{"success":true,"data":{"pressRelease":{"id":"131698","rtpr_id":"nPn33dhm5a","ticker":"MCBI","exchange":"","all_tickers":["MCBI"],"title":"/C O R R E C T I O N -- Monterey County Bank/","author":"PR Newswire","published_at":"2026-08-31T23:26:37.223Z","article_body":"/C O R R E C T I O N -- Monterey County Bank/\n\nPR Newswire\n\nMONTEREY, Calif., Aug. 31, 2026\n\nIn the news release, Monterey County Bank Announces Appointments of Dennis R.\nWoods and Amarjit Shokeen to Its Board of Directors, issued 31-Aug-2026 by\nMonterey County Bank over PR Newswire, we are advised by the company that\nchanges have been made. The complete, corrected release follows:\n\nMonterey County Bank Announces Appointments of Dennis R. Woods and Amarjit Shokeen to Its Board of Directors\n\nMONTEREY, Calif., Aug. 31, 2026 /PRNewswire/ -- Monterey County Bank announces\nthe appointment of Dennis R. Woods as a Director of Monterey County Bank, a\nwholly owned subsidiary of PCB Financial, Inc, and Amarjit Shokeen as a\nDirector of both PCB and Monterey County Bank. The appointments further\nenhance the Boards' banking, financial, operational, and entrepreneurial\nexpertise as PCB continues to execute its long-term strategic objectives.\n\nDennis R. Woods Appointed Director of Monterey County Bank\nMr. Woods brings nearly four decades of community banking leadership and a\ndemonstrated track record of building and scaling a successful financial\ninstitution.\n\nIn 1987, Mr. Woods was the founding Chairman of United Security Bank (\"USB\")\nin Fresno, California. He assumed the additional roles of President and Chief\nExecutive Officer in 1993 and served as Chairman, President, and Chief\nExecutive Officer until April 2026, when USB was acquired by Community West\nBank.\n\nDuring his tenure, Mr. Woods guided USB through multiple economic and\noperating environments and led the institution from de novo formation to more\nthan $1 billion in assets. His experience encompasses strategic planning,\nfinancial institution growth, risk management, executive leadership, and\ncommunity banking.\n\nThe Board believes Mr. Woods' extensive banking and executive experience will\nprovide a valuable perspective to the Board and management of Monterey County\nBank, particularly as the Bank continues to evaluate opportunities to\nstrengthen its market position and create long-term value for its\nstakeholders.\n\nAmarjit Shokeen Appointed Director of PCB and Monterey County Bank\nMr. Shokeen is a co-founder of Apolis, a technology and professional services\nfirm and annual revenues of approximately $65 million, and of Welcome Group\nInc., a hospitality company operating 12 hotels with approximately $125\nmillion in annual revenues. He built both businesses from inception and has\nfounded or backed a number of earlier-stage ventures across technology and\nreal estate.\n\nAs an operator and investor, Mr. Shokeen has assembled and managed capital\nstructures across construction and acquisition financing, working capital\nfacilities, and equity raises. That experience on the borrower side gives him\na practical view of how banks underwrite, monitor, and support commercial\nclients — a perspective the Board expects will inform its oversight of\ncredit strategy and business development.\n\nA father and grandfather, Mr. Shokeen lives in Pacific Palisades, CA with his\nfamily.\n\n\"We are pleased to welcome Dennis and Amarjit to the Boards of PCB and\nMonterey County Bank,\" said Bill Wilson, President & CEO of Monterey\nCounty Bank. \"Their complementary backgrounds add significant depth to our\ngovernance and strategic capabilities. We believe both directors will make\nmeaningful contributions as we pursue our strategic priorities and continue to\nfocus on producing long-term value for our customers and shareholders.\"\n\nThe appointments reflect Monterey County Bank's continued focus on building a\nBoard with a broad range of experience and perspectives relevant to the\nCompany's strategy, risk management, growth, and long-term performance.