CommerceWest Bank Earns an "A" in Financial Strength Ratings
02 2월 2009 - 9:07PM
Marketwired
CommerceWest Bank (OTCBB: CWBK) today announced that it has
received a financial strength rating of "A" or "Excellent" from
TheStreet.com Ratings, the nation's leading independent provider of
ratings and analyses of financial services companies, mutual funds,
and stocks.
According to TheStreet.com Ratings, a financial strength rating
of "A" or "Excellent" recognizes CommerceWest Bank as an
outstanding institution offering excellent financial stability and
security for its clients, vendors, and employees. It illustrates
that the company has maintained a conservative stance in its
business operations and underwriting practices as evidenced by its
strong equity base, top-notch asset quality, steady earnings, and
high liquidity.
"Although the past year has been challenging, CommerceWest Bank
recently reported its 24th consecutive quarter of profitability,
which is a distinctive accomplishment in today's market turmoil,"
said Ivo Tjan, chairman and CEO of CommerceWest Bank. "We have
weathered some turbulent market conditions since our inception, but
by adhering to our original strategy we have avoided the pitfalls
that are now plaguing other financial institutions. This
recognition is a testament to the strength and longevity of our
organization, and serves as further validation for our clients --
and the industry as a whole -- that CommerceWest Bank is stable and
well-positioned to persevere."
Each quarter, TheStreet.com Ratings evaluates the financial
strength of more than 15,000 institutions, including banks,
brokerage firms, life, health and annuity insurers, as well as the
risk-adjusted performance of more than 12,000 mutual funds and
6,000 stocks. Fewer than four percent of the nation's banks and
thrifts meet TheStreet.com Ratings' criteria for exceptional
financial strength, making this a coveted distinction.
"TheStreet.com Ratings' proprietary model uses more rigorous
standards than other rating agencies, placing greater emphasis on a
company's future financial solvency and its ability to withstand
severe economic adversity," said Melissa Gannon, vice president of
insurance and bank ratings for TheStreet.com Ratings. "For this
reason, a company receiving our highest financial strength rating
truly demonstrates itself to be among the industry's elite."
About CommerceWest Bank
Headquartered in Irvine, Calif., CommerceWest Bank provides a
wide range of specialized commercial banking and financial services
to entrepreneurs and small- to mid-sized businesses with revenues
up to $100 million. Our personal business bankers work in tandem
with clients to create a complete banking experience customized to
their specific needs in a low-stress environment. We offer a
comprehensive line of commercial banking and Signature Services
including on-site concierge, Remote Deposit Solution, Internet
banking, lines of credit, term loans, commercial real estate
lending, SBA lending, as well as cash and treasury management.
Regional offices are located throughout Southern California in
Orange County, Inland Empire, Los Angeles. For more information,
call (949) 251-6959 or visit www.cwbk.com.
Bank Contact: CommerceWest Bank Mr. Ivo A. Tjan, CEO Telephone:
(949) 251-6959 Facsimile: (949) 251-6957 E-mail: Email Contact
Website: www.cwbk.com "Bank on the Difference"
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