LA JOLLA, Calif., May 18, 2018 (GLOBE NEWSWIRE) -- Private Bancorp of America, Inc. (OTCQX:PBAM)
Thomas V. Wornham, President and CEO of Private Bancorp of America, Inc. (PBAM) announced that its Bank subsidiary has added two veteran SBA teams to complete the build out of CalPrivate Bank’s Private Business Capital division. “We are pleased that we were able to put these talented people together, at a critical time in the execution of our organic growth strategy. Each of these new team members are market veterans who will help us better serve our Coastal Southern California markets. The Private Business Capital division will report to Rick L. Sowers, President of CalPrivate Bank.”
Mr. Sowers said, “We have committed significant resources to this business segment. We have a veteran team that we are confident will help us meet the community’s needs and deliver a consistent revenue stream to the Bank. Many of these new Team Members have worked together in the past and all have outstanding reputations in the industry. We continue to focus on building our core business and we are excited about these new teams.”
The Private Business Capital Team will be working under CalPrivate Bank’s SBA Preferred Lender status. This investment is in line with those PBAM has been discussing over the past six quarters.
About Private Bancorp of America, Inc.
Private Bancorp of America, Inc. (OTCQX:PBAM), is the holding company for CalPrivate Bank. CalPrivate Bank provides a Distinctly Different banking experience through unparalleled service and creative funding solutions to high net worth individuals, professionals, locally owned businesses and real estate entrepreneurs. Customers are serviced through offices in Coronado, San Diego, La Jolla, Newport Beach and Beverly Hills as well as efficient electronic banking offerings. The Bank also offers various portfolio and government guaranteed lending programs, including SBA and cross-border Export-Import Bank programs. CalPrivate Bank is an SBA Preferred Lender and a Bauer Financial 5 star rated bank, as well as being in the Top 200 safest banks as rated by Deposits.com.
Investor Relations Contact
Thomas V. Wornham
President/CEO
Private Bancorp of America, Inc. and CalPrivate Bank
(858) 875.6900
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This press release includes forward-looking statements that involve inherent risks and uncertainties. Private Bancorp of America, Inc. 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 Private Bancorp of America, Inc. operates, our ability to successfully integrate and develop business through the addition of new personnel and facilities and merged banks, whether our efforts to expand loan, product and service offerings will prove profitable, the effects of the bank mergers and acquisitions in our markets, system failures and internet security, 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.
