Pine

Let's Talk

Visit an office
Send us an email
Call 877-476-2265

Trusteer Security Software

Effective October 1, 2012

Trusteer Rapport will be required for all online wire transfer and ACH transactions. More about Trusteer.

 

Pine

Let's Talk

Visit an office
Send us an email
Call 877-476-2265

Trusteer Security Software

Effective October 1, 2012

Trusteer Rapport will be required for all online wire transfer and ACH transactions. More about Trusteer.

Pine

Have a question?
Contact Us.

Visit a branch
Send us an email
Give us a call 1-877-476-2265

Trusteer Rapport is required for all online wire transfer and ACH transactions. More about Trusteer. 

Pine

Let's Talk

Visit an office
Send us an email
Call 877-476-2265

Trusteer Security Software

Effective October 1, 2012

Trusteer Rapport will be required for all online wire transfer and ACH transactions. More about Trusteer.

Torrey Pines Bank is closed on the following holidays:

January 20
February 17
May 26
July 4
September 1
October 13
November 11
November 27 and 28
December 24 at 2:00p.m.
December 25
January 1, 2015

TORREY PINES BANK GROWS REVENUE, LOANS, DEPOSITS WITH CONTINUED FOCUS ON PREMIUM SERVICE, BUSINESS NEEDS

Community bank announces steady financial growth, attributes success to products, programs, and services designed to meet the specific needs of California businesses.

San Diego, CA, January 25, 2012 - Torrey Pines Bank, a leading commercial bank in California and an affiliate of Western Alliance Bancorporation, today announced an increase in revenues, net operating income, loans, and deposits in fourth quarter 2011, as well as strong capital and financial growth overall. The community bank attributes its continued success to a strong focus on its customers’business needs and unwavering commitment to providing exceptional customer service.

The bank reports that net operating income reached $5.9 million in fourth quarter 2011, up $550,000 or 10.2% from third quarter 2011, and up $2,694 or 83% from the same period in 2010. The strong year-over-year increase is attributed to the bank’s extraordinary growth in business and real estate loans.

In the fourth quarter of 2011, total revenue was $21.6 million, up from $20.7 million in the third quarter (or 4.4%) and up $3.3 million (or 17.8%) from the same time period in 2010. Pre-tax, preprovision earnings were $10.5 million in the fourth quarter of 2011, down $190,000 from third quarter 2011 but up $2,270 or 27.4% from the same quarter in 2010. Pre-tax, pre-credit return on average assets (ROAA) was at 2.26%, down slightly from 2.6% in third quarter 2011.

Torrey Pines Bank’s loans grew to $1.3 billion, an increase of $255 million, or 24%, for 2011. Year-over-year deposits grew to $1.4 billion, an increase of $135 million, or 10.5%, from fourth quarter 2010.

The bank also reports that non-performing assets represent just 0.5% of total assets, as of December 31, 2011. This figure has been steadily declining from 1.01% on December 31, 2010, indicating extraordinary credit quality and market expertise. Over the past five quarters, non-performing assets have never exceeded 1.3%, and are steadily improving, which is indicative of a consistently strong loan portfolio. Additionally, Tier One risk based capital ratio is at 9.8%; all capital levels exceed FDIC requirements.

In 2003, Torrey Pines Bank started with $20 million in initial capital and a single office with seven employees. As of December 31, 2011, the bank has $1.7 billion in assets, 11 full service offices, one loan production office and 215 full-time employees. It plans to open a new full-service office in Beverly Hills during the first quarter of 2012.

In addition to being ranked San Diego County’s number one community bank SBA 504 lender for six consecutive years, Torrey Pines Bank is also able to offer commercial real estate loans three to five times higher than other community banks, given the support of its holding company, Western Alliance Bancorporation.

The bank also sponsors a number of educational programs free of charge to customers, including its Aventine education series, recently held in San Diego, Los Angeles, and Oakland in January to help organizations navigate 2012. The series featured bank Board Member and Economist Dr. Sung Won Sohn, and other area experts, on the global economic turbulence and its impact on local businesses and commercial real estate.

“At Torrey Pines Bank, we are proud to announce another great quarter with extraordinary loan growth, strong asset quality, and capital levels that exceed FDIC requirements,” said Gary Cady, CEO.“I echo Dr. Sung Won Sohn’s sentiments at our seminars, when I say that, at Torrey Pines Bank, we remain optimistic about the future and are impressed by the strength of the communities we serve. Local businesses are the pillars of our economy and are pivotal in helping our country to rebound. At Torrey Pines Bank, we are proud to be a part of helping them to succeed and remain vested in regularly anticipating, and being nimble in addressing their requirements. We continue to make our customer experience a high priority by going above and beyond to provide exceptional, hands-on service, and access to veteran local bankers and programs to address businesses’ needs.”

Since its inception, Torrey Pines Bank has donated more than $1.5 million to charitable causes. It gave over $450,000 in 2011, a 12.5% increase over 2010.

The bank was a recipient of the Peak Performance Award presented by National University School of Business (2008). Torrey Pines Bank was also named Most Admired San Diego Company by SDMetro and Development Partner of the Year by the San Diego Housing Federation in 2011.

About Torrey Pines Bank

Torrey Pines Bank is a California-chartered commercial bank, providing commercial and financial services to small and middle market businesses, and personal banking services to proprietors, employees, executives and consumers desiring a personal banking relationship. Information about products and services offered by Torrey Pines Bank is available at www.torreypinesbank.com.