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The landscape of the San Diego community banking scene continues to evolve. New banks continue to be formed, while others are acquired or merged into larger entities. Amidst all the noise and rhetoric, and despite the highly competitive nature of the San Diego marketplace, one bank in particular continues to outperform - San Diego Trust.

San Diego Trust Bank opened its doors a little less than four years ago following the most successful initial public offering of any bank in San Diego's history and has never looked back. Today the bank reports assets near the $100 million mark, turned profitable after just three full quarters of operations, and has reached a level of profitability seldom ever realized by community banks at this stage in their development.

This unrivaled success on the earnings front enabled the bank to successfully recover all of its organizational expenses and initial operating losses prior to the end of its third full year, a feat no other independent community bank in San Diego has accomplished in recent history. In the middle of its fourth year now, the bank continues to post record profits each and every quarter, despite a moderating economy, slowing housing market and increasing pressure on margins.

The company's unprecedented performance has not gone unnoticed by industry analysts or the investment community. Earlier this year, the bank was designated as a "Premier Performing Bank" by the Findley Reports, one of the most widely respected, national bank research and rating firms. This particular rating is the highest possible designation awarded to banks less than five years old and is rarely bestowed upon a bank at this juncture.

The company's consistent earnings and strong capital position have also enabled it to capitalize on the recent consolidation within the San Diego banking industry. Just last month, the bank announced a major expansion into North County with the opening of its Encinitas Regional Banking Center, slated for late September.

Mary Purviance, one of the most respected and well-known bankers in North County, will lead the company's efforts in the region. Purviance, a resident of Encinitas, has personally served the needs of that market and surrounding communities for more than 33 years. Collectively, Purviance and her team have more than 100 years of experience in fulfilling the needs of the North County market. Most recently, Purviance was manager of Southwest Community Bank's Encinitas Office, which she opened more than 10 years ago. Southwest Community Bank and its parent company were recently acquired by Wells Fargo Bank in June of this year.

"We've strategically positioned the bank to succeed in a variety of economic environments and our disciplined approach has enabled the bank to continue to prosper, irrespective of the turmoil in the broader financial markets," commented Michael Perry, chairman, president and CEO. "We remain true to our original strategic plan and thank our loyal shareholders and valued clients who have contributed immensely to our success," he concluded. Submitted by San Diego Trust Bank

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