SAN DIEGO TRUST BANK TO OPEN NEW POINT LOMA OFFICE
Raymond Simas Leads Top-Notch Team as Bank Moves onto the Peninsula
SAN DIEGO - Following record Q1 results, including its 22nd consecutive quarter of earnings, San Diego Trust Bank (OTCBB: SDBK) announced today that it will be opening a new, full service, banking office in the Village of Point Loma this summer. Raymond Simas, one of the most well-known and respected bankers in Pt. Loma and the surrounding communities, will lead the Bank’s expansion efforts in the region.
Simas, who joined San Diego Trust Bank last June, has personally served the needs of the Pt. Loma community for almost 30 years. Prior to joining San Diego Trust Bank, Simas was Vice President and Manager of San Diego National Bank’s highly successful Pt. Loma Office. In addition to attending to the professional needs of his clients, Simas is dedicated to communities in which he works having served on the boards of the Peninsula YMCA, Peninsula Chamber of Commerce, and Point Loma Association. Simas is currently a member of the Honorary Deputy Sheriffs Association and served as Past President of the United Portuguese SES.
“I’m thrilled to open a new office in Pt. Loma under the San Diego Trust banner,” commented Simas. “The recent turmoil in the banking industry has left a noticeable void in the Pt. Loma market,” Simas continued. “Our exceptional level of customer service combined with the unparalleled financial performance of our bank provides a great deal of comfort to our clients in these uncertain times,” he added.
San Diego Trust Bank is scheduled to open the new facility later this summer, pending regulatory approval and completion of tenant improvements. The new Banking Center will be located at 1110 Rosecrans Street, Suite #101 (on the corner of Rosecrans and Avenida de Portugal) with reserved parking, an ATM and night depository.
“Point Loma is a unique and wonderful community, with its own distinct character and needs,” commented Michael Perry, Chairman, President and CEO. “Our strong ties to that community through our Board, management team, and numerous founding shareholders (via Peninsula Bank) make it a natural extension of our operation,” he added. “We are grateful to the many Pt. Loma residents and businesses that have already established their banking relationship with San Diego Trust and look forward to opening our newest office soon,” Perry concluded.
San Diego Trust Bank is recognized as one of the most successful community banks in all of San Diego County, and is the only community bank in the region to receive a “5-Star” designation from Bauer Financial for the past 15 consecutive quarters.
San Diego Trust’s Bank’s actual capital ratios as of 3/31/10 are summarized as follows:
Well-Capitalized Standards San Diego Trust Bank
Tier 1 Leverage 5.00% 10.88%
Tier 1 Risk Based 6.00% 21.06%
Total Risk Based 10.00% 22.32%
San Diego Trust Bank did not apply for any taxpayer funded bail-out funds under the much maligned TARP program. The Bank’s liquidity position has never been stronger with more than $100 million in cash and securities available for sale as of March 31, 2010.
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 four hundred years of collective experience 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.”
San Diego Trust Bank common stock is traded on the Over-the-Counter Bulletin Board (OTCBB) under the symbol “SDBK”. For information on acquiring the company’s stock please contact Mr. Richard Levenson, President of Western Financial Corporation at (619) 544-0260.
For more information on bank ratings please visit www.bauerfinancial.com
For more information on the Bank please visit www.sandiegotrust.com or call (619) 525-1700.
Chairman, President and CEO
Senior Vice President / Manager
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.