Monthly Archives: September 2012
When Grandpoint Bank opened a new office in the South Bay region of Los Angeles In December 2010, the only thing really “new” was the space itself.
“This was like coming home for us,” explains EVP and Regional Banking Manager John Nixon, a seasoned commercial banker who was hired in 2010 to establish Grandpoint’s presence in the South Bay region, an area in which he has spent much of his career. “This was where Don [Griffith, Grandpoint CEO] and Debbie [Marsten, Grandpoint COO] spent many years in the banking business. It’s a market we know extremely well. So it was a natural fit.”
The South Bay office also reunited a banking team that has known each other for decades. Some, like Ed Myska and Mari Peters, have worked in the South Bay as colleagues for more than 20 years. Many, including Marcella Lopez, Tiffany Clyne, Didie Kairin, Gaby Inninger and Carol Solis, worked together at a Manhattan Beach-based bank previously run by Don and Debbie, and others have crossed paths at local banks throughout their careers. “There’s a lot of history here,” says John. “We work well together because of that familiarity.”
That continuity and camaraderie pays off in satisfied clients who have helped grow the office to more than $110 million in combined loans and deposits since the doors opened. “Ultimately, it all comes down to people and the attention you pay to your clients,” says John. “Our relationship managers – Ed, Mari, Tiffany, and Lyn Caron – have incredibly loyal clients for good reason. And our operations team is so seasoned, they make sure everyone is well cared for.” Since the office has its own underwriting staff, loans are reviewed quickly and with an understanding built on first-hand market knowledge.
The region has a unique industry mix, well suited to benefit from Grandpoint’s business banking expertise. “On the one hand, you’ve got technology companies, real estate interests and a lot of professional’s right here, and then some gritty industrial businesses not too far away.” The office serves the coastal communities of El Segundo, Marina del Rey, Manhattan Beach, Hermosa Beach, Redondo Beach and Gardena. “But,” John stresses, “We’ll go wherever the clients need us.”
Grandpoint Bank’s story began in late 2008 when a group of entrepreneurial Southern California bankers joined together to create a new bank. At a time when many banks were facing constraints in the midst of a sluggish economy, the founders of Grandpoint Bank saw the opportunity to put their experience and capital to work by helping creditworthy businesses and their owners, entrepreneurs and professionals grow and prosper. To finance the new enterprise, Grandpoint Capital, Inc., a bank holding company, was created and successfully raised $338 million in committed capital, demonstrating the confidence of investors in the Bank’s leadership team and vision.
Grandpoint Bank, a wholly owned subsidiary of Grandpoint Capital, was launched in June 2010 when Grandpoint Capital acquired Santa Ana Business Bank, with an initial capital investment of $75 million, and converted it to Grandpoint Bank. Grandpoint Bank entered the market with a clean balance sheet and substantial capital.
Over the course of the past two years, we have built the bank through internal growth and mergers with other well-managed community banks that shared our business banking focus and consultative approach to client relationships. Our acquisitions include First Commerce Bank, with offices in the San Fernando Valley and West Los Angeles; and Orange Community Bank, with offices in Orange County. At June 30, 2012, Grandpoint Bank had total assets of $857 million with seven banking offices and one loan production office. Our capital strength remains rock solid with a Total Risk-Based Capital Ratio of 15.4 percent, far exceeding the level considered “well capitalized” by bank regulators.
Grandpoint Bank is part of a larger family of banks that includes Grandpoint Capital subsidiaries Regents Bank, with four offices in San Diego County and one in Vancouver, Wash., and Bank of Tucson, which operates two offices in Tucson, Ariz.