San Diego Trust Bank Recognized by California Banker's Association
Company Completes 3 for 2 Stock Split
SAN DIEGO - San Diego Trust Bank (OTC BB: SDBK) was recognized by the California's Banker's Association and Carpenter & Company during their annual Strategic Summit, for having achieved the highest stock appreciation of any bank in California over the last year, in the asset class $50 million to $100 million. The award, "Market Cap Champion", was presented to Michael Perry, the Bank's President & CEO, in recognition for having achieved a 170% increase in the value of the company's stock during the past year. The Bank's stock steadily climbed from it's initial offering price of $10.00 per share to $27.00 per share as of December 31, 2004. Since that time, the company's stock has continued to perform well closing at $37.75 as of Friday, May 13th.
The Strategic Issues Summit is sponsored by the California Banker's Association, the largest state trade association in the country, and Carpenter & Company, an Irvine-based investment banking firm specializing in financial institutions. The Market Cap awards are presented to banks in five asset classes, ranging from smaller community banks with under $50 million in assets, to larger banks with total assets of $1 billion to $10 billion.
"We were honored to receive such recognition, and continue to put forth our very best efforts on behalf of our clients and shareholders," stated Michael Perry, President & CEO. "We remain focused on building the premier bank in our market, and in doing so, generating a significant return for our loyal shareholders," he continued.
The Bank also announced today that it has completed the 3 for 2 stock split which was approved by the California Department of Financial Institutions last month. Each shareholder received one additional share for every two that they owned, and accordingly the price per share has been adjusted to reflect such. The Bank trades under the ticker symbol "SDBK".
Founded by several of San Diego's most respected banking veterans and business leaders, San Diego Trust Bank is dedicated to the timeless principles of superior local market knowledge, unparalleled service, and building exceptional shareholder value. With over three hundred years of experience in banking San Diegans, timely local decision making, and one of the most comprehensive product lines found in the market today, San Diego Trust Bank delivers "Performance You Can Trust."
For more information on the Bank please visit www.sandiegotrust.com or call (619) 525-1700.
CONTACT: Michael Perry
FORWARD LOOKING STATEMENTS
Statements concerning future performance, developments or events, expectations for growth and income forecasts, and any other guidance on future periods, constitute forward-looking statements that are subject to a number of risks and uncertainties. Actual results may differ materially from stated expectations. Specific factors include, but are not limited to, loan production, balance sheet management, expanded net interest margin, the ability to control costs and expenses, interest rate changes and financial policies of the United States government and general economic conditions. The Bank disclaims any obligation to update any such factors or to publicly announce the results of any revisions to any forward-looking statements contained herein to reflect future events or developments.