Pacific State Bancorp said Tuesday that Steven A. Rosso has resigned as its chief executive officer and the president of its Pacific State Bank.
The $428 million-asset Stockton, Calif., company said Mr. Rosso resigned Dec. 27 for "personal reasons" and will consult for the company for 12 months. Pacific State Bancorp named Rick Simas the bank's interim president and said it has yet to name a new CEO for the company. Mr. Simas has been a senior vice president, branch manager, regional manager, and senior credit administrator for the bank. In the third quarter Pacific State Bancorp lost $1.2 million, mostly from writedowns of Fannie Mae and Freddie Mac preferred shares.