NBAN North Bay Bancorp (MM)

North Bay Bancorp (Nasdaq:NBAN), parent of The Vintage Bank and its division Solano Bank, today announced a planned transition in the position of Executive Vice President and Chief Financial Officer (CFO). Michael Wengel has been appointed Executive Vice President & CFO effective June 19, 2006. Current CFO Patrick Phelan will remain with the Company approximately 30 days following June 19 in order to ensure an orderly transition. Mr. Wengel comes to the Company from KPMG LLP where he most recently served as a Senior Manager. He is a Certified Public Accountant and a graduate of Oregon State University. North Bay President & CEO Terry L. Robinson stated, "Although Mr. Phelan's tenure with the Company has regrettably been short in duration, he joined us at a time when his excellent financial skills were utilized to maximum advantage. We are deeply appreciative of the commitment Pat has demonstrated in his seven months here at North Bay and the significant contributions he made during that time. Pat is leaving voluntarily to be able to spend more time with his young family and we certainly respect the motivation for his decision." In announcing the appointment of Michael Wengel, Robinson stated, "We are fortunate to have an outstanding candidate who is intimately familiar with our financial operations and personnel. Mr. Wengel was involved with both the year-end 2004 and 2005 independent financial audits, including our first year of compliance with Sarbanes Oxley Section 404, as the KPMG engagement manager." Earlier today, North Bay Bancorp announced the resignation of KPMG LLP as the Company's independent registered certified public accountants. North Bay is actively seeking a new independent registered certified public accounting firm, expecting to announce a selection within ten days. About North Bay Bancorp North Bay Bancorp was formed in 1999 and is the holding company for The Vintage Bank and its division, Solano Bank. Its stock is publicly traded on the NASDAQ National Market under the symbol NBAN. The Vintage Bank is a full-service commercial bank that offers a wide selection of deposit, loan and investment services. The Bank, which opened in January of 1985, is proud to celebrate 21 years of service and growth throughout the Napa Valley, Northern California's number one tourist destination and the nation's premier wine producing region, with six locations in Napa County, including offices in American Canyon, Gateway Industrial Park and St. Helena. The Solano Bank division, opened in 2000 as a separately chartered bank, has offices in Vacaville, Fairfield, Vallejo and Benicia. Solano County, projected to be the Bay Area's fastest growing County through year 2030, provides excellent growth opportunities for the Bank. This news release contains forward-looking statements with respect to the financial condition, results of operation and business of North Bay Bancorp and its subsidiary. These include, but are not limited to, statements that relate to or are dependent on estimates or assumptions relating to the prospects of loan growth, credit quality and certain operating efficiencies resulting from the operations of The Vintage Bank and its Solano Bank Division. These forward-looking statements involve certain risks and uncertainties. Factors that may cause actual results to differ materially from those contemplated by such forward-looking statements include, among others, the following possibilities: (1) competitive pressure among financial services companies increases significantly; (2) changes in the interest rate environment on interest margins; (3) general economic conditions, internationally, nationally or in the State of California are less favorable than expected; (4) legislation or regulatory requirements or changes adversely affect the business in which the combined organization will be engaged; (5) finalization of the year-end audit results; (6) the ability to satisfy the requirements of the Sarbanes-Oxley Act and other regulations governing internal control and (7) other risks detailed in the North Bay Bancorp reports filed with the Securities and Exchange Commission.