Security Bank of California Opens New Branch in Downtown Redlands
RIVERSIDE, Calif.--(Business Wire)-- Security Bank of California recently announced the July 8, 2009 opening of its new branch in downtown Redlands. Located at 201 E State Street, the branch will be a full service banking office, offering a wide array of financial products and services. In keeping with the bank`s commitment to local, personalized service for its clients, the branch will be led by two Redlands banking professionals. Beth Sanders, who brings over 35 years of banking experience, all in Redlands, will be joined by Brent Coats, who has over 28 years of banking experience. Ms. Sanders commented, "We are well positioned to pick up the role of a true community bank - one that meets the needs and reflects the value of our town." "Security Bank of California has deep ties to Redlands through its board members and bank organizers who have demonstrated a long standing commitment to our community," added Sanders. James A Robinson, Chairman and Chief Executive Officer, stated that, "The Board has always looked to Redlands as a strategic part of the bank`s footprint." We are very excited to become a visible part of this vibrant community." Security Bank of California opened for business on June 20, 2005, and is headquartered in downtown Riverside, with full service banking offices in Riverside and San Bernardino. The Bank reported Total Assets of $258 million as of March 31, 2009. The Bank is well capitalized, reporting a total risk based capital ratio of 17.52%, nearly twice the regulatory standard for a "well capitalized" institution. Security Bank of California is a wholly owned subsidiary of Security California Bancorp and is traded on the Over the Counter Bulletin Board under the symbol, SCAF.OB. This release may contain forward-looking statements that are subject to risks and uncertainties. Such risks and uncertainties may include but are not necessarily limited to fluctuations in interest rates, inflation, government regulations and general economic conditions, and competition within the business areas in which the Bank is conducting its operations, including the real estate market in California and other factors beyond the Bank`s control. Such risks and uncertainties could cause results for subsequent interim periods or for the entire year to differ materially from those indicated. Readers should not place undue reliance on the forward-looking statements, which reflect management`s view only as of the date hereof. The Bank undertakes no obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances. Security Bank of California Michael Vanderpool, President & COO, 951-368-2267 Thomas M. Ferrer, EVP & CFO, 951-368-2268 Copyright Business Wire 2009
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