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Private Bancorp of America names successor to retiring CEO

CEO Thomas Wornham is retiring from Private Bancorp of America Inc. and unit CalPrivate Bank, effective Sept. 30.

Wornham will remain as director of the company and the bank.

CalPrivate Bank President Rick Sowers will succeed Wornham as CEO of the bank and the company upon his retirement. Sowers will become president and director of the company, effective Feb. 1.