Pine

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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 ANNOUNCES SOLID PERFORMANCE, CONTINUED GROWTH IN FOURTH QUARTER

California community bank reaches $2 billion in assets, increases lending and deposits; maintains focus on offering local businesses solutions to address their unique needs through breadth of offerings, personalized attention from experienced area bankers with vested interest in local communities

SAN DIEGO, March 4, 2013 - Torrey Pines Bank, a leading business bank in California and an affiliate of Western Alliance Bancorporation, today announced that it closed out a year of solid performance, with increases in revenue, loans and deposits and continued improvement in asset quality in the fourth quarter 2012

Torrey Pines Bank currently has $2 billion in assets, 12 full service offices, and 233 full-time employees since starting almost ten years ago in 2003, with $20 million in initial capital and a single office with seven employees.

The bank also reported:

  • Total revenue was $23.3 million in fourth quarter 2012, an increase of $384,000 or 1.7% from third quarter 2012 and of $1.6 million or 7.6% year over year.
  • Loans grew to $1.5 billion in fourth quarter 2012, by $77.6 million, or 5.4%, from third quarter 2012. Loans grew by $158 million or 12% year over year. Torrey Pines Bank has grown business loans by 39% in the past two years alone.
  • Total deposits grew to $1.7 billion in fourth quarter 2012, an increase of $65 million, or 4.1%, from third quarter 2012. Deposits grew by $263 million or 18.5% year over year.
  • Total assets for fourth quarter 2012 were $2 billion, increasing by $131 million or 7% from third quarter 2012, and increasing significantly by $291.4 million or 16.9% year over year.
  • Net income from continuing operations was $5.2 million in fourth quarter 2012. This is down $1.2 million or 19% from third quarter 2012 and down $.7 million or 12% for fourth quarter 2011, partially due to higher loan growth resulting in corresponding allowances for loan loss provisions.
  • Operating net income for the year of $22.7 million is up $3.2 million or 16% from 2011.
  • Return on assets for the fourth quarter 2012 was 1.67%, (excluding discontinued operations) up from 1.3% in the third quarter 2012, and up 27 basis points from fourth quarter 2011. Return on assets for 2012 (excluding discontinued operations) was 1.19% up from 1.16% in 2011.
  • Non-performing assets (NPAs) represent 0.47% of total assets, as of the fourth quarter 2012. NPAs decreased from 0.7% in third quarter 2012 and decreased from .73% year over year. They have never exceeded 0.83% over the past eight quarters, indicating a consistently strong loan portfolio.
  • The bank has a strong capital position; Tier One risk-based capital ratio is at 9.05%.

"2012 has been a year of solid performance for Torrey Pines Bank. We appreciate the support and opportunity to earn our clients' business and trust. We will continue to strive to provide the personal attention, industry insights and access to a breadth of products to help businesses make the best financial decisions at each stage of their business. We look forward to another great year of continued success and to continuing to focus on what we do best -- working with the local business community to help businesses and people thrive," said Gary Cady, CEO, Torrey Pines Bank.

In 2012, Torrey Pines Bank opened its Beverly Hills office; announced the hiring of Division President Larry Fountain for the Bay Area, as well as other key, customer-focused executives in the region, Los Angeles, and San Diego. The bank gave over $290,000 to not-for-profit organizations such as The American Red Cross for Hurricane Sandy Relief, Korean Churches Community Development, The San Diego Symphony, SAY San Diego, The American Heart Association, The YMCA and many others.

The bank draws on the support of Western Alliance Bancorporation, a $7.4 billion regional bank holding company with operations in Arizona, California and Nevada. Torrey Pines Bank was recognized by industry-rating agency, The Findley Reports, for achieving 'Super Premier Performance' classification, the agency's highest rating in its "Findley Reports on Financial Institutions."

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.

In addition to being ranked San Diego County's number one community bank SBA 504 lender for seven consecutive years, Torrey Pines Bank was a recipient of the Peak Performance Award presented by National University School of Business (2008); named Most Admired San Diego Company by San Diego Metro and Development Partner of the Year by the San Diego Housing Federation in 2011. The bank's CEO, Gary Cady, is a San Diego Business Journal 2012 Most Admired CEO Award Winner.