About Us
Bank of Escondido has completed its third full year of operation, exceeding our earnings goals by 20 percent. Recently, our shareholders also received a significant return on their investment by accepting a share exchange for Capitol Bancorp stock.
Our success is a direct result of our ability to attract top-notch bankers who are successful in their areas of expertise. We develop new business through our networking and relationship style of banking. Several of our officers have worked together for more than 20 years, reflecting the value of the teamwork approach to accomplishing our goals. We have enhanced our management team while also providing professional development opportunities for several key employees.
We continue to improve client services by expanding cash management, Internet banking and bill pay, as well as the launch of our full-service Small Business Administration (SBA) loan department. Construction lending remains a good market for us and we continue to gain market share in commercial and business lending.
Located in the economic center of Escondido, Bank of Escondido has been instrumental in the success of the Downtown Business Association (DBA), a non-profit organization focused on the developing the downtown area. I serve on the DBA board and chair its Economic Development Committee. This organization has had a direct impact on making the downtown area a better place to work, be entertained and conduct business.
Bank of Escondido is a proud sponsor of "Cruisin' Grand," a weekly event that brings classic cars and car enthusiasts to downtown Escondido. This event attracts more than 5,000 people to the downtown business district every Friday night from April through September. In addition to benefiting Escondido businesses, Cruisin' Grand provides great exposure for the bank, as our downtown location is on Grand Avenue at a prime intersection.
We proudly give back to our community through employee involvement in charitable organizations. For example, we are very active with the Escondido Boys & Girls Club, contributing both time and financial assistance to successful events that raised more than $250,000 in donations each year. Another rewarding experience for bank employees this past year was purchasing and delivering Thanksgiving meals to shut-ins throughout our community.
The future remains bright for Bank of Escondido as we capitalize on business development opportunities. We are building our bank through a serious commitment to our community and significant relationships with entrepreneurs and consumers.
Michael R. Peters, President & CEO
