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Article Excerpt
When Paul Rodeno, president and chief executive officer of Security Business Bank of San Diego, created his business plan back in 2002, he envisioned a future complete with cutting-edge technology independent of brick-and-mortar banks.
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"It hasn't completely become a paperless society and, in fact, society may never abandon paper, but as far as traditional banks go we're much different," Rodeno said. "As far as doing away with banks, it won't happen because you need people to support the technology."
With three branches in San Diego--downtown, Carmel Valley and Carlsbad Rodeno has taken his community bank in five years to a bank with $165 million in assets and 37 employees from a startup. For the first quarter of 2007, the bank reported its net income rose to $347,000 from $242,000 reported in the first quarter of 2006.
Security Business Bank offers customers accessibility to executive-level advisors, "speed-of-business" responsiveness and financial innovation and the bank's client base is comprised of growth-oriented San Diego organizations in an array of industries.
"I think the products we offer really work better with business accounts," Rodeno said. "We're...
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