San Diego Business Journal

San Diego Private Bank Reports Net Income of $473,000 for Q1

By Mike Allen Thursday, May 1, 2014

San Diego Private Bank, celebrating its first year since the merger with Coronado First Bank in April 2013, reported first quarter net income of $473,000, compared with net income of $333,000 for the like first quarter of 2013, prior to the merger being completed.

Total assets as of March 31 were $342.8 million, up 5.4 percent, while total loans were $245.8 million, up from $229.7 million in the like quarter of 2013.

Total deposits increased 6 percent to $279.3 million.

Capital ratios were all in excess of regulatory minimum standards, with total risk-based capital at 18 percent.

CEO Maria Kunac said the bank added a new service in cross-border lending through the Export-Import Bank guarantee program.