Community 1st Bank Appoints Peter Raffetto to Board
Community 1st Bank has announced the addition of longtime banking executive Peter Raffetto to the Bank's Board of Directors.
Raffetto grew up in Auburn, graduated from Placer High School, and earned a degree in Business Administration with an emphasis in finance at University of California, Berkeley.
He enjoyed an extensive and prestigious banking career in the Sacramento region that spanned more than 35 years.
"We are honored to welcome someone of Peter Raffetto's stature to Community 1st Bank. He brings a wealth of knowledge and expertise regarding the banking industry to our Board," said Robert Haydon, President and Chief Executive Officer.
"This is an exciting time to join the Board at Community 1st Bank, a challenging time for the banking industry and the market I served through my entire banking career," Raffetto said. "It's wonderful to join a team that is not only fulfilling the banking needs of local businesses and individuals, but is also a community-based organization that provides a major commitment to civic involvement."
Raffetto was a stock broker for several years before beginning his banking career in 1975 when he was named President and Director of River City Bank. During his 18 years at River City the bank grew from $20 million in assets to approximately $400 million and was considered a premier performing bank.
In 1995, Raffetto served as the Regional President for Truckee River Bank, which had branches in Lake Tahoe, Truckee, Reno and Sacramento. Truckee River eventually became Sierra West Bank and later merged with Bank of the West.
In 2001, Raffetto successfully initiated the startup of Calnet Business Bank, where he worked with Community 1st Bank's Chief Financial Officer, James Kim, and Senior Vice President of Business Development, Gretchen Eischen. He later helped complete the $40 million sale of Calnet to Commercial Capital Bank. Raffetto remained with Commercial Capital until retiring in 2006.
Raffetto has served as Director of both California Independent Bankers and California Bankers Association. While a member of the Board of Trustees for the UC Berkeley Foundation, he received the "Trustee Award" for outstanding service.
Among Raffetto's many civic-oriented leadership roles was serving as Chairman of the Board of Trustees at Jesuit High School and residing on the Advisory Board for the Haas Business School at UC Berkeley. Raffetto is currently a director with California Waterfowl Association and previously was a director and treasurer for WEAVE.
Raffetto lives in Sacramento with his wife, Sue. The couple has three grown children.
Community 1st Bank, the only locally based bank in Placer County, has offices in Auburn, at 649 Lincoln Way, and at 2250 Douglas Blvd. in Roseville.