Golden State Bank
In Update, Golden State Bank Announced Glendale Office Opening Soon at 500 North Brand Boulevard
UPLAND, Calif.,–Golden State Bank made an announcement Thursday about the significant amount of progress it has made since its recapitalization transaction of February, 2014, as well as the impending opening of an office in Glendale at 500 North Brand Boulevard.
As previously announced, the Bank completed an offering in February, 2014 raising $10.3 million in new capital. An additional $1.8 million was raised in January of this year. The proceeds from these offerings not only strengthened the Bank’s capital position but were used to generate a significant amount of growth in new business in its existing markets, increase business lending, expand its presence in surrounding markets and open the Glendale branch. With this new capital and deposit growth, the Bank has ample liquidity for further growth for the rest of this year and 2016.
Tom Byington, President and Chief Executive Officer, commented: “We are looking forward to the opening of our Glendale office and the new clients and business that we will attract from our new location. I want to emphasize again that we are very much committed to our two existing regional offices in Upland and Brea where we just completed a successful deposit campaign. Over the last 18 months, our regulatory standing has improved significantly and I am very optimistic about our future prospects. Our balance sheet strength coupled with increasing quality loan demand from a sustained improvement in economic conditions in our markets will result in continued balance sheet growth and accomplish sustained profitability.â€
