On June 22, 2022, REDWOOD CAPITAL BANCORP (OTCQB:RWCB) announced that as of June 13, 2022, John E. Dalby, has returned as President and CEO of Redwood Capital Bancorp and its subsidiary, Redwood Capital Bank, following a temporary medical leave of absence.

Mr. Dalby, stated, “I would like to take this opportunity to express my sincere gratitude to the Board of Directors and the entire Redwood Capital Bank team. While there are many people to thank, I would like to acknowledge Jennifer Budwig for her leadership as Acting CEO during my leave. Jennifer never wavered in her commitment to the company, our customers, shareholders and staff. She excelled in both her roles as Acting CEO and Chief Lending Officer. In addition, I would like to recognize Redwood Capital Bank’s executive team, including, Renee Byers, SVP/Chief Financial Officer, Tammy Brown, SVP/Chief Credit Officer, Michael McCoy, SVP/Risk Manager and Dave Tierney, SVP/IT Director for their abilities to continue to implement the companies’ mission and strategy. Finally, thank you to VP/Executive Assistant, Cindy Conn for her dedication and in-depth knowledge during this challenging time. I could not be happier to be home and back to work with this fantastic group of people in this amazing community.”

John Gierek, Jr., Board Chairman added, “The Board of Directors is excited to have the entire management team back together. During Mr. Dalby’s absence, Jennifer Budwig as Acting CEO, led the management team - maintaining the top-notch service our customers have come to expect, as well as continuing our premiere financial performance.”

Redwood Capital Bank was founded in 2004 with the support of more than 600 local shareholders. The company launched with 16 founding employees at one branch, located in downtown, Eureka. Over the past 18 years, Redwood Capital Bank has grown to nearly 80 employees at four, full-service branches in Eureka, Fortuna, Arcata and Henderson Center.

For more information regarding Redwood Capital Bancorp, please visit our website at www.redwoodcapitalbank.com, contact John E. Dalby, President and CEO, at (707) 444-9833, or stop by our headquarters and main office at 402 “G” Street, Eureka, California 95501. Redwood Capital Bancorp (OTCQB:RWCB) trades on the OTCQB Venture Market for early stage and developing U.S. and international companies. Companies are current in their reporting and undergo an annual verification and management certification process. Investors can find Real-Time quotes and market information for the company on www.otcmarkets.com.

This press release may contain forward-looking statements that are subject to risks and uncertainties. Such risks and uncertainties may include but are not necessarily limited to fluctuations in interest rates, inflation, government regulations and general economic conditions, and competition within the business areas in which the Bank is conducting its operations, including the real estate market in California and other factors beyond the Bank’s control. Such risks and uncertainties could cause results for subsequent interim periods or for the entire year to differ materially from those indicated. Readers should not place undue reliance on the forward-looking statements, which reflect management’s view only as of the date hereof. The Bank undertakes no obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances.

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