Heritage Oaks Bank Announces Termination of Regulatory Order Regarding BSA Matters
29 Novembro 2016 - 8:59PM
Heritage Oaks Bank, the wholly owned subsidiary of Heritage Oaks
Bancorp, (Nasdaq:HEOP), today announced the termination of
its Consent Order issued by the Federal Deposit Insurance
Corporation (FDIC) and the California Department of Business
Oversight (DBO) requiring improvements to the bank’s Bank Secrecy
Act/Anti-Money Laundering (BSA/AML) program.
“Heritage Oaks Bank has made comprehensive changes
to its BSA compliance program. We have enhanced our
technology processes, training and personnel to improve our BSA
Program and we are pleased that we have satisfied the legal and
regulatory requirements of the Order,” said Simone Lagomarsino,
President and Chief Executive Officer.
About Heritage Oaks Bancorp and Heritage
Oaks Bank
With $2.0 billion in assets, Heritage Oaks Bancorp
is headquartered in Paso Robles, California and is the holding
company for Heritage Oaks Bank. Heritage Oaks Bank operates
two branch offices each in Paso Robles and San Luis Obispo; single
branch offices in Atascadero, Templeton, Cambria, Morro Bay, Arroyo
Grande, Santa Maria, Goleta and Santa Barbara; as well as a single
loan production office in Ventura/Oxnard. Heritage Oaks Bank
conducts commercial banking business in San Luis Obispo, Santa
Barbara, and Ventura counties. Visit Heritage Oaks Bank on the Web
at www.heritageoaksbank.com. By including the foregoing website
address, Heritage Oaks Bancorp does not intend to, and shall not be
deemed to incorporate by reference any material contained
therein.
The Heritage Oaks Bancorp logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=7045
Forward Looking Statements
Certain statements in this press release,
including, without limitation, statements containing the words
“believes”, “anticipates”, “intends”, “expects”, and words of
similar impact, constitute “forward looking statements” within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934. Such forward-looking
statements involve known and unknown risks, uncertainties and other
factors that may cause the actual results, performance or
achievements of the Company to be materially different from any
future results, performance or achievements expressed or implied by
such forward-looking statements. Such factors include renewed
softness in the overall economy, including the California real
estate market; the effect of the current low interest rate
environment or changes in interest rates on our net interest
margin; changes in the Company’s business strategy or development
plans; our ability to attract and retain qualified employees;
a failure or breach of our operational security systems or
infrastructure or those of our customers, our third party vendors
or other service providers, including as a result of a
cyber-attack; any compromise in the secured transmission of
personal, financial and/or confidential information over public
networks; environmental conditions, including the prolonged drought
in California, natural disasters such as earthquakes, landslides,
and wildfires that may disrupt business, impede operations, or
negatively impact the ability of certain borrowers to repay their
loans and/or the values of collateral securing loans; and the
possibility of an unfavorable ruling in a legal matter, and the
potential impact that it may have on earnings, reputation, or the
Bank’s operations.
Simone Lagomarsino, President and CEO
Jason Castle, Executive Vice President and Chief Financial Officer
805-369-5200
Heritage Oaks Bancorp (NASDAQ:HEOP)
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