Sonora, Ca — As Mother Lode Bank approaches its third anniversary this month, CEO Pete Johnson has announced that August 1st will be his official retirement date.
At that time, Chuck Milazzo will take over the top position.
Johnson, who has spent over 40 years in the banking industry, says the past few years have been rewarding. “It has been a great experience to see the support come out of the community, and see this bank come to life and get on the right track,” says Johnson.
One of the recent highlights has been preparing for the opening of a new branch in the Junction Shopping Center in East Sonora. Mother Lode Bank has started to remodel the facility, and the plan is to have it open by October.
“This is the first in a number of branches,” adds Johnson. “As we have told many of our shareholders, we intend to put branches further in Tuolumne County, but also in Calaveras County.” As of late June, Mother Lode Bank has grown into a $63 million organization.
Written by BJ Hansen