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TomatoBank Receives Top Performance Honors

Bank Rated Five-Stars by Leading Firm
10/09/2007

ALHAMBRA, California -- TomatoBank, Los Angeles' leading multi-ethnic bank, today announced that it has achieved a five-star Bankrate.com Star Rating and a "1" CAEL rating as of June 30, 2007, both "Superior" and top ratings for banks and thrifts rated by Bankrate.com, the Web's leading aggregator of financial rate information.

The Safe & Sound Rating System is Bankrate.com's proprietary, analytical product that assesses the financial condition of banks, thrifts and credit unions. Bankrate's Star Rating is an independent resource to assist consumers in making important financial decisions. Bankrate.com assigned TomatoBank the best possible rating - Five Stars, ranking TomatoBank as "Superior."

Bankrate.com also assigned TomatoBank a CAEL Rating of "1." The rating is based on tests of TomatoBank's capitalization, asset quality, earnings and liquidity ("CAEL"). Using publicly available, quarterly data from the Federal Deposit Insurance Corporation, Office of Thrift Supervision and the National Credit Union Administration, the CAEL Program assigns a value to each of the Safe & Sound CAEL categories and calculates a composite rating for each institution. Bankrate.com assigned TomatoBank the best possible rating, again ranking TomatoBank as "Superior."

According to the Bankrate.com report, "for the one year period ended June 30, 2007, the bank reported a strong rate of growth in equity capital. Balance sheet structural changes, through the one year period of time ended June 30, 2007, have improved the bank's capital position."  The Bankrate.com report additionally states that "we have noted that the bank's profitability improvement, between the first half of 2006 and the first half of 2007, well exceeded the banking industry peer comparison."

"Bankrate.com's report confirms what every TomatoBank team member knows - that focus, dedication and creativity results in success and reward.  And our strategy will continue to ensure TomatoBank's success" said Chairman and Chief Executive Officer Dr. Stephen Liu. "We are all very optimistic about our future and we look forward to continued growth and success."

With total assets approaching $450 million, TomatoBank's growth rate has consistently surpassed 35% per year.  TomatoBank was recently ranked 58th among all California banks in terms of return of assets during 2006.  This ranking was an improvement from its 2005 ranking of 182nd.

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




 

 


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