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San Diego Trust Bank Continues to Post Record Results

^{Published on 2011-07-19 06:16:02 - Market Wire}
 

SAN DIEGO--([ BUSINESS WIRE ])--San Diego Trust Bank (OTC: SDBK) one of the most consistently profitable banks in the State, reported its 27th consecutive quarterly profit with year-to-date earnings up 40% from the comparable period of a year ago. Net earnings after-tax for the six months ending 6/30/11 totaled $569 thousand compared to $408 thousand for the same period last year. Net Income for the second quarter of 2011 totaled $267 thousand compared to $226 thousand for the same period last year. The Banka™s earnings were 100% acore earningsa and did not include the release of any loan loss reserves back into income.

"Our consistent profitability, exceptionally strong capital position, and substantial liquidity allows us to meet the needs of our clients while also increasing valuable market share as other community banks are merged out of existence"

Total Assets reached $201.9 million as of 6/30/11 compared to $172.4 million as of 6/30/10, representing a 17% increase from the prior yeara™s figures, as more and more San Diegana™s sought to align themselves with one of the most well-capitalized and consistently profitable banks in all of California. Total Deposits increased 19% from a year ago and stood at $171.3 million as of 6/30/11, compared to $143.4 million as of 6/30/10. Core deposits (non-interest bearing DDA and MM accounts) represented 92% of all deposits as of 6/30/11. The Bank has never held any abrokereda deposits.

aWe are delighted to once again report such strong results to our loyal shareholders, despite the many economic headwinds that continue to plague our local and state economies,a commented Michael Perry, Chairman, President and CEO. aThe tremendous efforts of our entire team combined with our proven ability to adapt to ever-changing market conditions, has enabled our organization to continue to prosper in spite of the lackluster economic environment,a added Perry. aOur consistent profitability, exceptionally strong capital position, and substantial liquidity allows us to meet the needs of our clients while also increasing valuable market share as other community banks are merged out of existence,a concluded Perry.

The Banka™s consistently strong performance has not gone unnoticed. Earlier in the year, The Findley Reports, one of the most respected and well known bank research and rating firms, designated San Diego Trust Bank a aPremier Performing Banka based on its analysis of 2010 financial results. This rating places San Diego Trust amongst the very best in its industry relative to asafety, strength, and performancea according to Findley. This past month, San Diego Trust Bank was recognized as one of the ten aBest Small Companya™sa to work for in San Diego County by the San Diego Business Journal.And for the 20^th consecutive quarter,San Diego Trust Bank was designated as a aFive-Stara institution by Bauer Financial - a feat unmatched by any other Bank in San Diego County.

Asset quality at the Bank remains exceptional with zero past due or non-accrual loans reported as of June 30, 2011. Liquidity, defined as cash, due from banks, and investment securities, was a record $152.9 Million as of 6/30/11.

As of June 30, 2011 the Banka™s Total Risk Based Capital ratio of 26.41% was among the highest in the nation for banks of similar size, and more than twice the amount needed to be considered awell-capitalizeda by regulatory definition. San Diego Trust Bank has never applied for any tax-payer funded government assistance.

The Banka™s actual capital ratios as of June 30, 2011 are summarized as follows:

Founded by several of San Diegoa™s most respected banking veterans and business leaders, San Diego Trust Bank is dedicated to the timeless principles of superior local market knowledge, unparalleled service, and building exceptional shareholder value. With over four hundred years of experience in banking San Diegans, timely local decision making, and one of the most comprehensive product lines found in the market today, San Diego Trust Bank delivers aPerformance You Can Trust.a

San Diego Trust Bank common stock is traded on the Over-the-Counter Exchange under the symbol aSDBKa. For information on the companya™s stock please contact our primary market maker, Mr. Richard Levenson, President of Western Financial Corporation at (619) 544-0260.

For more information on the Bank please visit [ www.sandiegotrust.com ] or call (619) 525-1700.

For bank rating information please refer to [ www.bauerfinancial.com ]

FORWARD LOOKING STATEMENTS

Statements concerning future performance, developments or events, expectations for growth and income forecasts, and any other guidance on future periods, constitute forward-looking statements that are subject to a number of risks and uncertainties. Actual results may differ materially from stated expectations. Specific factors include, but are not limited to, loan production, balance sheet management, expanded net interest margin, the ability to control costs and expenses, interest rate changes and financial policies of the United States government and general economic conditions. The Bank disclaims any obligation to update any such factors or to publicly announce the results of any revisions to any forward-looking statements contained herein to reflect future events or developments.