This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

California Republic Bancorp Announces Record Assets Of $797.0 Million, Record Deposits Of $733.6 Million, And Record Auto Originations Of $187.3 Million For The Third-Quarter 2013

California Republic Bancorp (OTCBB: CRPB), holding company for California Republic Bank, announced its results for the third-quarter 2013, reporting record assets of $797.0 million, record core deposits of $733.6 million and record auto originations of $187.3 million.

CEO Jon Wilcox stated, “We have continued to invest and add value to our commercial banking and auto lending platforms this year. Although we did not plan to, nor did we execute an auto securitization this quarter, our indirect auto originations for the three month period grew to a record $187 million, and we continue to outperform our loss expectations from our first two auto securitizations. We are also very pleased that our non-interest bearing demand deposits have grown to $412 million, more than any other bank based in Orange County.”

President John DeCero commented, “In this historically low interest rate environment with very little loan demand, it is important to not only have a low cost core deposit franchise, which we have built, but also a consistent loan generating platform to invest those deposits. We believe that our two major businesses, commercial banking and indirect auto finance, to which we continue to invest in infrastructure and more importantly best-in-class people, will provide a truly unique earnings platform for a community bank, one that can flourish regardless of the rate environment.”

Third-Quarter 2013 Results:

Assets and Liabilities

As of September 30, 2013, California Republic Bank reported total assets of $797.0 million, an increase of $211.5 million, or 36.1% above total assets as of September 30, 2012. The year-over-year increase in total assets reflects continued strong core checking account growth with non-interest bearing demand deposits reaching a record $412.0 million compared with $228.4 million at the end of the third-quarter of 2012, an increase of $183.6 million, or 80.3%. The non-interest bearing accounts represent 56.2% of total deposits at September 30, 2013. Total deposits grew to a record $733.6 million, compared to $533.0 million for the third-quarter of 2012, an increase of $200.6 million or 37.7%.

1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs