Total Assets Top $50 Million at Endeavor Bank
San Diego’s first new community bank in 10 years is growing
Endeavor Bank (OTC Pink: EDVR), having completed its first five full months of banking operations on June 30, 2018, reported
strong loan and deposit growth since opening for business on January 22, 2018. Unaudited results as of the June 30, 2018 reporting
date show total assets of $50.3 million, with deposits totaling $26.8 million and loans standing at $13.3 million.
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Steve Sefton, President & Dan Yates, CEO (Photo: Business Wire)
Steve Sefton, President, commented, “We are more than satisfied with our early performance in terms of both deposit and asset
growth, and equally important, with the team we assembled to accomplish that growth.”
Dan Yates, CEO, further stated, “We are especially pleased with our suite of technology offerings. Banking today depends more
than ever on providing the smoothest, most sophisticated technology experience available. Clients expect an exceptional experience
and just won’t accept anything less. We continue to build our platform, but we are satisfied that our client experience today
rivals even the most sophisticated competition, including those with ‘big-bank’ Information Technology budgets.”
About Endeavor Bank
Endeavor Bank is primarily owned and operated by San Diegans for San Diego businesses and their owners. The Bank’s focus is
local: local decision-making, local board, local founders, local owners, and relationships with local clients in the San Diego
metropolitan market place and its surrounding areas.
Headquartered in downtown San Diego in the landmark Symphony Towers building, the Bank also operates a loan production office in
Carlsbad. Endeavor Bank offers traditional business banking services across a broad spectrum of industries and specialties. Unique
to the Bank is its consultative banking approach that partners business clients with Endeavor Bank’s senior management. Together,
they build strategies and provide resources that solve problems, plan for the future, and help clients’ efforts to grow revenues
and profits. Visit www.bankendeavor.com for more information.
Forward-Looking Statements
This press release includes “forward-looking statements,” as such term is defined in the Private Securities Litigation Reform
Act of 1995. Forward-looking statements are based on the current beliefs of the Bank’s directors and executive officers
(collectively, “Management”), as well as assumptions made by and information currently available to the Bank’s Management.
All statements regarding the Bank’s business strategy and plans and objectives of Management of the Bank for future operations,
are forward-looking statements. When used in this press release, the words “anticipate,” “believe,” “estimate,” “expect” and
“intend” and words or phrases of similar meaning, as they relate to the Bank or the Bank’s Management, are intended to identify
forward-looking statements. Although the Bank believes that the expectations reflected in such forward-looking statements
are reasonable, it can give no assurance that such expectations will prove to be correct. Important factors that could cause
actual results to differ materially from the Bank’s expectations (“cautionary statements”) are the loss of key personnel, lower
lending limits and capital than competitors, regulatory restrictions and oversight of the Bank during its “de novo” phase, the
secure and effective implementation of technology, risks related to the local and national economy, the Bank's implementation of
its business plans and management of growth, loan performance, interest rates, and regulatory matters, the effects of trade,
monetary and fiscal policies, inflation, and changes in accounting policies and practices. Based upon changing conditions,
if any one or more of these risks or uncertainties materialize, or if any underlying assumptions prove incorrect, actual results
may vary materially from those described as anticipated, believed, estimated, expected or intended. The Bank does not intend
to update these forward-looking statements.
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Endeavor Bank:
Dan C. Yates, CEO
(858) 230.5185
dyates@bankendeavor.com
or
Steven D. Sefton, President
(858) 230.4243
ssefton@bankendeavor.com
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