWSWIRE) -- Square 1 Bank, a division of Pacific Western Bank, is pleased to announce the following leadership promotions:

• Art Wasson was promoted from senior vice president, global treasury management, to executive vice president, Venture Capital Services + Global Treasury Management Sales. Based in Durham, Wasson oversees treasury and treasury management services, deposit products and asset management, and the national venture capital services practice.
• Jason Kranack, former executive vice president, head of human resources, now serves as executive vice president, banking and operations. In this role, he oversees the delivery of Square 1's products and services and overall division operations.
• Ken Fugate, an original founder of Square 1, was promoted to managing director, Banking Central. In this role, he manages Square 1's technology banking and life sciences practices in Texas, the Midwest and Rocky Mountain region from the Denver office.
• Mara Huntington has assumed the role of managing director, Banking East. Here, she leads the technology and life sciences banking practices in markets along the East Coast, including Boston, New York, Washington, D.C., Durham and Atlanta. Mara previously served as managing director, life sciences.
• Ryan Dammeyer now serves as head of Structured Finance where Square 1 has their largest and most complex portfolio company relationships. Prior to this role, Ryan founded Square 1's Midwest technology and life sciences practices.
• David McLaughlin has been promoted to managing director of the Texas region. He brings to this role more than 15 years of experience providing high-growth companies in Austin and the surrounding region with venture banking solutions.

"Square 1 is proud of what these individuals have accomplished to date and we have every confidence that this team will take us to new heights as we continue providing outstanding solutions and service to entrepreneurs and their investors. We are excited to announce these promotions and look forward to their continued leadership," said President Frank Tower.

About Square 1 Bank
Square 1 Bank is a division of Pacific Western Bank, a Los Angeles-based commercial bank with over $21 billion in assets. A full service financial services partner to entrepreneurs and their investors, Square 1 provides clients flexible resources and attentive service to help their companies grow. Square 1 offers a broad range of venture debt, treasury and cash management solutions through offices in top innovation centers: Atlanta, Austin, the Bay Area, Boston, Chicago, Denver, Durham, Los Angeles, Minneapolis, New York, San Diego, Seattle and Washington, DC. Pacific Western Bank is a wholly-owned subsidiary of PacWest Bancorp (NASDAQ: PACW).  For more information, visit www.square1bank.com.