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Irvine Bank CEO and CFO to Retire

Irvine-based Pacific Enterprise Bank said Chief Executive Rick Ganulin will retire at the end of the year.

President Brian Halle will take on the additional role of CEO, the bank said.

Ganulin, who is expected to remain as chairman of the board, has worked in the banking sector for 45 years, starting at Security Pacific Bank in 1969. He founded three community banks in Southern California, including Liberty National Bank, which was sold in 1996, and Pacific Liberty Bank, which sold in 2005. He then started Pacific Enterprise and has grown it to about $349 million in assets.

The bank had about $268 million in net loans and $291 million in deposit as of Sept. 30.

It had about $14 million in net interest income and $3 million in noninterest income in the most recent quarter, with $4.2 million in profit.

Pacific Enterprise said Chief Financial Officer Jo Anne Painter also plans to retire at the end of the year.

Painter, a banking industry veteran of 28 years, is expected to remain as a consultant with Pacific Enterprise.

The bank has tapped Allen Nicholson, former chief financial officer of 1st Enterprise Bank in Los Angeles to succeed Painter.

1st Enterprise recently completed a sale to California United Bank, also in Los Angeles, for about $112 million.

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