Redwood Capital Bancorp Strengthens Governance and Leadership with Board Appointment of Jennifer P. Budwig
Redwood Capital Bancorp, the only locally owned and operated community bank holding company in Humboldt County, has taken a significant step in reinforcing its leadership and governance framework with the appointment of Jennifer P. Budwig to the Boards of Directors of both Redwood Capital Bancorp and its wholly owned subsidiary, Redwood Capital Bank, effective January 21, 2026. The appointment reflects the Company’s continued emphasis on leadership continuity, operational excellence, and long-term strategic planning, particularly as the Bank navigates an evolving financial services environment while remaining firmly rooted in its community banking mission. As a senior executive who has spent nearly two decades advancing through the organization, Ms. Budwig brings institutional knowledge, operational depth, and a strong cultural alignment with the Bank’s values, making her a natural choice for expanded governance responsibilities at both the holding company and bank levels.
A Career Built on Commitment to Community Banking and Operational Excellence
Jennifer P. Budwig’s professional journey at Redwood Capital Bank began on July 24, 2006, when she joined the institution as Vice President and Commercial Loan Officer, marking the start of a career defined by steady progression, deepening responsibility, and an unwavering commitment to the Bank’s relationship-driven approach to serving local businesses and residents. Early in her tenure, Ms. Budwig distinguished herself through her strong understanding of credit fundamentals, her ability to build trusted client relationships, and her keen awareness of the unique economic dynamics of Humboldt County. These attributes positioned her for continued advancement, and in September 2008, she was promoted to Regional Manager of the Eel River Valley, where she assumed broader leadership responsibilities, overseeing regional operations while strengthening the Bank’s footprint in a critical local market.
Ascension to Senior Management and Strategic Leadership
In September 2013, Ms. Budwig was appointed to senior management, a milestone that formalized her role as a key member of the Bank’s executive leadership team and recognized her growing influence on operational strategy and organizational performance. From that point forward, she became deeply involved in shaping the Bank’s internal processes, lending strategies, and customer service standards, contributing to the institution’s stability and growth through periods of economic change and regulatory complexity. Her leadership style, characterized by thoughtful decision-making, collaborative problem-solving, and a clear focus on aligning operational execution with strategic objectives, further solidified her standing within the organization and among her peers.
Leadership Roles as Chief Lending Officer and Chief Operating Officer
Prior to her current position, Ms. Budwig served as Senior Vice President and Chief Lending Officer of Redwood Capital Bancorp and Redwood Capital Bank, a role in which she oversaw the Bank’s lending operations and credit administration functions. In that capacity, she played a central role in balancing prudent risk management with the Bank’s mission to support local economic development, ensuring that lending practices remained both sound and responsive to the needs of the community. On November 20, 2024, Ms. Budwig assumed the role of Senior Vice President and Chief Operating Officer, expanding her responsibilities to include oversight of critical day-to-day operational functions across the organization. As Chief Operating Officer, she provides strategic leadership across departments, coordinates operational initiatives, and ensures that systems, processes, and personnel are aligned with the Bank’s long-term growth and performance objectives.
Proven Leadership During a Period of Executive Transition
Ms. Budwig’s leadership capabilities were further demonstrated during a pivotal period between July 22, 2021, and June 15, 2022, when she served as Acting Chief Executive Officer of both the Company and the Bank during President and Chief Executive Officer John E. Dalby’s medical leave of absence. During this time, she provided steady, effective leadership, ensuring operational continuity and maintaining stakeholder confidence while overseeing the Bank’s strategic direction and day-to-day management. Her ability to lead during this interim period reinforced the Board’s confidence in her judgment, resilience, and readiness to assume broader leadership roles, attributes that directly informed the decision to appoint her to the Boards of Directors.