\n\nAbout PCB Financial, Inc.\nPCB Financial, Inc. is the bank holding company for Northern California\nBancorp, Inc, and Monterey County Bank, both of which were acquired by PCB in\nAugust 2024.\n\nAbout Monterey County Bank\nFounded in 1977, Monterey County Bank is a full-service relationship-focused\ncommunity bank dedicated to serving local businesses and non-profit\norganizations throughout Monterey County. With a deep commitment to the\ncommunity, Monterey County Bank offers a wide range of banking services,\nincluding personal and business banking, SBA loans, and commercial loans. For\nmore information about Monterey County Bank, please\nvisit www.montereycountybank.com\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4764176-1&h=4277516422&u=http%3A%2F%2Fwww.montereycountybank.com%2F&a=www.montereycountybank.com)\n.\n\nMEDIA CONTACT\nBill Wilson, President & Chief Executive Officer\nMonterey County Bank\n831-649-4600\nbwilson@montereycountybank.com (mailto:bwilson@montereycountybank.com)\n\nCorrection: The headline has been corrected.\n\nView original content to download\nmultimedia:https://www.prnewswire.com/news-releases/monterey-county-bank-announces-appointments-of-dennis-r-wood-and-amarjit-shokeen-to-its-board-of-directors-302865309.html\n(https://www.prnewswire.com/news-releases/monterey-county-bank-announces-appointments-of-dennis-r-wood-and-amarjit-shokeen-to-its-board-of-directors-302865309.html)\n\nSOURCE Monterey County Bank\n\n\n\nPhoto: \nhttps://mmx.prnewswire.com/media/MS1798602/MCB-LOGO-HORIZONTAL-MAIN-Logo-Logo.jpg?id=OA2921401\n\nCopyright (c) 2026 PR Newswire Association,LLC. All Rights Reserved.","article_body_html":"","raw_payload":{"data":{"id":"nPn33dhm5a","title":"/C O R R E C T I O N -- Monterey County Bank/","author":"PR Newswire","ticker":"MCBI","created":"2026-08-31T23:26:37.223Z","tickers":["MCBI"],"exchange":"","article_body":"/C O R R E C T I O N -- Monterey County Bank/\n\nPR Newswire\n\nMONTEREY, Calif., Aug. 31, 2026\n\nIn the news release, Monterey County Bank Announces Appointments of Dennis R.\nWoods and Amarjit Shokeen to Its Board of Directors, issued 31-Aug-2026 by\nMonterey County Bank over PR Newswire, we are advised by the company that\nchanges have been made. The complete, corrected release follows:\n\nMonterey County Bank Announces Appointments of Dennis R. Woods and Amarjit Shokeen to Its Board of Directors\n\nMONTEREY, Calif., Aug. 31, 2026 /PRNewswire/ -- Monterey County Bank announces\nthe appointment of Dennis R. Woods as a Director of Monterey County Bank, a\nwholly owned subsidiary of PCB Financial, Inc, and Amarjit Shokeen as a\nDirector of both PCB and Monterey County Bank. The appointments further\nenhance the Boards' banking, financial, operational, and entrepreneurial\nexpertise as PCB continues to execute its long-term strategic objectives.\n\nDennis R. Woods Appointed Director of Monterey County Bank\nMr. Woods brings nearly four decades of community banking leadership and a\ndemonstrated track record of building and scaling a successful financial\ninstitution.\n\nIn 1987, Mr. Woods was the founding Chairman of United Security Bank (\"USB\")\nin Fresno, California. He assumed the additional roles of President and Chief\nExecutive Officer in 1993 and served as Chairman, President, and Chief\nExecutive Officer until April 2026, when USB was acquired by Community West\nBank.\n\nDuring his tenure, Mr. Woods guided USB through multiple economic and\noperating environments and led the institution from de novo formation to more\nthan $1 billion in assets. His experience encompasses strategic planning,\nfinancial institution growth, risk management, executive leadership, and\ncommunity banking.\n\nThe Board believes Mr. Woods' extensive banking and executive experience will\nprovide a valuable perspective to the Board and management of Monterey County\nBank, particularly as the Bank continues to evaluate opportunities to\nstrengthen its market position and create long-term value for its\nstakeholders.