First California Bank, a subsidiary of First California Financial Group, has promoted Stacy Peterson to the newly-created role of market president. 

Peterson joined the company in 2009 as senior vice president and regional manager in commercial lending. Prior to that, she held senior management positions at Santa Barbara Bank & Trust in Ventura County and Fleet Capital. She currently serves on the board of directors and is a founding member of the business advisory council at California State University.

In this new capacity, Peterson will be responsible for overseeing the bank's operations in the Ventura and San Luis Obispo counties. First California Bank currently has six offices in Ventura and one in San Luis.

First California Bank has 19 full-service branches in the US and records around $2 billion in assets under management.