San Diego Private Bank Second Quarter Earnings
Coronado, Calif. – August 1, 2013 – 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 imp
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.
Investor Relations Contact
Maria P. Kunac
President and Chief Executive Officer
San Diego Private Bank