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Heritage Oaks Bancorp Announces Resignation of CFO

The Business First parent company also promotes two executive managers

Heritage Oaks Bancorp, a holding company that operates as Heritage Oaks Bank and Business First, announced Thursday that Executive Vice President and Chief Financial Officer Margaret Torres has resigned, and that William Filippin has been promoted to executive vice president/chief credit officer and Ronald Oliveira to president/chief operating officer.

Lawrence Ward will continue to serve as chief executive officer of the bank and as president/chief executive officer of the company.

Before his promotion, Filippin served the bank as senior vice president/commercial lending manager since joining the bank in April 2009. Before that, Filippin served as chief credit officer for American Principle Bank.

Oliveira had been serving as executive vice president, chief credit officer and chief operating officer since he joined the bank in July 2009. Before that, Oliveira served as senior vice president at Rabobank since December 2008, assisting with the expansion of both its deposit and lending presence in the midstate region of California.

“I am excited to announce these enhancements to our executive management team,” Ward said. “I have worked closely with Ron and Bill over the last 12 months in a very difficult economic environment. Their expertise has helped to stabilize the bank’s asset quality, and I look forward to working with them as we go forward in these challenging times.”

Torres tendered her resignation to be effective Aug. 31. The company has instituted a search for an appropriate replacement, who will be subject to prior regulatory approval or nonobjection.

“It has been my great pleasure to work side by side with Margaret for the last 11 years,” Ward said. “She has been a wonderful asset to the bank, and we will all miss her. We wish her all the best in her future endeavors.”

— Genesis Newsom is a marketing assistant Heritage Oaks Bank.

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