Penny Stock Columns on the OTCBB

Security Business Bank Continues to Grow

04-22-2008

by Lester Young

With the housing market still reeling from slow sales, dipping values and an across-the-board credit crunch, it's easy to see why many financial prognosticators continue to be pessimistic. Not only have mortgage companies been hit with devastating body blows, commercial banks have begun to stumble, as well.

It's the general rule of thumb that banks are tightening their operations and drastically contracting their credit extensions in an effort to minimize losses. But not all banks are painting a doom-and-gloom picture. Security Business Bank (OTCBB: SBBK) has announced its unaudited 2008 first-quarter financial results, and the numbers are making shareholders smile. The report shows year-over-year growth of 24% in loans and 50% in core deposits, along with a total-asset figure of $204.5 million – a $19.6 million increase over 2007's final-quarter number and $44 million more than March 31, 2007 totals. Additionally, there were zero non-performing loans for the just-ended quarter.

Security Business Bank operates three branches in San Diego, California. The six-year-old organization's goal is to bring community specialization, local decision-making and personalized service to the business banking experience. The bank seeks to combine this high level of customer service for small- to medium-sized businesses with an advanced technology platform, and has already built a reputation for responsiveness, financial innovation and providing its customers with accessibility to executive-level advisers. Security's customer base is made up of numerous growth-oriented organizations from an array of industries in the San Diego area. As it facilitates the growth of its clientele, the bank expects its revenues to continue to please its shareholders.

The writer does not own shares in the above stocks.

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