TomatoBank opens new Arcadia branch
By Rodney Tanaka Staff Writer
6/02/2007

ARCADIA - TomatoBank planted its latest seed, opening a new branch in Arcadia Saturday. TomatoBank has eight branches, including regional offices in Industry and Alhambra. "It's a strategic location between the two regional centers, and there's a significant ethnic population in the Arcadia community," said Dr. Stephen Liu, company CEO and chairman of the board. "We feel that it really allows the bank the opportunity to expand in the Arcadia community." The branch, at 1317 S. Baldwin Ave., will hold a grand opening ceremony from 11 a.m. to 1 p.m. Saturday and will open for business Monday. Staff members have a working knowledge of Arcadia, either living in the area or having worked at other local banks, said Helen Wu, business development manager and manager of the Arcadia branch.

ONE OF THE BUNCH: Stephen Liu, president and CEO of Alhambra-based TomatoBank, is seen at the new location on Baldwin Avenue in Arcadia on Wednesday. The company is growing rapidly and now offers no-fee visa cards with each account.

 

Customers sit down and receive individual service without waiting in lines, she said.

"We do provide really personalized service," Wu said.

Personal service is a basic element of the bank's culture, Liu said.

The Arcadia branch will have an ATM to serve people in the retail center, he said.

TomatoBank has directors and shareholders who live in Arcadia, Liu said.

"Arcadia represents a location for our bank to grow in the San Gabriel Valley," he said.

Founded in 2000, has about $410 million in assets and is expected to approach $1 billion by the end of the decade, according to the bank.

The bank was also ranked 58th for return on average assets out of all California financial institutions, Liu said. That marked a significant improvement from the previous ranking of 182.

The company managed to improve its ranking while growing and expanding, Liu said.

TomatoBank is also active in the community, providing summer internships through the Urban Education Partnership and sponsoring financial literacy programs for the American Junior Golf Association.

Additional information is available at http://www.whittierdailynews.com

Tomatobank (www.tomatobank.com) is Los Angeles' dynamic, leading multi-ethnic bank.