First and foremost I am pleased to announce the appointment of Chris Walsh as President of Partners Bank of California. Chris comes to Partners Bank with over 30 years of experience in banking leadership and business development. We are truly fortunate to attract a talented individual with a proven track record in all facets of banking. Chris will be instrumental in helping us achieve the goals of our strategic plan for organic and responsible growth of the bank.
In the first 6 months of 2018 assets grew by $15 million dollars to a historical high of $213.8 million representing an 8% increase over year end 2017. More significantly our risk based capital increased by $4.3 million to $29.1 million representing a 17% increase over year end 2017. The increase was attributable to the recent capital campaign and the bank’s earnings year to date in 2018; and it has positively impacted our Legal Lending Limits thereby providing us the opportunity to finance larger projects for our borrowers. As Partners Bank grows, we continue to find more ways to serve more businesses.
The SBA Division will be celebrating its one year anniversary with Partners Bank at the time of this publication. We are delighted to report that the SBA Division, managed by Jeff Redeker and his team members Bri Alvarez and Marissa McConnell, have exceeded their budgeted goals through 6-30-2018. The team has significantly contributed to the bank’s commitment of serving small to medium business owners in Los Angeles and Orange County.
Our people at Partners Bank continue to make a difference – for the bank and most importantly, for our clients. An example of that can be found in Becky Edson, Loan Operations & Servicing Manager. For the second time, Becky was recently recognized as our Connect with Success Award recipient. Always going the extra mile and finding a solution for our client’s needs no matter what, Becky epitomizes the spirit of Partners Bank of California…A spirit that you will find in everyone on our team. Congratulations Becky and thank you!
As a Partners Bank client or shareholder…or both, your success is our success. We remain dedicated to working together, combining our passion, knowledge, experience and expertise to deliver superior banking services that business leaders want and need…enhancing shareholder value all along the way. This is an exciting time for Partners Bank, as we continue to pave the way for continued growth and expansion. We’re thankful to our clients and shareholders who have steadfastly supported us with their business and trust. Partners Bank of California…Connect with Success!