Commercial Capital Bancorp, Inc. Announces That Subsidiary, TIMCOR Exchange Corporation, Opens Richmond, Virginia Regional Offic
10 February 2006 - 1:00AM
Business Wire
Commercial Capital Bancorp, Inc. (the "Company") (NASDAQ:CCBI)
announced today that TIMCOR Exchange Corporation ("TIMCOR"), one of
the Company's 1031 exchange accommodator subsidiaries, has extended
its national presence by entering the Virginia market with a
regional office in Richmond and by the hiring of Ann S. Cottrell as
Regional Sales Manager for Virginia and the surrounding markets.
Prior to joining TIMCOR and dating back ten years, Ms. Cottrell
held related positions with LandAmerica Lawyers Title and other
real estate finance and services firms, bringing a great deal of
knowledge and experience with her. Ms. Cottrell, who is a native of
Richmond, VA, is a graduate of Virginia Commonwealth University and
holds a Bachelor of Science in Chemistry. Ms. Cottrell can be
contacted by phone at (888) 414-1031. Additionally, the Company
announced that TIMCOR has named Derek V. Longshore as Director of
Marketing and Business Development. In this role, Mr. Longshore
will develop and implement new marketing, public relations and
business development strategies for TIMCOR to help facilitate its
national expansion. Prior to joining TIMCOR, Mr. Longshore served
as Manager of National Marketing and Public Relations for Aramark
Corporation, where he was responsible for the marketing and public
relations activities in 25 major U.S. markets. Prior to joining
Aramark, Mr. Longshore served as Director of Marketing for Tenet
Healthcare Corporation. Mr. Longshore holds a Bachelor of Arts in
Communications from New York University. He will be located at
TIMCOR's headquarters in Los Angeles, California. TIMCOR is a
"qualified intermediary," which facilitates tax-deferred exchanges
pursuant to Section 1031 of the Internal Revenue Code. TIMCOR
facilitates 1031 exchanges nationwide through its headquarters in
Los Angeles, California, and offices in Chicago, Illinois; Houston,
Texas; Richmond, Virginia; and Miami, Florida. Commercial Capital
Bancorp, Inc. is a diversified financial services company with
$5.46 billion of total assets at December 31, 2005. The Company
provides depository and lending products and services under the
Commercial Capital Bank brand name, and provides 1031 exchange
services to income property investors nationwide under the TIMCOR
Exchange Corporation and North American Exchange Company brand
names. This press release may include forward-looking statements
related to the Company's plans, beliefs and goals, which involve
certain risks, and uncertainties that could cause actual results to
differ materially from those in the forward-looking statements.
Such risks and uncertainties include, but are not limited to, the
following factors: competitive pressure in the banking industry;
changes in the interest rate environment; the health of the
economy, either nationally or regionally; the deterioration of
credit quality, which would cause an increase in the provision for
possible loan and lease losses; changes in the regulatory
environment; changes in business conditions, particularly in
California real estate; volatility of rate sensitive deposits;
asset/liability matching risks and liquidity risks; and changes in
the securities markets. The Company undertakes no obligation to
revise or publicly release any revision to these forward-looking
statements.
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