Solera National Bancorp in Lakewood, Colo., has ended a months-long search for a new leader.
John Carmichael has been named president and chief executive of the $170 million-asset company, according to a press release Monday. He has 28 years of commercial banking experience in Colorado.
Carmichael replaces interim president and CEO Ray Nash, who will remain on Solera's board of directors. Nash assumed his temporary role at the end of July after Douglas Crichfield, 61, retired.
"We are delighted to welcome [Carmichael] to Solera. He is the right choice at this stage of Solera's development as we position ourselves for future success," Chairman Ronald Montoya said in the release. "He is a strong leader with a demonstrated track record of profitably growing institutions and thereby increasing shareholder value."
Solera, which opened in 2007 with a focus on serving Colorado's Hispanic market, has been revving up for growth in recent months. It agreed to buy $12 million of deposits from Liberty Savings Bank at an undisclosed price in February and launched a mortgage banking division at the end of 2012. The company also recently announced plans to open full-service branches in Boulder and Denver's Cherry Creek neighborhood, according to the release.