San Diego Trust Bank Announces Stock Split
Board Declares 3 for 2 Stock Split
SAN DIEGO - San Diego Trust Bank (OTC BB: SDBK) announced today that its Board of Directors has declared a 3 for 2 stock split of its common stock effective April 26th. Shareholders of record of as of that date will be entitled to the split. Each shareholder will receive one additional share for every two that they own. It is anticipated that the additional shares will be issued during the month of May, with any fractional shares that may result paid in cash. State banking regulators have already approved the split.
"We could not be more pleased with the performance of the Bank during the past year and are proud of the fact that we can provide measurable recognition for the continued support and confidence of our shareholders", commented Larry Willette, Chairman of the Board.
San Diego Trust Bank has been recognized as one of the top performing banks in the region and continues to outperform. The Bank turned profitable after just eleven months of operation and has been profitable each successive month thereafter. No other independent community bank in southern California over the past five years has achieved such results.
"Every single employee has an ownership stake in the Company, and as a result, the entire team is focused on the realization of our strategic plan", exclaimed Michael Perry, President and CEO. "We're 100% committed to building the premier financial services company in our market, and in doing so, generating a meaningful return for our loyal supporters," he further added.
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.