Quarterly Finacncial Press Releases: Second Quarter 2006
WCB
21550 Oxnard Street, Suite 100
Woodland Hills, CA 91367
Contact: Carl Raggio
President & Chief Executive Officer
(818) 449-7711
WCB Announces 2nd Quarter Results
Woodland Hills, Calif., July 19, 2006 – WCB (stock symbol: WCBC), a new independent community business bank, located at 21550 Oxnard Street, Suite 100, Woodland Hills, California, announced its financial results for the quarter ending June 30, 2006. As of June 30, 2006, total assets were $14,986,000 including $7,007,000 in gross loans, and total deposits were $3,261,000. The net loss for the 5 months of operations (including organizational costs) was $2,190,000 which is in line with expectations.
Carl W. Raggio, III, President and CEO, said “I am pleased with the Bank’s growth for the first five months of operations. Our loan growth has been strong and we see this continuing in the near future. Both our deposit and loan prospect pipelines remain strong as we continue to focus our business on real estate and business clients.”
The Bank offers a comprehensive selection of deposit and loan products, cash management services as well as SBA-guaranteed loans.
The Bank, which opened for business on February 6, 2006, provides financial services to small and mid-sized businesses, entrepreneurs and professionals in the San Fernando Valley, with special expertise in commercial real estate finance.
Regular office hours are Monday through Friday, 9:00 a.m. until 4:00 p.m.
Information on the Bank’s services is available by calling (818) 449-7700 and online at www.westerncommercialbank.com. Information on the Bank’s stock may be obtained from Rick Levenson of Western Financial Corporation at (619) 544-0260.
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