Edition: July 2006



 Local Lender$

 By Richard Acello



1st Pacific Bank of California Details

Contact Info

1st Pacific Bank of California
4275 Executive Square, Suite 650
La Jolla, CA 92037
Phone/ Fax: (858) 875-2007
Email: lprosi@1stpacbank.com

  • Executive Vice President, Chief Banking Officer, Larry Prosi.

  • Date opened for business: Nov. 17, 2000

  • Bank assets as of latest quarter: $277 million at 3/31/06

  • ROA: 1.06 percent

  • Core capital as percentage of assets: 9.08 percent

  • Provision for loan losses: $2.98 million

  • Plant the flag: Five branch offices including La Jolla Colony, Oceanside, Mission Valley, Inland North County (Highway 56 and I-15), and El Cajon, which opened in February. Also, a loan production office in Murrieta was opened this winter.

  • Employment: 70

Directors

  • James G. Knight, M.D., chairman

  • Susan Lew, vice chairman

  • Robert P. Cange, President, Cange International Inc.

  • Ronne Froman, CAO, city of San Diego

  • Albert Colucci, president, CBC Investment

  • Jeffrey A. Dunham, president and CEO, Dunham & Associates Investment Counsel

  • Albert L. Logan, partner, Hutchinson & Bloodgood LLP

  • A. Vincent Siciliano, president and CEO, 1st Pacific Bank of California

Key personnel

Siciliano is president and chief executive officer; James Burgess is chief financial officer and executive vice president; Prosi is chief banking officer and executive vice president.

Niche or target customer

Locally owned businesses with revenues between $500,000 and $25 million (doctors, attorneys, etc). Real estate lending accounts for about 60 percent of the bank’s loan portfolio. A specialty is construction lending for residential and commercial building.


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