Vibra Bank Announces Continued Earnings Growth

CHULA VISTA, Calif., July 13, 2011 /PRNewswire/ -- Today, Vibra Bank (OTCBB: VBBK) announces its unaudited financial results for the second quarter and six months ended June 30, 2011.

Vibra Bank opened for business in July 2008, focusing on the business and professional market, and emphasizing its bi-cultural strengths. The bank is FDIC insured and operates solely in the U.S., focusing on serving the Hispanic business and professional market in San Diego County.

"We are pleased to report a continuing expansion of the profitability which began in the fourth quarter of 2010" said Vibra Bank Chairman Enrique Schon.  "Our continued success is the result of efforts to extend credit to small businesses, and demonstrates the power of our bicultural focus, our local decision-making, and our commitment to excellent service."

For the second quarter and six months ending June 30, 2011, the bank reported a net profit of $329,000 and $464,000, respectively.  This compares with a loss of ($119,000) and ($393,000) for the same periods of the previous year.

"Vibra Bank has expanded its small business lending presence and continues to focus on providing a high level of customer service, achieving positive results even in a marginal economy" said Vibra Bank CEO Scott Parker. "We continue to have zero non-performing loans or foreclosed real estate, and an excellent financial condition."

Vibra Bank's leverage ratio as of June 30, 2011 was 14.4%, compared with the minimum 11% required of most newly-established banks.  As of June 30, 2011, Vibra Bank reported total assets of $77.8 million, including total gross loans of $57.6 million.  Total deposits were reported as $64.3 million, and total equity at $11.5 million.

"We look forward to the remainder of 2011, as we continue to offer the strengths of Vibra Bank to help our expanding customer base reach its goals" added CEO Parker. "We expect to continue to bring forth innovative services to increase the value of a relationship with Vibra Bank, and augment the excellent team of professionals we have assembled to serve our clients."

Vibra Bank offers customers a wide range of deposit services to meet their 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.

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.

Media Contact:
Scott Parker
619-651-9411
[email protected]

SOURCE Vibra Bank