Private Bancorp of America, Inc. Announces the Name Change of Its Subsidiary Bank and Related Divisions

LA JOLLA, Calif., Feb. 01, 2018 (GLOBE NEWSWIRE) -- Private Bancorp of America, Inc. (OTCQX:PBAM)

Selwyn Isakow, Chairman, and Thomas V. Wornham, President & CEO, of Private Bancorp of America, Inc. (“Bancorp”), parent company of San Diego Private Bank (“Bank”), released the following statement today.

“We are pleased to share some exciting news with you. In the next few months we will be changing our Bank’s name to CalPrivate Bank. CalPrivate Bank will be the new name for San Diego Private Bank and its divisions, Coronado Private Bank, Newport Private Bank and Private Business Capital.

“We are making this name change to create a strong brand targeted at Coastal Southern California. We continue to be committed to providing the same great locally focused service, delivered by the same outstanding team members customers have relied upon for over 10 years.

“Our mission statement is simple – RELATIONSHIPS. SOLUTIONS. TRUST. We will continue to build relationships through customized solutions to develop mutual trust.”

Both Isakow and Wornham hold the same corporate titles at the Bank as they do at the holding company. All regulatory and government approvals have been received. The name change process is anticipated to be completed by the end of the first quarter 2018.

About Private Bancorp of America, Inc.

Private Bancorp of America, Inc. (OTCQX:PBAM), is the holding company for San Diego Private Bank. San Diego Private Bank provides a Distinctly Different banking experience through unparalleled service and creative funding solutions to high net worth individuals, professionals, locally owned businesses and real estate entrepreneurs. Customers are serviced through offices in Coronado, San Diego, La Jolla, Newport Beach and Beverly Hills as well as efficient electronic banking offerings. The Bank also offers various portfolio and government guaranteed lending programs, including SBA and cross-border Export-Import Bank programs. San Diego Private Bank is a SBA Preferred Lender.

Investor Relations Contact

Thomas V. Wornham
President/CEO
Private Bancorp of America, Inc. and San Diego Private Bank
(858) 875.6900

Safe Harbor Paragraph

This press release may include forward-looking statements that involve inherent risks and uncertainties. Private Bancorp of America, Inc. cautions readers that a number of important factors could cause actual results to differ materially from those in the forwardlooking statements. These factors include economic conditions and competition in the geographic and business areas in which Private Bancorp of America, Inc. operates, our ability to successfully integrate the operations of merged banks, inflation, fluctuations in interest rates, legislation and governmental regulation. You should not place undue reliance on forwardlooking statements and we undertake no obligation to update those statements whether as a result of changes in underlying factors, new information, future events or otherwise.

Source:Private Bancorp of America, Inc.