Integrated Commercial, Real Estate and Private Banking – One Point of Contact
Sep 30, 2008

California Republic Bank Reports Strong Core Deposit and Loan Growth in the 3rd Quarter ending September 30, 2008

Press Release_3rd Qtr 2008 – PDF version

California Republic Bank (CRB) CRPB announced that growth in customer relationships produced a significant increase in core deposits and loans for the quarter ended September 30, 2008.

After just over nine months in business, the bank reported total assets of $157.7 million as of the quarter ending September 30, 2008, an increase of $31.8 million or 25% over the prior quarter ending June 30, 2008. Total deposits were $108.2 million, a $32.4 million or a 43% increase over the prior quarter. Non-interest bearing demand deposits ended the quarter at $23.3 million, an increase of $7.6 million or 48% over the prior quarter. Interest bearing deposits finished the quarter at $84.9 million, an increase of $24.8 million or 41% over the prior quarter. The bank continues to expand its deposit base through core deposit relationship customers and has no “brokered” or “purchased” money deposits.

The bank’s total loans at September 30, 2008 were $67.2 million, an increase of $26.4 million or 65% over the prior quarter ending June 30, 2008. Since inception, the bank’s loan portfolio has been very strong with no past dues, no non-performing loans and no charge offs.

Shareholders’ equity stood at $49.3 million at September 30, 2008. The bank improved its net loss for the quarter ending September 30, 2008, to $774 thousand, compared to $835 thousand for the prior quarter. The loss for the quarter included $494 thousand in total non cash expenses, bringing the cash loss to $280 thousand.

“Through strong relationships and careful execution of our business plan, we are growing our core loan and deposit business as planned. Therefore, we have continued to achieve steady, consistent and quality growth, producing a strong balance sheet with significant liquidity. We have invested the vast majority of the bank’s liquidity in US government insured instruments, insulating the bank and our customers from the outside financial and credit crisis that plagues so many in today’s marketplace,” said Robert Bulseco, the bank’s CEO.

Bulseco added, “We feel that the safety and soundness of our institution and our customer’s deposits are our highest priority, and therefore we are proud of our strong capital and liquidity ratios, having some of the highest in the country at 35.2% leverage capital ratio and 54.7% liquidity ratio (liquid assets as a percentage of total assets) as of September 30, 2008.”

About California Republic Bank:

California Republic Bank is a full service commercial bank, serving the needs of customers throughout Southern California. Our clients enjoy the service of a private bank, with the lending expertise of a commercial and real estate bank, all in one. We offer a full suite of credit, cash management and depository services, delivered with the highest quality technology and people available in the marketplace.

The bank’s board of directors is comprised of inside directors Robert Bulseco, CEO; John DeCero, Vice Chairman of the Board; and Jon Wilcox, President & COO. Outside board members include Robert Barth, Chairman of the Board, Patrick Allen, former President and COO of Roth Capital Partners; 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; and J. Scott Watt, President/CEO of the Watt Group of Companies.

For more information, contact the bank at 949-270-9700 or visit For information regarding the purchase or sale of the bank’s stock, contact Michael Natzic of Stone & Youngberg at 800-288-2811. The bank’s headquarters is located at 1400 Newport Center Drive, Suite 150, Newport Beach, California.

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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