Ex-CalFed Executive to Head VCNB Subsidiary
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Ventura County National Bancorp, parent of Ventura County National Bank, has hired a former executive of California Federal Bank to head its Frontier Bank subsidiary. The holding company now hopes to expand Frontier, which earlier this year was slated to be sold.
Kathleen L. Kellogg, former senior vice president for business banking at Los Angeles Angeles-based CalFed, has been named president and chief executive of Frontier. The bank’s main office is in La Palma in Orange County. It has a branch in Wilmington.
Plans to sell Frontier have been dropped in favor of a forthcoming $5-million rights offering, said Nancy Jackson, senior vice president for administration of VCNBancorp based in Oxnard. The holding company is seeking to increase the Ventura County bank’s capital position to satisfy federal regulators.
“We expect Frontier to expand under Kathleen’s leadership,” Jackson said. “She has a strong background in commercial banking and lending.”
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