“We are once again pleased to be able to report such results to our shareholders despite the many challenges our industry faces, including continued pressure on margins, lackluster economic growth, and the increased regulatory burden,” commented Michael Perry, Chairman, President and CEO. “We have not waivered from our original strategic plan and remain committed to responsibly building the finest community bank in San Diego. We recognize and appreciate the tremendous support so many San Diegan’s throughout the county have shown, and will continue to put forth our very best efforts on their behalf,” he concluded.
Asset quality at the Bank remains exceptional with zero past due or non-accrual loans reported as of December 31, 2012. Liquidity, defined as cash, due from banks, and investment securities, was a record $195.1 million as of December 31, 2012.
As of December 31, 2012 the Bank’s Total Risk Based Capital ratio of 29.70% was among the highest in the nation for banks of similar size, and almost three times the amount needed to be considered “well-capitalized” by regulatory definition. San Diego Trust Bank has never applied for any tax-payer funded government assistance.
The Bank’s actual capital ratios as of December 31, 2012 are summarized as follows:
San Diego Trust Bank
|Tier 1 Leverage Ratio||5.00%||
|Tier 1 Risk-Based Capital Ratio||6.00%||
|Total Risk-Based Capital Ratio||10.00%||