SOURCE: Seacoast Commerce Bank
SAN DIEGO, CA--(Marketwire - Jul 5, 2012) - Seacoast Commerce Bank (OTCBB: SCCB) announced that it has opened its second branch in the Rancho Bernardo community of San Diego and has moved it corporate headquarters and back-office support teams into the same location at 11939 Rancho Bernardo Road, Suite 200, San Diego, CA 92128. In addition, the ICBA Independent Banker®, the award-winning magazine of Independent Community Bankers of America, has named Seacoast Commerce Bank one of the top performing banks in the Country.
Richard M. Sanborn, President & Chief Executive Officer, commented, "We are very excited about our new branch and our new corporate and back-office support location in Rancho Bernardo. We were at capacity in both our existing locations in Chula Vista and Escondido, and our new space allows us to grow substantially as our business grows. In addition, not only does this move allow us to consolidate all our operations into one location, which provides tremendous efficiencies, it also provides us almost double our original space at less cost."
Seacoast Commerce Bank was also named one of the top performing community banks in the Country by the ICBA Independent Banker®, the award-winning magazine of Independent Community Bankers of America, and the nation's No. 1 source for community banking news. As part of the annual year-end 2011 performance rankings of ICBA members, ICBA Independent Banker pulls call-report data from the FDIC to identify the top community banks as measured by return on average assets ("ROA") and return on average equity ("ROE"). The list highlights the top 20 community bank performers grouped by tax classification and asset size.
For 2011, Seacoast Commerce Bank was ranked 12th in the Country with a 1.70% ROA, and 15th in the Country with a 14.94% ROE. To see the ICBA Independent Banker's top performers listing, read the article "Mapping the Future" on ICBA Independent Banker's website at www.independentbanker.org.
"We are honored to be named to ICBA Independent Banker's top performing list," stated Allan W. Arendsee, Chairman of Board. "Our whole team has been focused on providing assistance to the small businesses in our market areas and that in turn has allowed us to produce consistent results for our shareholders."
Seacoast Commerce Bank is a business bank operating in San Diego, California, with loan production offices in San Diego County, Orange County, Los Angeles, Sacramento and San Ramon, California; Bellevue, Washington; Phoenix, Arizona; Dallas, Texas; Salt Lake City, Utah; and Las Vegas, Nevada. For more information on the bank please visit our website at www.sccombank.com or contact Richard M. Sanborn, President and Chief Executive Officer at 858-432-7001.
Certain statements in this press release, including statements regarding the anticipated development and expansion of the Bank's business, and the intent, belief or current expectations of the Bank, its directors or its officers, are "forward-looking" statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such "forward-looking" statements. These risks and uncertainties include, but are not limited to, risks related to the local and national economy, the Bank's performance and regulatory matters.