TEMECULA, Calif.--(BUSINESS
WIRE)--Mission Oaks Bancorp, parent of Mission Oaks National Bank, was
among the nation's best performing community banks over the last three
years, according to a survey conducted by U.S. Banker, a leading banking
industry magazine.
The Temecula-based
community bank scored well according to an important measuring stick
that financial institutions use to gauge performance. Among the top
200 community banks in the nation with assets of less than $1 billion,
Mission Oaks ranked 58th with an average return on equity, or ROE, of
15.79 percent over the past three years. ROE compares profits and capital.
Mission Oaks was
one of only 32 California banks that made it on U.S. Banker's top performing
list. Among California banks with assets of less than $1 billion, Mission
Oaks was ranked the 14th most successful institution. Mission Oaks also
was the third best-run community bank in the Inland Empire.
"This is a
remarkable achievement when you consider that the time covered was our
fourth through sixth years of operations," said Gary Votapka, Mission
Oaks president and chief executive. "During that period we were
building up the bank, opening offices and adding products and services."
Mission Oaks also
scored well in other important bank-performance gauges. Mission Oaks
had a profit margin of 36.26 percent and an efficiency ratio of 58.90,
which means that it spent 58.9 cents to generate $1 of revenue.
Mission Oaks National
Bank is a federally chartered community bank with assets of more than
$200 million that is committed to serving consumers and businesses in
Southern California. The bank offers personalized services and products
through three full-service branch offices in Temecula and Ontario and
loan production offices in San Diego and Phoenix.
Mission Oaks Bancorp
common stock is traded over the counter under the stock symbol MOKB.OB.
For more on Mission
Oaks National Bank visit its Web site at missionoaksbank.com.
Safe Harbor
Certain statements
in this press release, including statements regarding the anticipated
development and expansion of the Bank's business, and the intent, belief
or current expectations of the 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, the Bank's performance,
regulatory matters and those discussed in filings by the Bank with the
Office of the Comptroller of the Currency.
