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Solera National Bancorp, Inc. (OTCQB: SLRK), the holding company for Solera National Bank, today announced that Lindsay Sandham has joined its executive management team as Senior Vice President and Chief Credit Officer. Sandham will be replacing Larry Heesch who will be retiring at the end of the month.
“As we wish Larry a long and happy retirement, we are excited to welcome Lindsay to our executive team,” said Douglas Crichfield, President and Chief Executive Officer. “Lindsay’s valuable perspective on credit analysis and risk management developed over the course of 22 years in the banking industry makes him a strong fit for Solera National Bank.”
Among his many credentials, Mr. Sandham is past President of the local chapter of the Risk Management Association, a widely recognized and long-time national professional trade organization for bank credit officers. A veteran of the banking industry, he has extensive experience across a broad range of risk management and lending activities with some very notable financial institutions including Canadian Imperial Bank of Commerce and Royal Bank of Canada. In his most recent position as Senior Vice President and Chief Credit Officer of Native American Bank, Sandham created and administered the bank’s loan policies and procedures while overseeing the bank’s credit risk and exposure. Prior to joining Native American, Mr. Sandham was Chief Credit Officer at Federal Trust Bank, and held senior level positions at Seacoast National Bank and SunTrust Bank.
“Throughout my career, I have worked at a wide variety of banks and I understand the importance of establishing internal loan controls and managing a bank’s loan portfolio,” said Mr. Sandham. “I see that commitment to risk management and solid asset quality at Solera National Bank, and I’m excited to be joining such an innovative company and seasoned leadership team.”
Solera’s total assets were $154.7 million at September 30, 2012. Solera recently reported net income of $168,000, or $0.07 per share, in the first nine months of 2012, compared to $76,000, or $0.03 per share in the like period a year ago. In the second quarter of 2012, Solera National Bank was recognized as the “Diversity Corporation of the Year” by ColoradoBiz magazine, for their focus and service to the diverse business community in Denver.