From December of 1996 to April of 2002 Mr. Austad was a Vice President of First National Bank, San Diego, where he was responsible for the management and disposition of the banks entire special assets portfolio. Credit facilities under Mr. Austad's purview included construction loans on tract developments, asset based credit lines, SBA loans, letters of credit and other secured and unsecured transactions.

From January 1996 through December 1996 Mr. Austad served as an investment officer for Fleet Real Estate Capital/Mellon Mortgage where he was responsible for originating and underwriting real estate secured credits to Wall Street investors including J.P. Morgan, Lehman Brothers, Citimae and Donaldson Lufkin and Jenrette. During his brief tenure Mr. Austad directly participated in the origination of over $45 million in income property loans.

From 1993 to 1996 Mr. Austad was part of the asset management team of First Fidelity Thrift and Loan Association that completed a successful turnaround of the then foundering institution. In 1990 Mr. Austad began his lending career with International Savings Bank as an Assistant Vice President/Commercial Loan Officer where he originated SFR and income property construction, permanent and rehabilitation facilities. Mr. Austad also served as the bank's assistant CRA Officer.

Prior to 1990 Mr. Austad performed a multitude of analytical and administrative staff duties with Home Federal Savings and Loan and Great American First Savings Bank.

Mr. Austad graduated with honors from San Diego State University with a Bachelor of Science degree in Business Administration/Finance in 1985.