Community 1st Bank (CFBN) of Auburn, Calif., shuffled its executive team on Thursday after re-appointing Robert C. Haydon, the bank president and chief executive officer, as board chairman.
The appointment marks Haydon's second stint as chair of the $211 million-asset bank. He is the founding chairman of the community bank, which opened in 2006. He stepped down in 2011 at the request of the board to serve as CEO and to manage the bank's recovery from the financial downturn.
James J. Kim will take replace Haydon as president and CEO. He joined Community 1st in 2007, and has held several executive positions at the bank, including executive vice president, chief operating officer and chief financial officer.
"I have achieved what I envisioned when I accepted the board's request to serve and lead the bank during a very difficult time," Haydon said in a May 22 press release. "Today, I am most satisfied to leave the day-to-day management knowing the bank is thriving and poised for continued success."
Community 1st incurred steep losses during the financial crisis, according to its website. The bank accepted $2.6 million in capital from the Troubled Asset Relief Program in 2009, and raised another $7.4 million from private investors in 2011.
As part of the reshuffling, the bank said that outgoing its chairman, Russell P. Baldo, will continue to serve on the board as a vice chairman. Also, the bank's current controller, Toni B. White, was promoted to senior vice president and interim chief financial officer.
Community 1st Bank operates three offices in the Sacramento metropolitan area.