San Diego Private Bank Second Quarter Earnings
(firmenpresse) - CORONADO, CA -- (Marketwired) -- 08/05/13 -- Maria P. Kunac, President and Chief Executive Officer of San Diego Private Bank (OTCQB: SDPB), announced today the bank's condition and results of operations for second quarter 2013. This is the first quarterly report of the combined Coronado First Bank and San Diego Private Bank since the merger completed April 2, 2013.
Based on unaudited financial results for the second quarter ended June 30, 2013, San Diego Private Bank reported net profit of $253,000 for the quarter, after merger related expenses and accounting adjustments.
Maria P. Kunac, President and CEO, stated, "We are very pleased with the progress of integrating San Diego Private Bank and Coronado First Bank. With increased credit capacity and expanded service offerings through our branches in Coronado, downtown San Diego, La Jolla and Newport Beach, as well as our SBA Office in San Marcos, we saw an increase in both loans and deposits this quarter. We expect to build on this momentum in the third quarter as southern California economic fundamentals improve."
San Diego Private Bank is publicly traded on the Over-the-Counter Bulletin Board, ticker symbol: "SDPB". Total shares outstanding of San Diego Private Bank stock are 4,053,809 as of 6/30/13.
This press release may include forward-looking statements that involve inherent risks and uncertainties, including the anticipated benefits to be achieved as a result of the merger, the successful integration of the two banks, the equity capital of the combined bank, the potential returns on investment of shareholders, economic conditions and competition in the geographic and business areas in which the Bank operates, inflation, fluctuations in interest rates, legislation and governmental regulation. These statements are subject to risks and uncertainties and actual results could differ materially due to certain risk factors. You should not place undue reliance on forward-looking statements and we undertake no obligation to update those statements whether as a result of changes in underlying factors, new information, future events or otherwise.
Maria P. Kunac
President and Chief Executive Officer
San Diego Private Bank
(858) 875.6900
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Datum: 05.08.2013 - 13:47 Uhr
Sprache: Deutsch
News-ID 1251750
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