San Diego Private Bank Reports First Quarter Earnings

CORONADO, CA--(Marketwired - May 1, 2014) - San Diego Private Bank (OTCQB: SDPB) today announced the bank's condition and results of operations for the first quarter 2014. Coronado First Bank and San Diego Private Bank merged on April 2, 2013. Based on unaudited financial results for the quarter ended March 31, 2014, San Diego Private Bank reported net profit of $473,000 for the quarter, up from pre-merger quarter ended March 31, 2013 of $333,000.

As of March 31, 2014 total assets were $342.8 million, an increase of 5.4% over the prior quarter and 203.3% over the prior year. Total deposits were up 6.0% to $279.3 million for the quarter and 217.9% over the prior year. Shareholder Equity was $49.2 million. The bank maintained very strong capital ratios, finishing the quarter with a Tier 1 Leverage Capital Ratio of 14.0% and a Total Risk Weighted Capital Ratio of 18.0%. Net Interest Margin for the quarter was 4.13%.

Maria P. Kunac, President and Chief Executive Officer of San Diego Private Bank, stated, "We experienced solid growth in loans and deposits again during this quarter and continued to gain the benefits of merger integration efficiencies. Credit quality remained excellent and capital ratios remained well above all regulatory well-capitalized measures."

"Our focus remains providing a Distinctly Different banking experience through unparalleled service and creative funding solutions to individuals and businesses with complex financial needs. The Bank's Private Banking group services high net worth individuals and small businesses. Our real estate lending group specializes in investor commercial properties, owner occupied buildings and construction loans. We also provide commercial loans through various portfolio and government-guaranteed programs. This year the Bank added cross-border lending capabilities under the Export-Import Bank guarantee program," Ms. Kunac added.

San Diego Private Bank is publicly traded on the Over-the Counter Bulletin Board (OTCQB) under the ticker symbol "SDPB," with total shares outstanding of 4,085,634.

This press release may include forward looking statements that involve inherent risks and uncertainties. San Diego Private Bank cautions readers that a number of important factors could cause actual results to differ materially from those in the forward‐looking statements. These factors include economic conditions and competition in the geographic and business areas in which San Diego Private Bank operates, our ability to successfully integrate the operations of merged banks, inflation, fluctuations in interest rates, legislation and governmental regulation. You should not place undue reliance on forward‐looking statements and we undertake no obligation to update those statements whether as a result of changes in underlying factors, new information, future events or otherwise.