SOURCE: Desert Community Bank

June 22, 2005 12:24 ET

Victorville Housing Market Buoys Desert Community Bank's Future

VICTORVILLE, CA -- (MARKET WIRE) -- June 22, 2005 -- The investment community has recently expressed concern regarding the prospects of the housing bubble bursting. This has prompted many investors to suspect that small banks will suffer a decline in lending activity and perhaps an increase in loan losses.

Desert Community Bank (NASDAQ: DCBK) is located in the High Desert region of Southern California. The home office is Victorville, a city on Interstate 15, the road from Los Angeles to Las Vegas.

Victorville is a city with a population of 80,000 plus. It is contiguous with Hesperia and Apple Valley, which each have approximately 80,000 population as well. The Bank also serves the mountain community of Wrightwood, an ever-expanding community known as Adelanto and a famous stop on Interstate 15 known as Barstow.

Recent reports in the Daily Press reflect the reason that Bank Management is encouraged about future prospects. The affordability index in the High Desert is much higher than the average in California. The index in the High Desert is 52% while it is only 17% throughout the State and below 10% in markets close to the High Desert proximity.

Bank Chairman/President/CEO, Ronald L. Wilson, said, "DCB serves a vibrant community with great opportunities for the future. Southern California Logistics Airport holds the prospect of many new jobs. Major companies have located to our community to build distribution centers, thereby providing thousands of jobs. One builder is considering the possibility of constructing 1,500 homes per year. DCB is presently managing 570 construction projects, the most in the Bank's 25-year history."

DCB is traded on NASDAQ under the symbol DCBK. Mr. Wilson may be contacted by e-mail at rwilson@dcbk.org.

Contact Information

  • Contact:
    Ronald L. Wilson
    President/Chairman/CEO
    (760) 243-2140 ext. 1001
    Email Contact