With the opening of two new branches in Mira Mesa and Oceanside, San Diego National Bank (SDNB) has continued its county-wide expansion to grow into the largest locally headquartered bank in our region.
These additions give SDNB a total of 21 branches throughout the county. The bank has added eight new branches since 2000. During that time, its assets have nearly doubled, climbing more than $1 billion to $2.3 billion.
"This increase of assets for SDNB is an exceptional pace for us," said Robert Horsman, president and CEO of SDNB. "In our first 20 years, we increased our asset base from zero to just more than $1 billion. That we have doubled that figure in the last five years is indicative of the growth all over San Diego County."
SDNB serves all of the county's sub-markets. Its growth strategy has been to locate new branches in thriving communities that have strong needs for construction and business loans. SDNB also opens branches in areas that need a community-oriented bank offering consumer loans and traditional deposit products.
"This has been a busy month for us, opening two new branches in highly populated areas of San Diego County," Horsman said. "We are looking forward not only to bringing community banking back to Mira Mesa, but introducing our bank and services to a new and thriving area of Oceanside as well."
The Oceanside branch, on Old Grove Road off Highway 76, officially opened on Sept. 19, while the Mira Mesa branch, near the corner of Mira Mesa Boulevard and Westview Parkway, opened Sept. 5. With the opening of the Mira Mesa branch, SDNB is the first local community bank to move into Mira Mesa since 1994.
"Opening a branch in Mira Mesa will provide residents and businesses the benefits of local decision making and personal service," Horsman said. "Obviously there's a market in the area. We see our core customer as someone who is looking for the services that only community banks are committed to providing."
Banks stay healthy during expansion by making loans in growing markets, attracting deposits in strong business and residential areas and providing superior services.
SDNB considers several factors when determining the markets in which to expand. Oceanside satisfies all the categories, including current and projected population growth, demographics of the residents and employment opportunities today and in the future.
"When you look at all the areas of San Diego County, Oceanside's growth and potential are almost unmatched," Horsman added. "We feel there are a lot of opportunities in the county as a whole, especially the ever-growing North County region. We look for sites that provide high visibility, easy access and a good mix of retail and commercial components. Our Oceanside branch location is a perfect location."
SDNB now has 21 branches throughout the county. In addition to the recent September openings, SDNB has opened branches in Rancho San Diego and Vista over the last year.
"We will continue to look at expanding sub-markets within San Diego County," Horsman said. "At the same time, it is imperative that we concentrate our efforts in our current locations to maintain our superior quality of customer service and ensure that we have a healthy balance of loans and deposits. Above all else we want to keep our competitive edge in providing exceptional customer service."
The largest community bank in the region, SDNB has more than $2.3 billion in total assets and is a well-capitalized financial institution.
In addition to opening the Mira Mesa and Oceanside offices, the Bank operates 19 other branches.
Cruz is an account coordinator for Marston and Marston