"One of the first questions I ask a prospective client is, 'Who's your banker?' It's amazing to me that so many people respond with the name of their bank as they don't have a banker. That tells me there's an opportunity to add some value," said Horsman, San Diego Market Executive for Carmel Valley-based Torrey Pines Bank.
Horsman joined Torrey Pines Bank a year ago with more than three decades of local banking experience and community involvement. His new role is deeply committed to customer development and retention, as well as community involvement, many of the same traits that helped shape his career. He was a founder of San Diego National Bank in 1981, and during his 28-year tenure served as a director, president and CEO. He's long been an active volunteer as trustee of the San Diego Zoo and board member of the San Diego Regional Chamber of Commerce and San Diego Opera, where he served as president from 2008-09 and is helping steer the Opera through its possible reorganization.
Working with small businesses is a major initiative for the bank. One of its most active programs is funding Small Business Administration (SBA) 504 loans for commercial property owner/users. Created specifically for financing fixed assets, SBA 504 is a long-term loan. The SBA has ranked Torrey Pines Bank as the No. 1 SBA 504 lender in San Diego County for the past eight years, Horsman said.
In the first quarter of 2014, the bank funded $11.5 million in SBA 504 real estate for owner-users and $44 million in commercial and industrial loans. These figures may be a signal of increasing confidence from businesses, which are investing in their operation and/or improving cash flow to manage increasing receivables, the bank said in a statement.
"From a business lending standpoint, I think the timing is really good for small businesses and professionals to look at borrowing because rates continue to hold historically low, and from everything I see it looks like the economic picture is starting to improve," Horsman said.
"Right now we see a lot of business owners and professionals are starting to take advantage of these positive economic times. Many of them need to borrow for working capital or term loans. They're looking at opportunities now. Torrey Pines Bank is committed to partnering with these businesses.
"Or maybe it's closely held by a proprietor or a family, and they need a line of credit or term loans for business expansion, equipment, financing for account receivables. They may have real estate or want to buy real estate.
"The thing about Torrey Pines Bank is, we are local bankers and the executive team has done a great job reaching out to and hiring local bankers. The growth of this bank has been organic. It hasn't been through acquisition, it's been through hiring local bankers who have a following and know their community. That's a real advantage when you're looking for new opportunities."
Torrey Pines Bank, owned by Phoenix-based Western Alliance Bancorp, has $1.95 billion in assets, 11 branches and 235 employees in California. Horsman found the bank and its leadership team to be a good fit for his professional and personal styles. "I joined Torrey Pines Bank because of their reputation of service, their responsiveness with customers and their commitment to the community," he said. "This really aligns with my ethos and business pursuits."
12220 El Camino Real, Suite 220 | San Diego, CA 92130 | 858-523-4644 | www.torreypinesbank.com
4350 Executive Dr. Ste., 130
San Diego, CA 92121
Feb. 4, 2013 -- Doug Sherwin speaks with Teofla Rich, senior vice president and head of private banking at Torrey Pines Bank, about the recent consolidation in community banking, and how the third largest locally based bank in San Diego has been able to survive.