Greensboro, NC November 5, 2007 Premier Commercial Bank (proposed), which would be the Triad’s only commercial bank focused exclusively on serving small-to-midsized businesses, today announced that James L. Einstein and Paul Fulton, Jr., both of Winston-Salem, have joined its organizing group.
“Jim Einstein and Paul Fulton are great leaders and business professionals with reputations for getting results,” said Frank Gavigan, proposed President and CEO of Premier Commercial Bank (proposed). “Their considerable experience in business management, community involvement and extensive networks in the Triad make both men stellar additions to our group.”
Jim Einstein is Executive Vice President and general manager of the Alliance Division of Rock-Tenn Company. He began his career as a salesman for Southern Corrugated Box Company (later Chesapeake Display and Packaging Company). He served as President of Chesapeake Display and Packaging Company and later started Alliance Display and Packaging Company. Einstein was President and CEO of Alliance until it was sold to Rock-Tenn Company in 1995.
“It is with great pleasure that I join the organizing board of Premier Commercial Bank (proposed),” said Einstein. “I have conducted business in the Triad for nearly 40 years and I believe our region’s current growth trend is among the most significant and promising in recent history. Premier is poised to serve this market and capitalize on its great potential in a way that larger, more diversified banks are not able to do.”
Paul Fulton is Chairman of Bassett Furniture Industries, Inc. He has served as President of Hanes Corporation and Sara Lee Corporation and as the Dean of UNC-CH's Kenan-Flagler Business School. He has served on the Boards of Bank of America and Lowes Companies Inc. Fulton serves on the Board of Trustees for both UNC-CH and the Kenan-Flagler Business School.
“Premier Commercial Bank (proposed) has come along at an ideal time,” said Fulton. “There is a real need for a business-focused team of experts to meet the specific banking requirements of the Triad’s growing number of small-to-midsized companies. I look forward to helping to build an institution that holds such great promise for the business community.”
Premier Commercial Bank (proposed) is currently undergoing its initial sale of stock, with a goal of raising a minimum of $17.6 million. An offering circular detailing the investment opportunity is available to prospective investors by request. Please contact the organizing office at 336-323-1115, or visit the website at www.pcbnc.com.
About Premier Commercial Bank (proposed)
The organizers of Premier Commercial Bank (proposed) believe that it will be the first business bank headquartered in North Carolina’s Piedmont Triad focused exclusively on meeting the needs of small and medium-sized businesses. It is anticipated that the bank will offer an extensive line of commercial products and services to target customers in operating companies and in the real estate, medical, legal, financial and technical fields. It is intended that personal banking services will also be available to consumers.
This release does not constitute an offer to sell, or the solicitation of an offer to buy, shares of stock of Premier Commercial Bank (proposed). Any offer or solicitation is made only by means of the proposed bank’s offering circular. There shall be no sale of stock in any state in which any offer, solicitation of an offer or sale would be unlawful. The proposed bank’s stock will not be insured by the FDIC or any governmental agency, is not bank guaranteed, and is subject to investment risk, including loss of principal.