\n\nAmarjit Shokeen Appointed Director of PCB and Monterey County Bank\nMr. Shokeen is a co-founder of Apolis, a technology and professional services\nfirm and annual revenues of approximately $65 million, and of Welcome Group\nInc., a hospitality company operating 12 hotels with approximately $125\nmillion in annual revenues. He built both businesses from inception and has\nfounded or backed a number of earlier-stage ventures across technology and\nreal estate.\n\nAs an operator and investor, Mr. Shokeen has assembled and managed capital\nstructures across construction and acquisition financing, working capital\nfacilities, and equity raises. That experience on the borrower side gives him\na practical view of how banks underwrite, monitor, and support commercial\nclients — a perspective the Board expects will inform its oversight of\ncredit strategy and business development.\n\nA father and grandfather, Mr. Shokeen lives in Pacific Palisades, CA with his\nfamily.\n\n\"We are pleased to welcome Dennis and Amarjit to the Boards of PCB and\nMonterey County Bank,\" said Bill Wilson, President & CEO of Monterey\nCounty Bank. \"Their complementary backgrounds add significant depth to our\ngovernance and strategic capabilities. We believe both directors will make\nmeaningful contributions as we pursue our strategic priorities and continue to\nfocus on producing long-term value for our customers and shareholders.\"\n\nThe appointments reflect Monterey County Bank's continued focus on building a\nBoard with a broad range of experience and perspectives relevant to the\nCompany's strategy, risk management, growth, and long-term performance.\n\nAbout PCB Financial, Inc.\nPCB Financial, Inc. is the bank holding company for Northern California\nBancorp, Inc, and Monterey County Bank, both of which were acquired by PCB in\nAugust 2024.\n\nAbout Monterey County Bank\nFounded in 1977, Monterey County Bank is a full-service relationship-focused\ncommunity bank dedicated to serving local businesses and non-profit\norganizations throughout Monterey County. With a deep commitment to the\ncommunity, Monterey County Bank offers a wide range of banking services,\nincluding personal and business banking, SBA loans, and commercial loans. For\nmore information about Monterey County Bank, please\nvisit www.montereycountybank.com\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4764176-1&h=4277516422&u=http%3A%2F%2Fwww.montereycountybank.com%2F&a=www.montereycountybank.com)\n.\n\nMEDIA CONTACT\nBill Wilson, President & Chief Executive Officer\nMonterey County Bank\n831-649-4600\nbwilson@montereycountybank.com (mailto:bwilson@montereycountybank.com)\n\nCorrection: The headline has been corrected.\n\nView original content to download\nmultimedia:https://www.prnewswire.com/news-releases/monterey-county-bank-announces-appointments-of-dennis-r-wood-and-amarjit-shokeen-to-its-board-of-directors-302865309.html\n(https://www.prnewswire.com/news-releases/monterey-county-bank-announces-appointments-of-dennis-r-wood-and-amarjit-shokeen-to-its-board-of-directors-302865309.html)\n\nSOURCE Monterey County Bank\n\n\n\nPhoto: \nhttps://mmx.prnewswire.com/media/MS1798602/MCB-LOGO-HORIZONTAL-MAIN-Logo-Logo.jpg?id=OA2921401\n\nCopyright (c) 2026 PR Newswire Association,LLC. All Rights Reserved."},"type":"article","timestamp":"2026-08-31T23:26:37.268544743Z","server_sent_at_ms":1788218797268},"received_at":"2026-08-31T23:26:37.356Z","source_url":"https://www.prnewswire.com/news-releases/monterey-county-bank-announces-appointments-of-dennis-r-wood-and-amarjit-shokeen-to-its-board-of-directors-302865309.html"},"analysis":{"id":"120606","press_release_id":"131698","analysis_json":{"industry":{"label":"Banks","sector":"Financials"},"redFlags":[],"eventType":"board_change","narrative":"Monterey County Bank appointed Dennis R. Woods and Amarjit Shokeen to its board, with Shokeen also joining the board of parent company PCB Financial.