Board Appointment Reflects Confidence in Experience and Judgment
The appointment of Jennifer P. Budwig to the Boards of Directors represents a deliberate and strategic decision by Redwood Capital Bancorp to further integrate executive leadership with board-level governance. John E. Dalby, President and Chief Executive Officer of the Company and the Bank, emphasized the significance of the appointment by noting that Ms. Budwig is a trusted leader whose depth of experience, operational expertise, and commitment to the organization make her an invaluable addition to the Boards. He highlighted her leadership, sound judgment, and long-standing dedication to the Bank as key factors in the decision, underscoring the strong confidence management and the Board place in her ability to contribute meaningfully to governance oversight and strategic decision-making.
Chairman and Board Affirm Support for Expanded Role
The Board of Directors echoed this sentiment, emphasizing the strength that Ms. Budwig’s appointment brings to both the holding company and bank boards. J. William McAuley, Chairman of the Boards of Directors, noted that Ms. Budwig has earned the respect of the Board through years of dedicated service, demonstrated leadership, and consistently sound judgment. He further stated that her appointment enhances the effectiveness of the Boards by adding a director with deep operational insight, firsthand knowledge of the Bank’s culture, and a proven track record of leadership, reinforcing the institution’s governance framework as it continues to execute its strategic vision.
Integration of Leadership Succession Planning
Ms. Budwig’s board appointment is also a key component of Redwood Capital Bancorp’s long-term leadership succession planning, reflecting the Company’s proactive approach to ensuring continuity and stability at the executive level. As part of this plan, the Board anticipates that Ms. Budwig will transition into the role of President in the second quarter of 2026, while John E. Dalby, the Bank’s founding President and Chief Executive Officer, continues in the role of Chief Executive Officer of the Company. This structured transition is designed to preserve institutional knowledge, maintain strategic momentum, and provide clear leadership direction for employees, customers, and shareholders.
Responsibilities and Vision as Incoming President
In her anticipated role as President, Ms. Budwig will play a central role in developing and executing the Bank’s strategic objectives and operational plans, overseeing the institution’s long-term direction and day-to-day management, and ensuring that the Bank continues to deliver high-quality financial services rooted in community engagement. She is expected to remain actively involved in civic and service endeavors, reinforcing the Bank’s longstanding commitment to community involvement and local economic development. Her leadership is expected to support sustainable growth while preserving the relationship-focused banking model that has defined Redwood Capital Bank’s success.
Continued Leadership and Oversight by the Chief Executive Officer
As Chief Executive Officer, Mr. Dalby will continue to oversee the overall performance of the Bank and the Company, providing strategic guidance and mentorship while supporting the President in executing the institution’s mission, vision, and strategic initiatives. In addition to his executive responsibilities, the Chief Executive Officer will serve the Boards of Directors by overseeing administrative functions related to board operations, corporate governance, and shareholder relations, ensuring that governance practices remain aligned with best-in-class standards and regulatory expectations. This dual-leadership structure reflects a collaborative approach designed to leverage the strengths of both executives while maintaining clear accountability and oversight.
Commitment to Governance Standards and Shareholder Transparency
Redwood Capital Bancorp’s governance practices are further underscored by its listing on the OTCQX Best Market under the symbol RWCB, a designation reserved for companies that meet high financial standards, adhere to best-practice corporate governance principles, demonstrate compliance with U.S. securities laws, and are sponsored by a professional third-party advisor. The Company’s commitment to transparency and accountability is an integral part of its relationship with shareholders and the broader investment community, reinforcing confidence in its leadership and strategic direction.
Community Roots and Institutional Identity
As the only locally owned and operated community bank holding company in Humboldt County, Redwood Capital Bancorp occupies a unique position within the regional financial landscape, combining deep local roots with disciplined management and governance practices. The appointment of a long-tenured executive such as Ms. Budwig to the Boards of Directors reinforces the Bank’s identity as a community-focused institution guided by leaders who understand the region, its businesses, and its residents. This alignment between leadership, governance, and community values continues to distinguish Redwood Capital Bancorp as a trusted financial partner.
