David Malone

Chief Executive

Community Bank, Pasadena

Appointed September 2008

Age: 58

Education: Bachelor’s degree, California State University, Northridge

Previous Position: Executive vice president and chief operating officer, Community Bank, 2 years

Goal: To continue the momentum that the bank has developed over the last few years while making sure that we maintain asset quality. We adhere to a conservative underwriting strategy that we’ve employed here for a number of years.

Challenges: At the time (I was appointed) Chief Executive Fran Shanahan had just passed away and it was also in the middle of the IndyMac Bank failure. So the first part of my tenure as chief executive was to see our largest clients and make them develop an understanding in terms of how financially sound we were. That was the bulk of what I did in the first few months. Right now, one of the challenges we have is to continue to increase market share in a fairly turbulent financial market.

What’s Wrong With Banking Now: We’re more of a business bank, so we’re seeing business revenues decline somewhat, but we haven’t been affiliated with the subprime market or any of the housing issues.

What’s Right: What the government is doing relative to the Tarp money, and bolstering balance sheets, is good for the banking community at large. It’s instilling confidence in the marketplace, which I think is very important to people.

I Decided to be a Banker Because: It’s kind of funny. I started off working for Bank of America full time while going to Cal State Northridge full time at night to pursue an accounting degree. I left Cal State Northridge and went to work for Arthur Andersen on the tax side of things and then went form there to a small troubled bank in Beverly Hills to become chief financial officer. So it’s kind of a circuitous route.

Best Career Decision: I was with Andersen’s consulting practice before I came to Community Bank. I think the decision to leave there to come here was probably the best decision of my life.

Worst Decision: When I left Arthur Andersen to go to work for a troubled financial institution in the early ’80s. Being younger, I think that I made a decision to make a move solely based on dollars and in hindsight, I think that was a short-sighted move.

What My Colleagues Don’t Know: At one point I wanted to pursue a career in professional baseball. I played through high school and blew an arm out in high school. I played first base and pitched.

Best Advice: The best advice I ever received, which is something I think that I keep in front of me at all times, is “Think straight, talk straight.” That’s the philosophy we have here at the bank and it comes to me from Arthur Andersen that was their motto.