News You Can Use |
- October 27, 2008
EL PASEO BANK HOLDS INDENTITY THEFT PREVENTION DAY TO EDUCATE CITIZENS ON NEW FEDERAL “RED FLAG” REGULATIONS FOR BETTER PROTECTION
- October 21, 2008
EL PASEO BANK REPORTS RESULTS FOR THIRD QUARTER
- August 15, 2008
FRONTIER BANK'S CHIEF FINANCIAL OFFICER FEATURED IN AMERICAN BANKER
- August 15, 2008
MULLING OPPORTUNITY, RISK IN THE TEEN CARD MARKET.
- August 5, 2008
FRONTIER BANK PRESIDENT ENJOYS "SECOND CAREER" AS PHOTOGRAPHER.
- August 5, 2008
EL PASEO BANK VICE CHAIRMAN AND CEO, ANDREW MONTGOMERY SPEAKS OUT ON CRUX OF MORTGAGE CRISIS IN DESERT SUN AS INDUSTRY INSIDER.
- July 17, 2008
EISENHOWER ELECTS NEW CHAIRMAN OF THE BOARD
- June 21, 2008
El Paseo Bank President and Family Make Significant Commitment to Children's Hospital of Los Angeles
- June 18, 2008
El Paseo Senior Vice President Joins Inland Empire Small Business Financial Development Corporation's Board of Directors
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News You Can Use
El Paseo Bank Reports Results for Third Quarter
El Paseo Bank today announced net income of $1,835,678 for the nine months ended September 30, 2008 with $323 million in total assets and net loans of $265 million. Chairman and CEO, Andrew Montgomery said, “Through the steady leadership of management and guiding influence of one of the most talented and experienced Board of Directors of any community bank in the United States, El Paseo Bank has thrived during these difficult economic times. While our earnings in 2008 are not as strong as we would like, we fully anticipate that current initiatives will provide for growth in earnings, assets and shareholder value next year and in years to come.”
In addition to Andrew Montgomery, El Paseo Bank’s Board of Directors include such business luminaries as spokesman Merlin Olsen; retired Chairman of First Boston and current Board Member to Eisenhower Medical Center, Alvin Shoemaker; former Senator and current Board member to the Federal Home Loan Bank of Topeka, Kansas, Senator David Karnes; senior consultant to Roy Disney’s Shamrock Holdings, Clifford Miller; retired CEO of Great Western Bank, James Montgomery; retired CEO of America’s Community Bankers and the New York League of Savings Institutions, Paul Schosberg; senior partner in the Washington D.C. practice of Nixon Peabody, Raymond Gustini; CEO of Sunrise Company’s William Bone; President of Utah operations, F. Marc Estabrook and local real estate expert, Sam Spinello.
With three branches in Palm Desert, one in Park City and one in Salt Lake City, Utah, El Paseo Bank continues to be a “Well Capitalized” bank with a core capital ratio of 8.22% and a risk-adjusted capital ratio of 11.76%. Non-performing loans represented 1.04% of the total loan portfolio. Utah branches operate under the name Frontier Bank, FSB. | 
