Turning Pennies into dollars: (OTCBB:CWBK) CommerceWest Bank
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CommerceWest Bank Earns an "A" in Financial Strength Ratings
(OTCBB:CWBK) CommerceWest Bank, NA (Newport Beach, CA)
Monday February 2, 7:07 am ET
Quarterly Evaluation by TheStreet.com Ratings, Inc., Highlights CommerceWest Bank's Strength, Ability to Withstand Severe Economic Adversity
IRVINE, CA-Feb 2, 2009 - CommerceWest Bank recently announced that it has received a financial strength rating of "A" or "Excellent" from TheStreet.com Ratings, the nation's leading independent provider of ratings and analyses of financial services companies, mutual funds, and stocks.
According to TheStreet.com Ratings, a financial strength rating of "A" or "Excellent" recognizes CommerceWest Bank as an outstanding institution offering excellent financial stability and security for its clients, vendors, and employees. It illustrates that the company has maintained a conservative stance in its business operations and underwriting practices as evidenced by its strong equity base, top-notch asset quality, steady earnings, and high liquidity.
"Although the past year has been challenging, CommerceWest Bank recently reported its 24th consecutive quarter of profitability, which is a distinctive accomplishment in recently's market turmoil," said Ivo Tjan, chairman and CEO of CommerceWest Bank. "We have weathered some turbulent market conditions since our inception, but by adhering to our original strategy we have avoided the pitfalls that are now plaguing other financial institutions. This recognition is a testament to the strength and longevity of our organization, and serves as further validation for our clients - and the industry as a whole - that CommerceWest Bank is stable and well-positioned to persevere."
Each quarter, TheStreet.com Ratings evaluates the financial strength of more than 15,000 institutions, including banks, brokerage firms, life, health and annuity insurers, as well as the risk-adjusted performance of more than 12,000 mutual funds and 6,000 stocks. Fewer than four percent of the nation's banks and thrifts meet TheStreet.com Ratings' criteria for exceptional financial strength, making this a coveted distinction.
"TheStreet.com Ratings' proprietary model uses more rigorous standards than other rating agencies, placing greater emphasis on a company's future financial solvency and its ability to withstand severe economic adversity," said Melissa Gannon, vice president of insurance and bank ratings for TheStreet.com Ratings. "For this reason, a company receiving our highest financial strength rating truly demonstrates itself to be among the industry's elite."
About CommerceWest Bank
Headquartered in Irvine, Calif., CommerceWest Bank provides a wide range of specialized commercial banking and financial services to entrepreneurs and small- to mid-sized businesses with revenues up to $100 million. Our personal business bankers work in tandem with clients to create a complete banking experience customized to their specific needs in a low-stress environment. We offer a comprehensive line of commercial banking and Signature Services including on-site concierge, Remote Deposit Solution, Internet banking, lines of credit, term loans, commercial real estate lending, SBA lending, as well as cash and treasury management. Regional offices are located throughout Southern California in Orange County, Inland Empire, Los Angeles. For more information, call 251-6959 or visit www.cwbk.com.
Contact:
Bank Contact: CommerceWest Bank Mr. Ivo A. Tjan, CEO Telephone: 251-6959 Facsimile: 251-6957 E-mail: Email Contact Website: http://www.cwbk.com "Bank on the Difference" Source: CommerceWest Bank
Profile for CommerceWest Bank, NA (Newport Beach, CA)
CommerceWest Bank, N.A. offers various banking services to the small and mid-sized businesses in southern California. It offers basic and analyzed checking accounts, money market accounts, saving accounts, certificates of deposit, attorney client services, and escrow accounts. The bank’s lending portfolio includes lines of credit; term loans; multifamily, construction, and commercial real estate loans; equipment financing; asset-based lines of credit; small business administration loans; state guaranteed programs; and letter of credit. It also offers online banking services, such as balance transfers, stop payments, make loan payments, and loan transfers. The bank’s cash management services ... Detailed CWBK Company Description...
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