LA JOLLA, Calif., May 01, 2017 (GLOBE NEWSWIRE) -- Private Bancorp of America, Inc. (the “Company”), holding company for San Diego Private Bank ( the “Bank”), is pleased to announce it begins trading on the OTCQX Best Market effective May 1, 2017. The Company had previously traded on the OTCQB Venture Market since its formation to hold the Bank in late 2015.
San Diego Private Bank serves high net worth individuals, locally-owned businesses, investors, real estate developers and SBA borrowers throughout coastal southern California. The Bank provides creative financial solutions to its clients through its San Diego Private Bank locations in La Jolla and San Diego and its Coronado Private Bank and Newport Private Bank divisions as well as the new Los Angeles Private Bank division in Beverly Hills. The Bank is also a SBA preferred lender with its Private Business Capital division focusing on SBA and other government-guaranteed programs. The Bank also offers “ONE”, a robust treasury management, online banking and mobile banking suite of products. It has maintained a Bauer’s Five-Star rating for 32 consecutive quarters.
“We are pleased to be a part of OTCQX,” said Thomas V. Wornham, President and CEO of Private Bancorp of America, Inc. “With total assets over $500 million and market capitalization over $100 million, we are excited to continue our growth trajectory on the OTCQX market. We believe the additional exposure, accessibility and liquidity that OTCQX provides will benefit investors and company as we continue to grow.”
Safe Harbor Paragraph
This press release may include 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 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.