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Tuesday, Jul 23, 2024

Coronado 1st Bank Begins Organizing

Tom Stickel, a longtime San Diego financial executive, and Bruce Ives, former CEO of Cuyamaca Bank in Santee, head up a new community bank in Coronado that hopes to open for business in July.

Ives, who was out of work after Community National Bank acquired Cuyamaca in October, is the designated president and CEO, while Stickel is the chairman of the board.

The bank, tentatively called Coronado 1st Bank, would operate under a state charter, and received initial approval to begin organizing from the state’s Department of Financial Institutions. The Federal Deposit Insurance Corp. has yet to give its approval.

The bank group has already hired two key managers: CFO Paul Cable, former CFO of Cuyamaca Bank, and Chief Credit Officer Bob Ayers, former head of special assets for U.S. Bank’s California region.

In addition to Ives and Stickel, the board consists of Todd Anson, real estate attorney; Rudy Castruita, superintendent of the San Diego County Office of Education; Barbara DeMichele, business owner; Bill Huck, municipal bond trader; Kathy Koop, real estate agent; Larry Kurmel, former CEO of the California Bankers Association; Ed Martin, retired admiral; and Jerry Sanders, former chief of the San Diego Police Department, and former CEO of United Way of San Diego.

Ives, 40, was the CEO at Cuyamaca for five years, and has been a banker for 16 years. He began his career with First Interstate Bank.

Stickel, 55, is the former chairman of Onyx Acceptance Corp., a finance company providing auto loans to car dealers. The public company was acquired by Capital One Auto Finance Corp. in a deal that was announced in September for $191 million.

Stickel is also the former CEO of TCS Enterprises, Inc., financial services holding company based in San Diego that was involved in real estate development, publishing, insurance and lobbying.

An active contributor to the state’s Republican Party, Stickel was once considered for the state treasurer’s job during the 1980s when Gov. George Deukmejian held office. He is also the chairman of University Ventures Network, a venture capital firm, and sits on the board of Sempra Energy.

Mike Allen

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