Integrated Commercial, Real Estate and Private Banking – One Point of Contact
Jul 16, 2009

California Republic Bank Announces Strong Second Quarter 2009 Asset Growth, Despite Continuing Economic Downturn

Press Release_2nd Qtr 2009 – PDF version

NEWPORT BEACH, Calif. — (BUSINESS WIRE) — California Republic Bank (CRB) (OTCBB: CRPB) announced its results for the quarter ending June 30, 2009, citing another successful quarter highlighted by an increase in total assets in the midst of continuing economic pressures nationally and in Southern California in particular.

At June 30, 2009, California Republic Bank reported total assets of $186.1 million, an increase of $60.2 million or 48% above total assets as of June 30, 2008. The year-over-year growth in total assets reflects continued strong deposit growth with total deposits at $138.8 million, a $62.9 million increase from the second quarter of 2008. Non-interest bearing, demand deposit accounts grew to $36.3 million, while interest-bearing deposits grew to $102.5 million. The bank continues to build its deposit base with core long-term relationships.

Total loans outstanding at June 30, 2009 grew to $112.9 million, representing a $72.1 million increase from the second quarter of 2008. Total loan commitments were $31.3 million at quarter’s end. The bank continues to have no non-performing assets, no past due loans, and no charge offs.

California Republic Bank again reported strong liquidity. Liquid investments, mostly in federally backed instruments, and fully insured CD investments, totaled $53.8 million as of June 30, 2009. As stated before, the bank has been approved for access to additional liquidity, if requested, through borrowings at the Federal Reserve Board discount window, as well as the Federal Home Loan Bank. However, the bank continues to have no need for such borrowings.

California Republic Bank also reported a Tier 1 Leverage capital ratio of 26.8% and a Total Risk Capital ratio of 38.4%, well in excess of the FDIC capital requirements of 5% and 10% respectively, to be considered ‘well capitalized’ by the FDIC.

“Our second quarter 2009 results reinforce the success of our model, which centers on building long-term banking relationships that result in quality loans and deposits established in an atmosphere of safety and security,” said Jon Wilcox, President of California Republic Bank. “With the confidence that comes from having a strong liquidity position, we will continue to increase core deposit market share throughout Southern California from our thriving Beverly Hills and Newport Beach regional offices.”

Vice Chairman John DeCero stated, “Since the bank’s inception we have grown with core deposits, have declined any government TARP funds, have zero non-performing assets, no past due loans, and no charge offs – each a measure of success that can be accomplished only through prudent stewardship. This position of strength allows us to be laser focused for our clients who present opportunistic deals that require expedited lending capabilities.”

About California Republic Bank:

California Republic Bank is an exclusive, full-service commercial bank that provides clients direct access to executive management. Clients enjoy individualized service tailored and delivered through personal Relationship Managers that understand their needs. California Republic Bank provides the high-touch service of a private bank along with the expertise and lending ability of a commercial and real estate bank. Headquartered in Newport Beach, Calif., California Republic Bank’s regional west LA office is located in Beverly Hills.

For more information, contact Jon Wilcox, President, or John DeCero, Vice Chairman, at 949-270-9700. The full unaudited financial statement for the quarter can be viewed at www.crbnk.com.

The bank’s board of directors comprised inside directors Jon Wilcox, Acting CEO and President; John DeCero, Vice Chairman of the Board; outside board members including Robert Barth, Chairman of the Board; Patrick Allen, former Chief Financial Officer and Head of Equities of Hambrecht & Quist; John Bendheim, President of Bendheim Homes and Bendheim Enterprises, Inc.; Alexander Cappello, Chairman and CEO of Cappello Capital Group; John Hagestad, a Managing Partner of SARES-REGIS Group; J. Scott Watt, President/CEO of the Watt Group of Companies; Bob Din, CEO of En Pointe Technologies, Inc.; and Marc Brutten, Entrepreneur and CEO of Westcore Management in San Diego, California.

For information regarding the purchase or sale of the bank’s stock, contact Michael Natzic of Stone & Youngberg at 800-288-2811.

Certain matters discussed in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, and are subject to the safe harbors created by the act. These forward-looking statements refer to the Company’s current expectations regarding future operating results, and growth in loans, deposits, and assets. These forward-looking statements are subject to certain risks and uncertainties that could cause the actual results, performance, or achievements to differ materially from those expressed, suggested, or implied by the forward-looking statements. These risks and uncertainties include, but are not limited to (1) the impact of changes in interest rates, a decline in economic conditions, and increased competition by financial service providers on the Company’s results of operation; (2) the Company’s ability to continue its internal growth rate; (3) the Company’s ability to build net interest spread; (4) the quality of the Company’s earning assets; and (5) governmental regulations.

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