CalPrivate Bank Company Profile
Background
Overview
CalPrivate Bank, established in 2006 and headquartered in La Jolla, California, operates as a subsidiary of Private Bancorp of America, Inc. The bank is dedicated to delivering a "Distinctly Different" banking experience through unparalleled service and innovative financial solutions tailored to individuals and businesses with complex financial needs. Its divisions include Coronado, San Diego, La Jolla, Newport Beach, Beverly Hills, and Private Business Capital.
Mission and Vision
CalPrivate Bank aims to provide customized financial solutions, emphasizing personalized service and creative funding strategies. The bank focuses on building enduring relationships with high-net-worth individuals, professionals, locally owned businesses, and real estate entrepreneurs.
Industry Significance
As a community-focused financial institution, CalPrivate Bank has carved a niche in the banking industry by offering specialized services that cater to the unique needs of its clientele. Its commitment to excellence and innovation has earned it recognition, including being ranked as the 10th best bank in the U.S. by Bank Director's RankingBanking® in 2024.
Key Strategic Focus
Core Objectives
CalPrivate Bank's strategic focus centers on delivering personalized banking experiences, leveraging cutting-edge technology, and providing creative funding solutions. The bank aims to support high-net-worth individuals and businesses with complex financial needs through a comprehensive suite of modern financial services.
Areas of Specialization
- Private Banking Services: Tailored financial solutions for high-net-worth individuals and businesses of all sizes.
- Real Estate Lending: Specialization in investor commercial properties, owner-occupied buildings, and construction loans.
- Commercial Loans: Offering various portfolio and government-guaranteed programs, including SBA and cross-border Export-Import Bank programs.
Key Technologies Utilized
CalPrivate Bank employs a range of technologies to enhance its service offerings, including:
- Certent for accounting and finance operations.
- WP Rocket to optimize website performance.
- Indeed for human resource management.
- TweenMax and amCharts for dynamic web content and data visualization.
- jQuery UI and Bootstrap to enhance user interface and experience.
Primary Markets Targeted
While rooted in Southern California, CalPrivate Bank has expanded its lending footprint across the Western United States, with a strong presence in California, Nevada, Arizona, and Texas. The bank focuses on sectors requiring significant capital investments, such as real estate, hospitality, healthcare, and professional services.
Financials and Funding
Funding History
As a subsidiary of Private Bancorp of America, Inc., CalPrivate Bank benefits from the financial backing of its parent company. In January 2020, the bank made a $250,000 Class A equity investment in Clearinghouse Community Development Financial Institution (Clearinghouse CDFI), reflecting its commitment to community development.
Financial Performance
As of Q4 2024, CalPrivate Bank reported:
- Total Assets: $2.42 billion
- Total Loans: $2.06 billion
- Total Deposits: $2.14 billion
- Equity Capital: $237.9 million
- Return on Assets (ROA): 1.63%
- Return on Equity (ROE): 17.09%
- Texas Ratio: 1.03%, indicating exceptional loan portfolio health.
Leadership Team
Executive Profiles
- Rick Sowers: President and Chief Executive Officer of Private Bancorp of America, Inc. and CalPrivate Bank. Under his leadership, the bank has achieved significant growth and recognition in the industry.
- Cory D. Stewart: Executive Vice President and Chief Financial Officer, appointed on January 4, 2023. Stewart brings extensive experience in financial management and strategic planning.
- Kevin "KC" Campbell: Executive Vice President and Chief Banking Officer for Los Angeles and Orange Counties, joined in November 2020. Campbell has over 30 years of experience in financial services, focusing on relationship banking and market growth.
- Vincent Vanacore: Senior Vice President and Market Manager for the South Bay Los Angeles region, also joined in November 2020. Vanacore specializes in market development and client relationship management.
Competitor Profile
Market Insights and Dynamics
The banking industry, particularly in California, is highly competitive, with numerous institutions vying for market share. CalPrivate Bank's focus on personalized service and specialized financial solutions positions it uniquely within this landscape.
Competitor Analysis
Key competitors include:
- Citizens Business Bank: Offers a range of financial services to businesses and individuals, with a strong presence in California.
- Pacific Premier Bank: Provides comprehensive banking services, focusing on commercial banking and real estate lending.
- California Bank & Trust: A full-service bank offering personal and business banking solutions, with a significant footprint.