\n\nWoods brings four decades of community banking experience, having previously led United Security Bank to over $1 billion in assets, while Shokeen offers entrepreneurial insight from founding technology and hospitality firms.\n\nCEO Bill Wilson stated that the new directors' complementary backgrounds will enhance governance and strategic capabilities.","sentiment":"bullish","agentHooks":{"shouldPost":false,"suggestedAngle":"Board refresh adds banking and entrepreneurial expertise."},"keyFigures":null,"quotedText":"We are pleased to welcome Dennis and Amarjit to the Boards of PCB and Monterey County Bank","namedEntities":{"people":[{"name":"Dennis R. Woods","role":"Director of Monterey County Bank"},{"name":"Amarjit Shokeen","role":"Director of PCB Financial and Monterey County Bank"},{"name":"Bill Wilson","role":"President & CEO of Monterey County Bank"}],"products":[],"companies":[{"name":"Monterey County Bank","ticker":"MCBI","relationship":"issuer"},{"name":"PCB Financial, Inc","relationship":"parent company"},{"name":"Northern California Bancorp, Inc","relationship":"subsidiary of parent"},{"name":"United Security Bank","relationship":"mentioned in bio"},{"name":"Community West Bank","relationship":"mentioned in bio"},{"name":"Apolis","relationship":"mentioned in bio"},{"name":"Welcome Group Inc.","relationship":"mentioned in bio"}],"dollarAmounts":[{"amount":"$1 billion","context":"assets of United Security Bank under Woods' leadership"},{"amount":"$65 million","context":"annual revenues of Apolis"},{"amount":"$125 million","context":"annual revenues of Welcome Group"}]},"materialImpact":{"score":2,"reasoning":"The appointment of two experienced directors strengthens the board's expertise in banking and entrepreneurship, representing a positive governance step for a small-cap bank, but is a routine corporate action."},"tickerRelevance":{"others":[],"primary":"MCBI"},"globalImportance":15,"audienceRelevance":15,"eventTypeSecondary":[],"importanceComponents":{"tickerTier":"small-cap","eventGravity":"board_appointment"}},"event_type":"board_change","event_type_secondary":null,"sentiment":"bullish","material_impact_score":2,"narrative":"Monterey County Bank appointed Dennis R. Woods and Amarjit Shokeen to its board, with Shokeen also joining the board of parent company PCB Financial.\n\nWoods brings four decades of community banking experience, having previously led United Security Bank to over $1 billion in assets, while Shokeen offers entrepreneurial insight from founding technology and hospitality firms.\n\nCEO Bill Wilson stated that the new directors' complementary backgrounds will enhance governance and strategic capabilities.","key_figures":null,"named_entities":{"people":[{"name":"Dennis R. Woods","role":"Director of Monterey County Bank"},{"name":"Amarjit Shokeen","role":"Director of PCB Financial and Monterey County Bank"},{"name":"Bill Wilson","role":"President & CEO of Monterey County Bank"}],"products":[],"companies":[{"name":"Monterey County Bank","ticker":"MCBI","relationship":"issuer"},{"name":"PCB Financial, Inc","relationship":"parent company"},{"name":"Northern California Bancorp, Inc","relationship":"subsidiary of parent"},{"name":"United Security Bank","relationship":"mentioned in bio"},{"name":"Community West Bank","relationship":"mentioned in bio"},{"name":"Apolis","relationship":"mentioned in bio"},{"name":"Welcome Group Inc.","relationship":"mentioned in bio"}],"dollarAmounts":[{"amount":"$1 billion","context":"assets of United Security Bank under Woods' leadership"},{"amount":"$65 million","context":"annual revenues of Apolis"},{"amount":"$125 million","context":"annual revenues of Welcome Group"}]},"model_name":"glm-4.7","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-08-31T23:27:25.179Z","global_importance":15,"audience_relevance":15,"importance_components":{"tickerTier":"small-cap","eventGravity":"board_appointment"}},"durationMs":47791,"modelName":"glm-4.7"}}