BELLINGHAM, Wash., Sept. 3, 2009 (GLOBE NEWSWIRE) -- Horizon Financial Corp. (Nasdaq:HRZB) ("Horizon"), the bank holding company for Horizon Bank, announced today that Robert A. Pingle has joined the Bank as Chief Operating Officer.
"We are delighted and privileged to have Bob join our executive team. With over 40 years in banking, Bob brings a wealth of experience and a proven track record of success," said Rich Jacobson, President and Chief Executive Officer. "His experience in management and bank operations will provide additional capabilities in our ongoing efforts to provide an appropriate product mix and superior service to our customers."
Formerly with Town Center Bank in Portland, Oregon, Pingle spent 10 years as Executive Vice President and Chief Operating Officer, where his responsibilities were diverse and included all facets of bank operations. Pingle was previously with Pacific One Bank, and served as their Senior Vice President and Chief Operations Officer overseeing the bank operations, including the centralized support departments. He also held several progressively responsible positions with West One Bank and was their Senior Vice President/ Operations Administration. Pingle began his banking career as Vice President and Cashier at Mount Hood Security Bank at Gresham, Oregon.
Graduating from Phoenix College, Arizona, Pingle earned an Associates of Arts Degree in Business. He also attended the School of Bank Administration at the University of Wisconsin, and Western Compliance School at the University of Nevada to further his banking career.
Recently Announced News
Horizon Financial Corp will be presenting at the Rodman & Renshaw Annual Global Investment Conference in New York City on Thursday afternoon, September 10, 2009. Rich Jacobson, President and Chief Executive Officer, and Greg Spear, Chief Financial Officer, will be the presenters. The presentation will be webcast and interested investors may view the presentation at www.horizonbank.com. The Rodman & Renshaw Annual Global Investment Conference will be held at the New York Palace Hotel September 9th-11th. For more information on the conference, please visit: http://www.rodm.com/conferences.
About Horizon Financial Corp.
Horizon Financial Corp. is a $1.36 billion, bank holding company headquartered in Bellingham, Washington. Its primary subsidiary, Horizon Bank, maintains a regional banking presence that has been serving customers for 87 years, and operates 18 full-service offices, four commercial loan centers and four real estate loan centers throughout Whatcom, Skagit, Snohomish and Pierce counties in Washington.
Safe Harbor Statement: Except for the historical information in this news release, the matters described herein are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and are subject to risks and uncertainties that could cause actual results to differ materially. Such risks and uncertainties include: the credit risks of lending activities, including changes in the level and trend of loan delinquencies and write-offs, results of examinations by our banking regulators and our ability to comply with the regulatory agreement with our regulators, our ability to increase our capital and manage our liquidity, our ability to manage loan delinquency rates, the ability to successfully expand existing relationships, deposit pricing and the ability to gather low-cost deposits, success in new markets and expansion plans, expense management and the efficiency ratio, expanding or maintaining the net interest margin, interest rate risk, the local and national economic environment, and other risks and uncertainties discussed from time to time in Horizon's filings with the Securities and Exchange Commission ("SEC"). Accordingly, undue reliance should not be placed on forward-looking statements. These forward-looking statements speak only as of the date of this release. Horizon undertakes no obligation to update publicly any forward-looking statements to reflect new information, events or circumstances after the date of this release or to reflect the occurrence of unanticipated events. Investors are encouraged to read the SEC report of Horizon, particularly its Form 10-K for the fiscal year ended March 31, 2009, and its Form 10-Q for the quarter ended June 30, 2009, for meaningful cautionary language discussion why actual results may vary from those anticipated by management.