IRVINE, Calif.--(BUSINESS WIRE)--California Republic Bancorp (OTCBB:CRPB), announced that on May 28, 2014, Moody’s Investor Service upgraded eight auto loan backed securities and affirmed one security issued by California Republic Auto Receivables Trusts to “Aaa” credit rating, which represents Moody’s highest credit rating for such securities.
For more information please see the full press release from Moody’s Investor Service at: https://www.moodys.com/research/Moodys-upgrades-California-Republic-issued-prime-auto-loan-ABS-to--PR_300343.
About California Republic Bancorp:
California Republic Bancorp is the holding company for California Republic Bank and CRB Auto, Inc. California Republic Bank is a full-service commercial bank providing loans, deposit and cash management services to individuals, businesses, and investors. The Bank offers its customers direct access to decision makers, unparalleled responsiveness, seasoned Relationship Managers and state-of the-art technology. The Bank has four full-service branches serving Southern California located in Newport Beach, Beverly Hills, Irvine, and Westlake Village. The Bank also owns and operates an indirect auto finance business and a separate wholly owned subsidiary, CRB Auto, Inc. which purchases auto contracts from both franchised and independent automobile dealerships throughout California, Arizona, Texas, Nevada, Iowa, Kansas and Missouri.
For more information, contact Jon Wilcox, CEO, or John DeCero, President at 949-270-9719. You can also visit the Company’s website at www.crbnk.com.
California Republic Bancorp’s Board of Directors includes:
Inside Directors: Jon Wilcox, CEO and John DeCero, President.
Outside Directors: Robert Barth, Chairman of the Board of California Republic Bank and CEO of Black Equities Group Ltd.; John Bendheim, President of Bendheim Enterprises, Inc.; Marc Brutten, Entrepreneur and CEO of Westcore Holdings; Bob Din, CEO of En Pointe Technologies; John Hagestad, Managing Partner of SARES-REGIS Group; Warren S. Orlando, Chairman, 1st United Bancorp Inc.; and J. Scott Watt, President and CEO of the Watt Group of Companies.
For information regarding the purchase or sale of California Republic Bancorp’s stock, contact Douglas Deubel, Raymond James at 1-800-800-4693.
Forward-looking Statements
Certain matters discussed in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, and are subject to the safe harbors created by the act. These forward-looking statements refer to California Republic’s current expectations regarding future operating results, and growth in loans, deposits, and assets. These forward-looking statements are subject to certain risks and uncertainties that could cause the actual results, performance or achievements to differ materially from those expressed, suggested or implied by the forward-looking statements. These risks and uncertainties include, but are not limited to (1) the impact of changes in interest rates, a decline in economic conditions and increased competition by financial service providers on California Republic’s results of operations; (2) California Republic’s ability to continue its internal growth rate; (3) California Republic’s ability to build net interest spread; (4) the quality of California Republic’s earning assets; (5) changes in the level of non-performing assets and charge-offs; (6) the effect of changes in laws and regulations with which California Republic must comply; (7) changes in estimates of future reserve requirements based upon the periodic review thereof under relevant regulatory authorities and accounting requirements; (8) acts of war or terrorism or natural disasters; (9) the timely development of new banking products and services; (10) the success of products and services, such as the indirect auto loan business; (11) technological changes; (12) cyber-security threats, including loss of system functionality or theft or loss of data; (13) the ability to increase market share and control expenses; (14) the ability to successfully operate CRB Auto, Inc. as a separate subsidiary of the Bank; and (15) California Republic’s success at managing the risks involved in the foregoing items.
California Republic does not undertake, and specifically disclaims any obligation to update any forward-looking statements to reflect occurrences or unanticipated events or circumstances after the date of such statements except as required by law.
