Bank reports 2011 earnings of $1.1 million

Bank of Southern California, with offices in Ramona, announces a net income of $1.1 million in 2011, compared to a net loss of $0.7 million in 2010.

“We are extremely pleased by the bank’s earnings performance last year,” said Nathan Rogge, president and chief executive officer. “Careful management of the bank’s operations and continued progress on our strategic plan combined to produce strong momentum that we expect to continue in 2012.”

Rogge noted that the bank has consistently grown each year. The bank’s loan portfolio has grown from just over $32 million in 2006 to over $146 million at year end 2011, most of which are loans made to small businesses.

“During 2011 we also were recognized as a leading originator of SBA 504 and SBA 7(a) loans,” said Rogge. “These popular loan programs help small businesses get the funds they need more easily and provide more flexible terms than conventional loan options.”

The bank has an experienced and talented banking team that continues to focus on building long-term customer relationships, Rogge said, adding, “The bank is positioned for continued profitable growth as the regional economy continues to improve.”

Established in 2001, Bank of Southern California, N.A., a national bank with headquarters in San Diego, is locally owned and managed.

It focuses on meeting the unique business, professional and personal banking needs of the Southern California communities it serves.

It has six offices in San Diego County and the Palm Springs area.

In Ramona, Bank of Southern California is at 1315 Main St.

For more information, visit www.banksocal.com.

may be contacted at 760-788-8788 and is open weekdays from 9 a.m. to 5 p.m.

For more information, visit www.banksocal.com or call 858-847-4780.

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Posted by Staff on Feb 19 2012. Filed under Business, Business Briefs. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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