TORREY PINES BANK ANNOUNCES NEW DIVISION PRESIDENT FOR SAN FRANCISCO BAY AREA
-- California community bank shows continued commitment to the Bay Area with new regional division president, drawing on successful track record and ties to the community --
OAKLAND, Calif., August 9, 2012 -Torrey Pines Bank, a leading commercial bank in California and an affiliate of Western Alliance Bancorporation, today announced Larry Fountain will join the bank as division president, San Francisco Bay Area. A native of the area, Mr. Fountain draws on 25 years of diverse commercial banking experience including senior leadership roles in commercial lending, sales, relationship management, asset-based lending and global product development. He will work out of the bank’s Oakland office and report to the CEO of the bank.
Most recently he was senior vice president at a major financial institution. He obtained his MBA in finance from Golden Gate University, a Bachelor of Science degree in agricultural economics and business management from The University of California, Davis and is a graduate of the Pacific Coast Banking School at University of Washington
Mr. Fountain’s experience and reach across the Bay Area will help to add to the bank’s broad perspective of the region, and to guide it as it further expands its footprint. He also draws on expertise in supporting privately held, public and technology companies from early to late stages with financing, product, and advisory solutions.
“We look forward to Larry Fountain joining Torrey Pines Bank and think he will be a valuable asset to our Bay Area leadership team. We remain committed to providing the highest level of business banking and personalized service. Larry’s extensive experience building successful commercial banking teams that focus on customers, penetrating markets, and developing products that address the needs of local companies looking to grow and thrive are consistent with our goals as a leading business bank,” said Gary Cady. “Hiring Larry demonstrates our commitment to the Bay Area and to providing our customers with the best resources in the market.”
In 2003, Torrey Pines Bank started with $20 million in initial capital and a single office with seven employees. Today the bank has $1.9 billion in assets, 12 full service offices (including in Los Altos, Oakland and Piedmont), one loan production office (in Walnut Creek), and 228 full-time employees. It showed continued increases in assets, loans, and deposits in the second quarter of 2012. Non-performing assets (NPAs) represent a mere 0.66% of total assets, as of the second quarter 2012. NPAs decreased from .75% in first quarter 2012 and have never exceeded 0.83% over the past six quarters, indicating a consistently strong loan portfolio. Recently, the Findley Reports rated TPB with ‘Super Premier Performance’ classification, the agency’s highest rating level, in its “Findley Reports on Financial Institutions.”
Drawing on the support of Western Alliance, a $7 billion regional bank holding company with bank operations in Arizona, California, and Nevada, Torrey Pines Bank is able to offer up to three times the FDIC insurance and commercial real estate loans three to five times higher than other community banks.
The bank plans further expansion of its team in The Bay Area.
About Torrey Pines Bank
Torrey Pines Bank is a California-chartered commercial bank, providing commercial and financial services to small and middle market businesses, and personal banking services to proprietors, employees, executives and consumers desiring a personal banking relationship. Information about products and services offered by Torrey Pines Bank is available at www.torreypinesbank.com.