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An Update from John Black:
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Christopher Cox at 1st Enterprise Bank luncheon in January.
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Christopher Cox, 28th Chairman of the SEC Speaks at 1st Enterprise Luncheon
Christopher Cox, 28th Chairman of the Securities and Exchange Commission was the guest speaker at 1st Enterprise Bank’s January luncheon. During his tenure at the SEC, Chairman Cox made vigorous enforcement of the securities laws the agency's top priority, reinvigorating the agency's program to provide key investor information in plain English.
During an engaging presentation, he commented on the current political climate: “The recent election process shows that Americans have put fiscal policy front and center. I served in Congress for 17 years, and during that entire period, fiscal policy was never a hot topic. Now voters are concerned. Spending is their #1 issue and unemployment is #2.”
Cox also commented on recent fiscal policy: “As large as TARP was, it was one-time money. Currently healthcare is $3.8 trillion per year of our GDP, when I went to Washington 17 years ago, it was $1 trillion. Actual spending (on healthcare) will be far more than currently projected.”
Within his opening remarks, Cox noted that the Bank is making good on its promise to take personal interest in their customers, and that the informational luncheon was but one example.
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1st Enterprise Bank on Front Page of
Inland Valley Daily Bulletin’s Business Section
The December 24, 2010 Inland Valley Daily Bulletin ran a front page picture and story titled, Banking Small—Local Branches Thrive in Wake of Recession, written by Business Editor, Rebecca Cho. The story contained quotes and references made by Keith Cerwinski of 1st Enterprise Bank’s Ontario branch, and a new Ontario branch customer, Robert Cantero:
Robert Cantero Jr., an Upland resident and owner of Robert's Lumber Sales in Fontana, said he was with Vineyard Bank for 10 years before its takeover by the government. San Diego-based California Bank and Trust acquired the failed bank, and Cantero stayed on as a customer for about nine months before leaving for 1st Enterprise.
Cantero said he was looking for a building loan to move his business into a new site in Rialto. Rather than being transferred from one department to another, depending on his question, he wanted to speak with one person, he said. He got the loan from 1st Enterprise. "I'd rather work with a smaller bank. I find the service is much better," Cantero said.
"This year, I'm hearing more people saying they're feeling better about their business today," Cerwinski said. "There is a level of optimism out there this year that was not there last year."
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1st Enterprise Bank Reaches $500 Million in Assets
1st Enterprise Bank reported fourth quarter, and full year 2010 net income of $620,000 and $1,740,000, respectively.
"We are pleased to announce that the Bank reached $502 million in total assets," said Brian Horton, President. "Over the last year, the Bank has continued its strong organic growth, evidenced by a 30% increase in core deposits, and a 34% increase in loans."
CEO John Black said, "During these difficult economic times, we are pleased to report that the Bank continues to have no charged-off or past due loans, which is a testament to the quality of our customer base. We are also proud of the Bank's 2010 earnings, as income before both taxes, and loan loss provisions increased by $1.6 million over 2009."
Sincerely,
Los Angeles
Headquarters Office
818 West 7th St.
Suite 220
Los Angeles, CA 90017
(213) 430-7000 |
Orange County
Regional Office
17901 Von Karman Ave.
Suite 450
Irvine, CA 92614
(949) 399-5000 |
Inland Empire
Regional Office
3281 E. Guasti Rd.
Suite 875
Ontario, CA 91761
(909) 544-5500
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| 818 West 7th Street, Suite 220 | Los Angeles, CA 90017 |
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