GlobeNewswire Inc | Aug 11, 2020 03:45PM EDT

August 11, 2020

SALINAS, Calif., Aug. 11, 2020 (GLOBE NEWSWIRE) -- 1st Capital Bank (OTC Pink: FISB) today announced the appointment of Jigisha Desai as a director. Desai is the chief financial officer of Watsonville-based Granite Construction, Incorporated (NYSE: GVA), a nationwide heavy civil construction and transportation contractor.

We are delighted to have Jigisha join our board, said Kurt Gollnick, chairman. She brings a wealth of business and financial experience and a diverse perspective to our board. Her experience with a leading construction and materials firm provides deep insights into the needs of our commercial customers and will be invaluable as we formulate our strategic goals and build the scale of our organization. Desai will serve on the Banks Investment and Asset/Liability Management Committee.

Desai joined Granite Construction in 1993, and leads all accounting, tax, internal audit, investor relations, information technology, corporate finance, and treasury functions. She oversees capital allocation, capital structure, equity and debt management, and enterprise risk management. She is responsible for corporate development focusing on the companys strategic plan through mergers and acquisitions. In addition, Desai has been instrumental in building Granites long-term relationships with a diversified group of lenders, sureties, insurance markets and financial advisors.

Desai serves as a member of the board of the American Road and Transportation Building Association (ARTBA), is a member of the Association of Financial Professionals, and is a Certified Treasury Professional.

About 1st Capital Bank

1st Capital Banks markets are commercial enterprises, professionals, real estate investors, family business entities and residents along the Central Coast region of California. The bank provides a wide range of credit products, including loans under various government programs such as those provided through the U.S. Small Business Administration (SBA) and the U.S. Department of Agriculture (USDA). A full suite of deposit accounts is also furnished, complemented by robust cash management services. The bank operates full-service banking offices in Monterey, Salinas, King City, San Luis Obispo, and Santa Cruz. The Banks corporate offices are located at 150 Main Street, Suite 150, Salinas, Calif. 93901.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8d936d2c-6aa9-4114-b264-bff1910e32a1

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