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CRB Auto Names Bill Katafias Chief Executive Officer ("CEO")

Press Release
Monday, May 8, 2017

IRVINE, CA - May 8, 2017—CRB Auto, a division of Mechanics Bank (OTC: MCHB), announced today that auto finance veteran Bill Katafias has joined the organization as its Chief Executive Officer (“CEO”).  Mr. Katafias most recently was the Executive Vice President, National Production Manager and leading retail credit executive for Wells Fargo Dealer Services. He succeeds CRB Auto Chief Executive Scott Raymer who previously announced his resignation to pursue other opportunities.

Mr. Katafias began his career in auto finance with Ford Motor Credit in 1988. He joins CRB Auto after 23 years with the Wells Fargo auto finance group, where he managed all aspects of their business including retail production, oversight of national and regional dealer partners, centralized direct lending operations, and the decentralized regional business center model of Indirect Auto (including sales, credit, loan origination, high risk collections and operational risk management).

"We are extremely fortunate that Bill was available, and that we are able to add someone of his caliber to our leadership team to continue the future growth of our successful auto finance group” Mechanics Bank President and CEO John DeCero said.  “His extensive experience and proven track record are a great fit, and it demonstrates our continued commitment to our dealer network, our customers and our employees in the indirect auto space.”

Mr. Katafias will join with long-time CRB Auto Executive Vice President and Chief Operating Officer Jim Ponzo in setting and driving the group’s strategic initiatives and future expansion plans.

About CRB Auto

CRB Auto is a relationship based, indirect auto lender, which focuses on origination and servicing of new and pre-owned retail automobile sales contracts from both franchised and independent automobile dealerships throughout 15 states - Arizona, California, Colorado, Florida, Idaho, Illinois, Iowa, Kansas, Missouri, Nevada, Oklahoma, Oregon, Texas, Utah and Washington. CRB Auto is a division of Mechanics Bank, a full-service community bank with more than $5.4 billion in assets.  Member FDIC and Equal Housing Lender.

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