Commercial Capital Bancorp, Inc. Announces That Subsidiary, North American Exchange Company, Expands to Illinois and Minnesota.IRVINE, Calif. -- Commercial Capital Bancorp, Inc. (the "Company") (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CCBI) announced today that North American Exchange Company ("NAEC"), one of the Company's 1031 exchange accommodator subsidiaries, has further expanded its national presence by hiring two new Business Development Managers and entering the markets of Illinois and Minnesota, markets that are key to NAEC's growth strategy. Dean Marks will be based in Chicago and serve as the Business Development Manager for NAEC in Illinois and neighboring markets. Mr. Marks holds a bachelor's degree from Dartmouth College and a Juris Doctorate degree from Emory University, is a member of the Illinois State Bar, and has been in private practice focusing on real estate matters. Chantily Malibago will be based in Minneapolis and serve as the Minnesota Business Development Manager for NAEC. Ms. Malibago most recently worked as a regional real estate asset manager and Realtor, and holds a bachelor's degree from the University of Minnesota (body, education) University of Minnesota - The home of Gopher. http://umn.edu/. Address: Minneapolis, Minnesota, USA. . NAEC also increased its presence with the hiring of two Business Development Managers in the San Diego, California “San Diego” redirects here. For other uses, see San Diego (disambiguation). San Diego is a coastal Southern California city located in the southwestern corner of the continental United States. As of 2006, the city has a population of 1,256,951. and Phoenix, Arizona areas, two markets that have been significant contributors to NAEC 1031 exchange transaction volumes. Troy Terpening will be based in La Jolla, California and serve as the Business Development Manager for NAEC in San Diego, Riverside and San Bernardino counties. Mr. Terpening graduated with honors from San Diego State University San Diego State University (SDSU), founded in 1897 as San Diego Normal School, is the largest and oldest higher education facility in the greater San Diego area (generally the City and County of San Diego), and is part of the California State University system. , and received his Juris Doctorate from the Western School of Law in San Diego. Mr. Terpening is a member of the California State Bar and has taught courses at San Diego Mesa College San Diego Mesa College is a public, two-year community college located in the Kearny Mesa neighborhood of San Diego, California. Academics Mesa College is coeducational. It has a semester-based academic calendar and resides on a campus of 104 acres (421,000 m²). , California Western School of Law Founded in 1924, California Western School of Law (popularly known as California Western or Cal Western) is a private, non-profit law school located in San Diego, California. , the University of San Diego Paralegal Program and the University of California The University of California has a combined student body of more than 191,000 students, over 1,340,000 living alumni, and a combined systemwide and campus endowment of just over $7.3 billion (8th largest in the United States). at San Diego Extension Program. Kevin Mark will be based in Gilbert, Arizona and serve as the Arizona Business Development Manager for NAEC. Mr. Mark has over 12 years of real estate sales and real estate franchise sales experience, including serving as Regional Director of Sales and Business Development for Century 21 in Arizona, New Mexico and southwest Texas. NAEC is a "qualified intermediary" that facilitates tax-deferred real estate exchanges pursuant to Section 1031 of the Internal Revenue Code The Internal Revenue Code is the body of law that codifies all federal tax laws, including income, estate, gift, excise, alcohol, tobacco, and employment taxes. These laws constitute title 26 of the U.S. Code (26 U.S.C.A. § 1 et seq. . NAEC facilitates 1031 exchanges nationwide through its headquarters in Walnut Creek, California Walnut Creek is a largely affluent suburb several miles east of Oakland in Contra Costa County, California, USA, in the East Bay region of the San Francisco Bay Area. While not as large as the neighboring Concord, Walnut Creek serves as the business and entertainment hub for the , offices in Long Beach, California Long Beach is a city located in southern Los Angeles County, California, USA, on the Pacific coast. It borders Orange County on its southeast edge. It is about 20 miles (30 km) south of downtown Los Angeles. ; and a presence in San Francisco, Los Angeles, and San Diego, California; Seattle, Washington; Phoenix, Arizona; Denver, Colorado; Dallas, Texas; Chicago, Illinois; Minneapolis, Minnesota; Miami, Florida; Charlotte, North Carolina “Charlotte” redirects here. For other uses, see Charlotte (disambiguation). Charlotte is the largest city in the state of North Carolina and the 20th largest city in the United States. ; and Washington, DC. About Commercial Capital Bancorp, Inc. Commercial Capital Bancorp, Inc. is a diversified financial services company with $5.46 billion of total assets, at December 31, 2005. The Company provides depository and lending products and services under the Commercial Capital Bank brand name, and provides 1031 exchange services to income property investors nationwide under the TIMCOR Exchange Corporation and North American Exchange Company brand names. This press release may include forward-looking statements related to the Company's plans, beliefs and goals, which involve certain risks, and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such risks and uncertainties include, but are not limited to, the following factors: competitive pressure in the banking industry; changes in the interest rate environment; the health of the economy, either nationally or regionally; the deterioration of credit quality, which would cause an increase in the provision for possible loan and lease losses; changes in the regulatory environment; changes in business conditions, particularly in California real estate; volatility of rate sensitive deposits; asset/liability matching risks and liquidity risks; and changes in the securities markets. The Company undertakes no obligation to revise or publicly release any revision to these forward-looking statements. |
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