Vibra Bank Celebrates Five Years As San Diego's Community Multicultural Bank
Bank formed in the midst of economic downturn reaches $126 million in assets through its multicultural focus, serving businesses and professionals
CHULA VISTA, Calif., July 8, 2013 /PRNewswire/ -- Today, Vibra Bank ("VBBK"-OTCBB) reaches a milestone in its existence, celebrating five years in business. The Chula Vista bank, which has combined its special ability to service the Hispanic market with a focus on serving businesses, business owners, and professionals, has achieved sound growth during a period marked by economic uncertainty, and now looks forward to continued growth as the economy improves.
"I can clearly recall skeptical comments from people as we were forming the bank, and the economic fear which was so prevalent at the time," said Vibra Bank President and CEO Scott Parker. "But we were confident that there was demand for a bank like Vibra Bank in the San Diego market." He continued, "Given the level of business activity involving people and businesses on both sides of the border, we were sure that a multicultural bank would be welcomed with opportunities, and we were right."
Vibra Bank provides a full range of banking services in a highly personalized service environment, and its ability to serve Mexican clients as well as U.S. clients doing business in Mexico comes from the vision of its founders. "Many of our original investors, including myself and other members of our Board of Directors, came to the U.S. from Mexico, and know first-hand the challenges faced by business owners in establishing and growing a business in the U.S., and in navigating through the legal, investment, accounting, and cultural differences between the two countries," noted Vibra Bank Chairman Enrique Schon. "We are proud to serve as a resource for our clients, and to contribute to the economic growth of our region by helping businesses to expand and thrive."
Vibra Bank's focus on lending to businesses has brought recognition to the bank as a leader in SBA lending in the area, and it is a Preferred Lender within the SBA program. "Over the past five years Vibra Bank has originated $40 million in SBA loans to borrowers, supporting the local economy, and allowing businesses to grow and expand their employment," said Parker. "From medical offices to distribution centers to restaurants, Vibra Bank has maintained a strong lending role as an SBA Lender."
Vibra Bank continues to develop new ways to serve its customers, and recently began offering a full range of investment services and products through its subsidiary, Vibra Investments, LLC. "As a Registered Investment Advisor, Vibra Investments, LLC provides investment solutions to clients in a fee-based, advisory capacity," said Vibra Investments President Jorge Saldarriaga. "We work with qualified clients to establish long-term relationships through customized investment strategies that are unique, suitable, and relevant, while providing exceptional personal attention."
Vibra Bank will be celebrating its 5th anniversary with snacks and refreshments the week of July 8th – July 12th (during business hours) to thank customers for their continued business and support. Visit the bank for an opportunity to meet the Vibra Bank staff, learn about its banking services and enter a raffle for a chance to win $500*.
About Vibra Bank:
Vibra Bank offers a wide range of deposit services to meet its customers' needs, including online banking and remote deposit capture. Vibra Bank's lending is focused on loans to businesses, business owners, and professionals with a full range of loan products. The bank is also a Preferred Lender for SBA loans. More information about Vibra Bank may be found at www.vibrabank.com, and by contacting Scott Parker at 619-651-9411.
About Vibra Investments, LLC
Vibra Investments, LLC offers investment products and services including equities, bonds, mutual funds, and annuities. Vibra Investment products are not FDIC-insured, not guaranteed by bank or any government agency, not bank deposits, and may lose value. For more information about Vibra Investments, LLC, contact Jorge Saldarriaga at 619-651-9426.
Certain statements in this press release, including statements regarding the anticipated development and expansion of Vibra Bank's business, and the intent, belief or current expectations of Vibra Bank, its directors or its officers, are "forward-looking" statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, risks related to the local and national economy, Vibra Bank's performance and implementation of its business plans, loan performance, interest rates, and regulatory matters.
* Drawing will be held July 15th at Vibra Bank. Not required to be a Vibra Bank customer to participate. Need not to be present to win. Winner must provide Identification and Social Security number for tax reporting purposes. Vibra Bank Employees and Shareholders are not eligible.
SOURCE Vibra Bank
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