Manhattan Bancorp and Bank of Manhattan Announce Appointment of Gary C. Wallace to Boards of Directors
Manhattan Bancorp (OTCBB: MNHN) and subsidiary Bank of Manhattan announced today that its Boards of Directors have appointed Gary C. Wallace to serve as a Director and Chair of the Audit Committee for both entities.
Mr. Wallace retired as a KPMG Audit Partner Specialist in Banking and Investment Services in 2005, having served as head of the Northern California Financial Institutions Practice. He served as a director and member of the Audit Committee of North Bay Bancorp and subsidiary The Vintage Bank from 2006 thru April 2007, when the Company was sold. Since 2008, Mr. Wallace has provided consulting services to various Banks, Private Equity Firms, Venture Capital Firms and the Public Company Accounting Oversight Board.
“Gary brings us valued expertise and vast experience in commercial banking, mortgage banking and corporate governance; we are very pleased to have him on our team,” stated Grant Couch, Chairman of the Boards. Chief Executive Officer Terry L. Robinson added, “We could not have recruited a more qualified person to head our Audit Committee; our directors and senior managers are all looking forward to working with Gary.”
About Manhattan Bancorp/Bank of Manhattan
Manhattan Bancorp is a bank holding company with approximately $450 million in assets. Its principal subsidiary, Bank of Manhattan, N.A., is a full service bank headquartered in the South Bay area of Los Angeles, California. Founded in 2007, Bank of Manhattan specializes in delivering relationship banking services and residential mortgages to entrepreneurs, family-owned and closely-held middle market businesses, real estate investors and professional service firms. The Bank has six full-service banking offices in El Segundo, Manhattan Beach, Pasadena, Glendale and Montebello as well as six mortgage loan production offices in Southern California. Through its wholly-owned subsidiary, MBFS Holdings, Inc., Manhattan Bancorp also indirectly owns a 70% interest in Manhattan Capital Markets LLC, which, either directly or through its wholly-owned subsidiaries, generates revenues from trading income, facilitating trades in whole loans and mortgage-backed securities between institutional clients and providing advisory services to institutions regarding the evaluation and packaging of mortgage-related portfolios. For more information about Manhattan Bancorp, please visit www.thebankofmanhattan.com.
Terry L. Robinson, Chief Executive Officer