United Western Bancorp, Inc. (NASDAQ: UWBK) (the "Company”), announced
that William D. Snider has retired from the Company as chief financial
officer and from all other day-to-day roles with the Company and its
subsidiaries. Mr. Snider will continue to serve as a director of the
Company. Mr. Snider has been with the Company, as both a director and
chief financial officer, since December 2005. Mr. Snider’s retirement
was effective April 15, 2010.
Guy A. Gibson, the Company’s Chairman of the Board, expressed his thanks
for Mr. Snider’s service over the past four years saying, "We appreciate
the personal commitment Bill made to the Company and wish both him and
his wife, Lisa, all the best as they enjoy retirement.”
The Company is considering both internal and external candidates to
replace Mr. Snider in the future. In the interim, the functions formerly
performed by Mr. Snider will be shared between Benjamin C. Hirsh, the
Company’s Chief Accounting Officer, and Charles Caswell, Chief Financial
Officer to the Company’s principal subsidiary, United Western Bank.
About United Western Bancorp, Inc.
Denver-based United Western Bancorp, Inc. is focused on developing its
community-based banking network through its subsidiary, United Western
Bank®, by strategically positioning branches across Colorado’s Front
Range market and certain mountain communities. This area spans the
eastern slope of the Rocky Mountains – from Pueblo to Fort Collins, and
from metropolitan Denver to the Roaring Fork Valley. United Western Bank
plans to grow its network to an estimated ten to twelve community bank
locations over the next three to five years. In addition to
community-based banking, United Western Bancorp, Inc. and its
subsidiaries offer deposit services to institutional customers and
custodial, administrative, and escrow services through its wholly owned
subsidiary, UW Trust Company. For more information, please visit our
website at www.uwbancorp.com.
Forward-Looking Statements
This press release contains certain statements that may be deemed to
be "forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995 that are subject to significant
risks and uncertainties.
Forward-looking statements include
information concerning Mr. Snider’s continued advice as a director of
the Company. These statements often include terminology such as "may,”
"will,” "expect,” "anticipate,” "predict,” "believe,” "plan,”
"estimate,” "continue,” "could,” "should,” "would,” "intend,”
"projects,” or the negative thereof or other variations thereon or
comparable terminology and similar expressions.
As you consider
forward-looking statements, you should understand that these statements
are not guarantees of performance or results.
They involve risks,
uncertainties and assumptions that could cause actual results to differ
materially from those in the forward-looking statements.
These
factors include, but are not limited to: the successful implementation
of our community banking strategies; the ability to secure, timing of,
and any conditions imposed thereon of any, regulatory approvals or
consents for new branches or other contemplated actions; the
availability of suitable and desirable locations for additional
branches; the continuing strength of our existing business, which may be
affected by various factors, including but not limited to interest rate
fluctuations, level of delinquencies, defaults and prepayments,
increased competitive challenges, and expanding product and pricing
pressures among financial institutions; changes in financial market
conditions, either internationally, nationally or locally in areas in
which we conduct our operations, including without limitation, reduced
rates of business formation and growth, commercial and residential real
estate development, real estate prices and other recent problems in the
commercial and residential real estate markets; demand for loan products
and financial services; unprecedented fluctuations in markets for
equity, fixed-income, commercial paper and other securities, including
availability, market liquidity levels, and pricing; increases in the
levels of losses, customer bankruptcies, claims and assessments; the
extreme levels of volatility and limited credit currently being
experienced in the financial markets; changes in political and economic
conditions, including the economic effects of terrorist attacks against
the United States and related events; legal and regulatory developments,
such as changes in fiscal, monetary, regulatory, trade and tax policies
and laws, including policies of the U.S. Department of Treasury and the
Federal Reserve Board; our participation, or lack thereof, in
governmental programs implemented under the Emergency Economic
Stabilization Act (the "EESA”), including without limitation the
Troubled Asset Relief Program ("TARP”), and the Capital Purchase Program
(the "CPP”), and the impact of such programs and related regulations on
our business and on international, national, and local economic and
financial markets and conditions.
Additional information concerning these and other factors that may
cause actual results to differ materially from those anticipated in
forward-looking statements is contained in the "Risk Factors” section
included in the Company's Annual Report on Form 10-K filed March 15,
2010, and in the Company’s other periodic reports and filings with the
Commission. The Company cautions investors not to place undue reliance
on the forward-looking statements contained in this press release.
Any forward-looking statements made by the Company speak only as of
the date on which the statements are made and are based on information
known to us at that time. The Company does not intend to update or
revise the forward-looking statements made in this press release after
the date on which they are made to reflect subsequent events or
circumstances, except as required by law.
