SOURCE: CommerceWest Bank

September 01, 2005 17:25 ET

CommerceWest Bank Receives Regulatory Approval for Its New South Bay Regional Business Center

IRVINE, CA -- (MARKET WIRE) -- September 1, 2005 -- Mr. Ivo A. Tjan, Chairman and CEO of CommerceWest Bank (OTC BB: CWBK) announced the approval from the Office of the Comptroller of the Currency to open a new Regional Business Center in Gardena, California, to manage the South Los Angeles Region.

"The construction is 99% completed and expected to be fully completed in the next few days. This location will be very visible with top of the building signage overlooking both the 110 and 405 freeways," said Mr. Darmawan, Senior Vice President and Director of Operations and I.T.

"We are very excited to be expanding into the South Bay Region and we expect the new location to expand our market share and presence in the Los Angeles area. The new location is scheduled to be fully operational sometime in October of 2005. The new location fits well strategically with our growth plans for the organization," states Mr. Tjan.

About CommerceWest Bank:

CommerceWest Bank is headquartered at 2111 Business Center Drive in Irvine, CA, with Regional Business Centers in Orange County at 4685 MacArthur Court in Newport Beach, CA, and in the Inland Empire at 1611 Pomona Road in Corona, CA, and in South Bay at 19300 S. Hamilton Avenue, Gardena, CA. We offer a wide range of business banking services, including cash management, concierge services, full-service Internet banking, lines of credit, term loans, nation wide commercial real estate lending and SBA Lending.

CommerceWest Bank will create a complete banking experience for each client, catering to businesses and their specific banking needs, while accommodating our clients and providing them high-quality, low stress, and personally tailored banking and financial services. Please visit www.cwbk.com to learn more about the bank.

Forward-Looking Statements

Certain matters discussed in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, and are subject to the safe harbors created by the act. These forward-looking statements refer to the Company's current expectations regarding future operating results, and growth in loans, deposits, and assets. These forward-looking statements are subject to certain risks and uncertainties that could cause the actual results, performance, or achievements to differ materially from those expressed, suggested, or implied by the forward-looking statements. These risks and uncertainties include, but are not limited to (1) the impact of changes in interest rates, a decline in economic conditions, and increased competition by financial service providers on the Company's results of operation, (2) the Company's ability to continue its internal growth rate, (3) the Company's ability to build net interest spread, (4) the quality of the Company's earning assets, and (5) governmental regulations.

Contact Information

  • Bank Contact:
    CommerceWest Bank, N.A.
    Adrian S. Darmawan
    Telephone: (949) 251-6959
    Fax: (949) 251-6957
    E-mail: Email Contact