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Article: Vineyard Bank Could See Board Showdown

Article from:
Orange County Business Journal
Article date:
March 3, 2008
Author:
Copyright

FINANCE: At stake is Corona bank's possible relocation to OC

The ousted chief executive of Corona's Vineyard National Bancorp is looking to mount a proxy battle in a bid to get his job back and possibly bring the bank's headquarters to Orange County.

Norman Morales, who left as Vineyard's chief executive in January but remains its largest individual shareholder, has made a Securities and Exchange Commission filing as part of a bid to nominate a slate of directors to the bank's seven-member board.

Regulators still need to sign off on a solicitation that would go out to shareholders seeking their support for nominating a slate of directors. The move could give Morales more say in the ...

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