1st Pacific Bank's aim is to be recognized as the leading local business bank in San Diego, and for President and Chief Executive Officer Vincent Siciliano that means solid relationship banking.
He believes there is still a gap in the market for bankers who fully understand the needs of small and mid-market businesses. According to 1st Pacific, customers should expect bankers to know their financial information by heart, know key executives and know the market they operate in.
Siciliano says his bankers know that sort of information about their clients and more: "They need to understand what makes this company successful."
It is important to move to a "relationship phase with people" where they are "not a commodity," Siciliano says.
He estimates nearly a 100 percent retention rate of clients, for which he credits the company's operating philosophy. At its bedrock is the view that "people and values will produce excellent results for stakeholders."