Bank of Escondido’s fourth full year of business in 2007 was very rewarding. Our success is related largely to our employees who have built strong professional relationships with customers, the community and with each other. We are proud of our bank’s family atmosphere.
We have benefited from our knowledgeable and influential local board of directors. Their advice and referrals enhance the bank’s performance and their community involvement reflects well on us all.
| I was privileged to be named 2007 Business Leader of the Year by the Escondido Chamber of Commerce. |
During 2007, the bank expanded two services that have been very successful. One was the Certificate of Deposit Account Registry Service (CDARS), which has provided individuals, nonprofits, local governments and businesses with FDIC insurance on deposits of up to $50 million. We were recognized as a leader with this product, placing more than $250 million with CDARS in 2007. The other service was wealth management with the addition of a Capitol Wealth Advisors investment executive at our bank.
Bank of Escondido and our employees are committed to improving the quality of life in our community. We are involved with local nonprofit organizations, such as the Escondido Children’s Museum. The bank and employees were also active in the area’s Breast Cancer 3-Day® benefiting Susan G. Komen for the Cure, raising more than $10,000 for the fight against the disease.
We are active with the Downtown Business Association of Escondido (DBA), which promotes economic development in the bank’s area of downtown. The DBA’s weekly Cruisin’ Grand Classic Car Show is a family friendly event, bringing more than 5,000 people to downtown every Friday night from April to October. Community bands perform on our patio during the show, enhancing the hometown feeling and bringing recognition to our bank.
Last June, I was privileged to be named the 2007 Business Leader of the Year by the Escondido Chamber of Commerce. This was a tremendous honor as previous recipients have been pillars of the community.
We market the bank through our quality service, referral network, sponsorships and community involvement rather than advertising. Our success comes primarily from satisfied clients who happily refer friends and associates to the bank. It’s a winning formula.
— Michael R. Peters, President & CEO