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Press Release

Presidio Bank Reports Fifth Consecutive Profitable Quarter

Company Release - 5/3/2011 11:55 AM ET

SAN FRANCISCO--(BUSINESS WIRE)-- Presidio Bank (“the Bank”) (OTCBB:PDOB), a locally-owned business bank, reported unaudited first quarter net income of $317,121, or $0.08 per share, a 75% increase over the first quarter of 2010. This represents the fifth consecutive profitable quarter for the Bank.

“While asset growth was modest during the quarter, we are pleased with our continued revenue growth and expanding net interest margin,” stated Steve Heitel, Presidio Bank President & CEO. “In addition, we made strategic expenditures in marketing that we expect will allow us to better leverage our brand going forward.”

The Bank improved its net interest margin to 4.50% for the quarter ended March 31, 2011, as compared to 4.22% for the first quarter of 2010. Revenue increased $704,584 from the first quarter of 2010 to $3,323,212 while expenses grew $337,475 in the same period.

Total assets increased to $294,577,961, up $3,053,405 from December 31, 2010 and up $37,405,764 from March 31, 2010. Loans declined by $2,219,942 during the first quarter of 2011 but grew by $41,320,712 from March 31, 2010. Total deposits increased by $3,052,214 for the quarter and by $40,088,839 from March 31, 2010.

“We have the privilege of serving an increasing list of high quality clients,” said Jim Woolwine, Presidio Bank Chairman and Founder. “Our growing track record of profitability stems from our commitment to this relationship model.”

First Quarter 2011 Financial Results



Quarter Ended

Quarter Ended

Quarter Ended






Total Assets

$294,577,961 $257,172,197 15% $291,524,556 1%


256,392,350 215,071,638 19% 258,612,292 -1%


250,419,332 210,330,473 19% 247,367,118 1%

Shareholder’s Equity

39,793,676 38,473,315 3% 39,388,378 1%

Book Value Per Common Share

7.06 6.86 3% 7.07 0%


3,323,212 2,618,628 27% 3,220,255 3%

Provision for Loan Loss

228,316 0 295,500 23%

Total Operating Expenses

2,774,775 2,437,300 -14% 2,543,889 -9%

Net Income

317,121 181,328 75% 380,866 -17%

Earnings Per Common Share

$0.08 $0.05 76% $0.09 -11%

Net Interest Margin

4.50% 4.22% 7% 4.37% 3%

Efficiency Ratio

83.50% 93.08% 10% 78.47% -6%

Return on Average Assets

0.44% 0.27% 63% 0.53% -17%

Return on Average Common Equity

4.46% 2.65% 68% 5.30% -16%

About Presidio Bank

Presidio Bank provides business banking services to small and mid-size businesses, including professional service firms, real estate developers and investors, and not-for-profit organizations, and to their owners who desire personalized, responsive service with access to local decision makers. Presidio Bank offers clients the resources of a large bank combined with the personalized services of a neighborhood bank. Presidio Bank is headquartered in San Francisco, California and currently operates four banking offices in San Francisco, Walnut Creek, San Rafael and Palo Alto. More information is available at Presidio Bank is a member of FDIC and an Equal Housing Lender.

This press release contains certain forward-looking statements that involve risk and uncertainties. These statements are identifiable by use of the words “believe,” “expect,” “intend,” “anticipate,” “plan,” “estimate,” “project,” or similar expressions. The risks and uncertainties that may affect the operations, performance, development, growth projections and results of Presidio Bank’s business include, but are not limited to, the growth of the economy, interest rate movements, timely development by Presidio Bank of technology enhancements for its products and operating systems, the impact of competitive products, services and pricing, client-based requirements, Congressional legislation, changes in regulatory or generally accepted accounting principles and similar matters. Readers are cautioned not to place undue reliance on forward-looking statements which are subject to influence by the named risk factors and unanticipated future events. Actual results, accordingly, may differ materially from management expectations.

Source: Presidio Bank


Presidio Bank

Steve Heitel, 415-229-8428

President & CEO


Ed Murphy, 415-229-8403




Annette Gelinas, 415-229-8415 (o)

925-787-2956 (c)