SOURCE: Pacific Commerce Bank
LOS ANGELES, CA--(Marketwired - Jan 2, 2014) - Pacific Commerce Bank (OTCQB: PFCI) (OTCBB: PFCI) today reported that on Tuesday, December 31, 2013 it opened a new, full-service branch in San Diego County. The new branch is a key part of the Bank's overall organic growth strategy. Located in the Del Mar Heights area of San Diego County, this new location will offer a full range of depository and lending products and services, including treasury management and SBA loans.
"The opening of our San Diego branch is yet another step on the path towards full implementation of our strategic plan to grow organically in the markets we serve throughout Southern California and will complement the Bank's acquisition strategy as well. With fewer and fewer community banks in San Diego, this market represents an excellent opportunity for growth for Pacific Commerce Bank," said President and CEO, Scott Andrews.
"The expansion of our branch network, and the growth and profitability it will create, demonstrates Pacific Commerce Bank's Board of Directors' focused attention to building shareholder value of this exceptionally well capitalized institution," commented Chairman Thomas Iino.
The new branch is located at 12730 High Bluff Drive, Suite 180, San Diego and is open from 9:00 - 3:00 Monday thru Friday, or by appointment before or after hours.
About Pacific Commerce Bank
Established in 2002, Pacific Commerce Bank is a business-focused community bank with offices in downtown Los Angeles, West Los Angeles and San Diego. Further information about the Bank can be found on its website: www.pacificcommercebank.com
Forward Looking Information
The financial information in this press release is based on unaudited financial results. Certain statements in this press release are "forward-looking" statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Such forward-looking statements are subject to risks and uncertainties and therefore the bank's actual results may differ materially from those expressed or implied by such forward-looking statements. The risks and uncertainties that the bank is subject to include, but are not limited to, risks related to the local and national economy, including fluctuations in interest rates and costs and changes in economic policy; the ability of the bank to perform in accordance with its plans; competition; and regulatory matters. The bank cautions readers not to place undue reliance on any forward-looking statements. The bank does not undertake, and specifically disclaims any obligation, to revise any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.