Friday, July 10, 2009

Plaza Bank Achieves Milestone


FOR IMMEDIATE RELEASE



MILESTONE ACHIEVED AS
SEATTLE’S PLAZA BANK
CELEBRATES THREE YEARS

SEATTLE (July 9, 2009) - Plaza Bank, based in Seattle, Washington, announces that it surpassed $100 million in assets one month before its third anniversary. The Bank was founded on the principles of serving business and individual customers with a focus on the Latino community.


"This is quite an achievement for any bank during these troubled times," President and CEO Carlos Guangorena admits. "I'm proud of the team we've assembled and appreciative of the businesses and individuals who have put their trust in Plaza Bank. We are doing everything we can to continue to earn their trust and provide a world-class banking experience."


Significantly, this accomplishment was reached while operating from two locations, unusual for a de novo bank. As Plaza Bank enters its fourth year of business, Guangorena cautions that there is still work to do. “The Bank achieved this milestone in a challenging environment. We have to stay focused on credit quality and service during these tough times."

Meanwhile, Plaza Bank continues to reach out to minorities:


  • Its total loans to women and minorities were over 40 percent of total loan balances outstanding at the close of 2008.

  • Approximately 70 percent of its consumer loans are to Hispanics.

  • About 23 percent of its commercial loans are to Latinos.

Plaza Bank is a locally-owned community commercial bank serving the Seattle Metropolitan area and offering quality services and products to businesses, non-profit organizations and consumers with a focus on Hispanic businesses and consumers. The Bank is one of only three which have been designated as FDIC Minority Depository Institutions in the Pacific Northwest. The Kent Station branch in Kent is open Monday through Thursday, 9:30 am - 5 pm; Fridays 9:30 am - 6 pm. The Downtown Seattle office is open 9 am - 5pm weekdays. For more information about Plaza Bank, call 206-436-7600 or visit http://www.plazabankwa.com./


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