Genesis Bank Announces Completion of Acquisition of Beverly Hills Headquartered Excel Bank, a Tradename of EH National Bank
Stephen H. Gordon, Chairman and Chief Executive Officer of Genesis Bank, stated, 'We are excited to welcome the clients and employees of Excel Bank to Genesis Bank. Throughout our interactions over the past couple months, it's clear that Excel has built a strong and loyal client base – including small to mid-size businesses, commercial real estate investors, owners, and their operations, as well as fiduciary and specialty companies. As we are on track to complete the client conversion experience expeditiously, we look forward to deepening our relationships with Excel's existing and prospective clients by providing full access to our leading technology platform and comprehensive suite of commercial and treasury cash management products, services, and solutions. With our client outreach efforts well underway, the inherent synergies – across our Southern California footprint, complementary business lines, and client base – are actively being realized by our collective team of veteran bankers and positioning us for continued growth and scale.'
Mr. Gordon added, 'I'd like to thank all the employees at Genesis and Excel, who have worked tirelessly to successfully reach this critical milestone. The high level of collaboration, execution, and efficiency, exemplifies our client centric focus, as we continue to pursue our strategic objectives, both organic and through acquisitions.'
About Genesis Bank
Genesis Bank is a California state chartered commercial bank, organized by a group of highly experienced and successful bankers, investors, and business professionals. The Bank focuses on serving the financial needs of small to mid-sized businesses and owners, and investors in income-producing multifamily and commercial real estate located in the Bank's Target Markets of Los Angeles, Orange, Riverside and San Bernardino Counties, California. The Bank is built upon a combination of best-in-class technologies, which are tightly integrated to give clients a seamless, digital first, and transparent experience on par with money-center bank capabilities. The Bank's products, services, and solutions primarily include traditional commercial business, Small Business Administration (SBA), income property, and owner-occupied commercial real estate loan and deposit products, as well as treasury management, escrow, and Section 1031 exchange services and solutions. Genesis Bank is headquartered in Orange County, California, and can be found online at www.mygenesisbank.com. Genesis is an Equal Housing Lender and Member FDIC.
Cautionary Statement
This press release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including but not limited to statements regarding the anticipated business plans, product offerings, service levels, and financial condition of Genesis Bank and Excel Bank, pro forma financial projections and expectations of future performance of Genesis Bank. The use of any of the words 'achieve,' 'anticipate', 'continue', 'estimate', 'expect', 'benefits,' 'expands,' 'may', 'will', 'would', 'project', 'plans', 'should', 'believe' and similar expressions are intended to identify forward-looking statements. All statements included herein, other than statements of historical fact, involve various risks and uncertainties. Risks and uncertainties include, without limitation: the possibility that the anticipated benefits of the transaction are not realized when expected or at all, including as a result of the impact of, or problems arising from, the integration of the two companies or as a result of the strength of the economy and competitive factors in the areas where Genesis Bank does business; potential adverse reactions or changes to business or employee relationships, including those resulting from the announcement or completion of this transaction; and the potential impact of general economic, political or market factors on the companies or the transaction and other factors that may affect future results of Genesis Bank. There can be no assurance that such statements or information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements or information. Genesis Bank 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 and does not accept responsibility for the adequacy or accuracy of this release.
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