1st Centennial Bancorp Announces Plans to Open Irwindale Office.Business Editors REDLANDS, Calif.--(BUSINESS WIRE)--Feb. 23, 2004 1st Centennial Bancorp (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :FCEN FCEN Facultad de Ciencias Exactas y Naturales (Spanish) FCEN Financial Crimes Enforcement Network ), parent holding company of 1st Centennial Bank with headquarters in Redlands, is pleased to announce the opening of a Loan Production Office in the city of Azusa, Calif., pending the opening of a full-service de novo [Latin, Anew.] A second time; afresh. A trial or a hearing that is ordered by an appellate court that has reviewed the record of a hearing in a lower court and sent the matter back to the original court for a new trial, as if it had not been previously heard nor decided. branch in one of the developing commercial/retail centers within the city of Irwindale, subject to regulatory approval. The company is also pleased to announce that William Schroeder William Schroeder describes several people:
Schroeder has over 35 years experience as a commercial lender, senior relationship manager and senior credit officer at a variety of San Gabriel Valley-based financial institutions, including over eight years with Granite State Bank in Monrovia, Calif. Ochoa's background includes tenure with First American Bank First American Bank is the name of numerous banks operating separately in each state of the United States. Please refer to the individual articles for more information on each bank. in Rosemead, Calif., Western Industrial National Bank and Sanwa Bank both in South El Monte South El Monte, city (1990 pop. 20,850), Los Angeles co., S Calif., in the San Gabriel Valley; inc. 1958. Manufactures include transportation equipment, electrical and plastic products, clothing, textiles, machinery, and furniture. There is poultry processing. , Calif. "We are fortunate and excited about the opportunity to expand in the dynamic San Gabriel Valley The San Gabriel Valley is one of the principal valleys of southern California. It lies to the east of the city of Los Angeles, to the north of the Puente Hills, to the south of the San Gabriel Mountains, and to the west of the Inland Empire. with bankers as experienced and well-respected as both Bill and Linda," stated Timothy P. Walbridge, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . On Feb. 20, 2004, the board of directors of FCEN announced a 25% stock dividend to shareholders of record April 1, 2004, and payable May 1, 2004. Last month, the Company announced earnings of $2.088 million for the twelve months ended Dec. 31, 2003, compared to $1.706 million for the previous year. Basic earnings per share were $1.48 in 2003 compared to $1.35 for 2002. Total assets reached a record high of $254 million at Dec. 31, 2003, up 22% from Dec. 31, 2002. 1st Centennial Bank operates its main office and construction/real estate loan production offices in downtown Redlands, a full-service branch and its SBA/Commercial Lending Group in Brea, Calif., and full-service branches in Escondido and Palm Desert, Calif. This release contains forward-looking statements that reflect management's current views of future events and operations. These forward-looking statements are based on information currently available to the Company as of the date of this release. It is important to note that these forward-looking statements are not guarantees of future performance and involve risks and uncertainties including, but not limited to, the ability of the Company to implement its strategy and expand its lending operations. Additional information is available on the Internet at www.1stcent.com or by contacting Beth Sanders, executive vice president and chief financial officer at bsanders@1stcent.com. |
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