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Two out at Bank of Santa Clarita

Hicken, Altobello were founding members

Posted: April 10, 2012 8:36 a.m.
Updated: April 10, 2012 8:36 a.m.

Two of the three founding members of the Bank of Santa Clarita are no longer with the local community bank that was launched in 2004.

In a statement issued Monday, the bank said "James D. Hicken's service as president and chief executive officer of the bank ended on April 6, 2012."

The bank's chairman of the board, Frank Di Tomaso, has assumed Hicken's duties on an interim basis.

"We, the board of directors, thank Jim for his long service in establishing the Bank of Santa Clarita as the leading independent bank in the Santa Clarita community, "Di Tomaso said. "We wish him the best of luck in
all his future endeavors."

Di Tomaso and Hicken could not be reached for comment.

Also gone from the bank's executive management team is founding member Kimberly Altobello, formerly the bank's executive vice president/chief administrative officer. Altobello's last day was Feb. 24, she said.

"I did not resign," Altobello said. "I was terminated without cause."

Based in Santa Clarita, Hicken and Altobello founded the Bank of Santa Clarita with Di Tomaso in 2004.

The bank's three founders once compared themselves and the bank they founded to director Frank Capra's fictional movie classic, "It's a Wonderful Life," in which community loan officer George Bailey, played by Jimmy Stewart, spends his life dedicated to the community he lived in.

Headquartered in Santa Clarita, the bank is an independent, full service commercial bank serving small to mid-sized businesses, retail consumers, professionals, entrepreneurs, and highnet worth individuals.

In its latest released results, the bank reported net earnings for the fourth quarter of 2011 totaling $223,000 as compared to $104,000 for the fourth quarter of 2010.

The bank also reported a $418,000 growth in pretax earnings, which totaled $380,000 for the fourth
quarter of 2011, as compared to a pre-tax loss of $38,000 for the fourth quarter of 2010.

Net earnings for the bank totaled $381,000 and $569,000 for the years ended Dec. 31, 2011 and 2010, respectively, while pre-tax earnings totaled $613,000 and $267,000, respectively, for those two years.

Hicken was still listed as the president and CEO on the bank's website Monday night.




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