Jun. 4, 2024– PBCO Financial Corporation (OTCPK: “PBCO”), the holding company (Company) of People’s Bank of Commerce (Bank), today reported that Steve Erb has accepted the role of Chief Operating Officer, effective June 14, 2024. Joan Reukauf, the current Chief Operating Officer, is leaving to pursue a new opportunity related to the banking industry in education. “The Company is fortunate to retain Mr. Erb as Chief Operating Officer as Ms. Reukauf transitions to her new role outside the organization,” reported Julia Beattie, President & CEO.

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Mr. Erb is the Chief Operating Officer of PBCO Financial Corporation and People’s Bank of Commerce, a role he assumed in June 2024. He joined the Company in 2014 as the Bank’s Chief Banking Officer. Most recently, he served three years as the Bank’s Chief Strategy Officer. Mr. Erb oversees Human Resources, Compliance, Marketing, the Bank’s Branch network, and the Deposit Operations function, including electronic banking and treasury management. Mr. Erb has been in banking since 1986 and has been in executive leadership roles in the industry for over 30 years. He serves on the bank’s Asset/Liability Committee and is the bank’s SAFE Act Officer.