LA JOLLA, Calif., Sept. 12, 2018 (GLOBE NEWSWIRE) -- Private Bancorp of America, Inc. (OTCQX:PBAM) Private Bancorp of America, Inc. announced that its wholly owned subsidiary CalPrivate Bank, “Bank” has received approval, effective September 12, 2018 to open a new branch in the South Bay of Los Angeles.
The Branch will be located at 2321 Rosecrans Avenue, El Segundo, CA. Opening of the branch is anticipated to occur in the fourth quarter of 2018.
The new branch will be the Bank’s sixth, joining locations in Coronado, San Diego, La Jolla, Newport Beach and Beverly Hills.
“We are excited about expanding our presence in this vibrant market. The expansion is consistent with the commitment to our Coastal Southern California service area,” Thomas V. Wornham, President & CEO of PBAM said.
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 a 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 CEO of CalPrivate Bank
(858) 875.6900
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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.