On July 22, 2014, the Board of Directors of Solera National Bancorp, Inc. and its wholly-owned subsidiary Solera National Bank (Bank), increased the size of both boards to seven members. Subsequently, the boards' of the Company and the Bank appointed Robert J. Fenton, Eric Liebman and Rene Morin to serve on the board of directors. Also on July 22, 2014, Mr. Lars Johnson gave his resignation, effectively immediately, from both the Company's and Bank's board of directors.

Mr. Johnson did not have any disagreement with the Company on any matter relating to the Company's operations, policies or practices. Mr. Fenton currently serves as the company's and Bank's President and Chief Executive Officer. Prior to that, Mr. Fenton was the company's and Bank's Executive Vice resident, Chief Financial Officer and Secretary from its opening in September 2007 until March 2014.

Also on July 22, 2014, the Board appointed Ms. Melissa Larkin to be the Company's and Bank's Senior Vice President, Chief Financial Officer and Secretary. Ms. Larkin, age 35, joined the Bank when it opened in September 2007 and has served as the company's and Bank's Vice President, Controller during that time.