LOS ANGELES--(BUSINESS WIRE)--50 years ago Manufacturers Bank opened its door to customers, serving the growing population in the city of Los Angeles, California. The Bank brought promise of a new quality of service to banking in Los Angeles with a dedication to and specializing in personal banking service to the business and professional community. Manufacturers Bank was formed by a group of banking entrepreneurs in downtown Los Angeles to serve the robust apparel industry.
On Wednesday, June 27th, Manufacturers Bank Corporate Headquarters Office located at 515 S. Figueroa Avenue, Los Angeles, California was presented with a special proclamation award for serving the community for 50 years. Rogelio Navar, the Senior Director for the Mayor of the City of Los Angeles, and Kathy Godfrey, the Chief of Staff for the City of Los Angeles, presented The Proclamation. Mayor of the City of Los Angeles Antonio R. Villaraigosa quoted, “As Mayor of the City of Los Angeles and on behalf of its residents it is my pleasure to congratulate Manufacturers Bank on the occasion of your 50th Anniversary Celebration. Best wishes for a memorable event and successful future.” City Councilwoman Jan Perry quoted, “Manufacturers Bank has been a committed partner in building the City of Los Angeles. For fifty years Manufacturers Bank has made our small and mid level business a major focus and that has formed the backbone of our local economy. The City of Los Angeles is made stronger because of their hard work and involvement in community interests. It is an honor to recognize the contributions Manufacturers Bank has made to the City of Los Angeles.” The event was filled with numerous activities, including: the presentation of The Proclamation to Mitsugu Serizawa, Chairman and CEO and Naresh Sheth, President and COO; a cake cutting ceremony, serving a cake created by King’s Hawaiian, a longtime client of Manufacturers Bank; refreshments were served from 9:30 AM until 3:30 PM; recognition by Manufacturers Bank of sponsors and partners; and special acknowledgement was given to Homeless Health Care of Los Angeles and Drew Child Development who offer community outreach programs focused on “giving back to our community.” The event proved to be one of “Los Angeles’s best city events” hosted by a local community bank.
Today, being the right-sized bank for middle market and corporate businesses is the foundation Manufacturers Bank is built on. Additionally, the bank is consistently one of the most financially sound banks in California and well capitalized. Over the years, the Bank’s scope has expanded to serve the specialized needs of California middle market businesses: manufacturers, wholesalers, distributors, importers, exporters, and service companies, including small businesses and professionals.
Financial status of Manufacturers Bank:
As of May 31, 2012 Manufacturers Bank, a wholly owned subsidiary of Sumitomo Mitsui Banking Corporation reported total assets of $2.01 billion.
Capital remained strong as evidenced by Tier 1 and total risk-based capital ratios of 18.33% and 19.60%, respectively, as of March 31, 2012; both ratios exceed the minimum requirements of a well-capitalized institution of 6% and 10%, respectively.
A message from our Chairman and CEO, Mitsugu Serizawa:
“We are proud and excited to celebrate 50 years of doing business in Los Angeles and we continue to look forward to being your bank of choice in this community. We especially want to thank our team of dedicated and hardworking employees and directors and of course our loyal clients and partners who have all contributed to our success over the years.”
A message from our President and COO, Naresh Sheth:
“Manufacturers Bank is celebrating our 50th Anniversary this year. We are very proud and excited to have achieved this remarkable milestone.
Our vision is to be the premiere regional business bank in the California marketplace. We are committed to provide a full array of superior products and services through our expert bankers. Additionally, we strive to be the 'bank of choice' for the middle market and professional service companies by establishing long term relationships with our customers. We are unique in the market, large banks do not offer the entrepreneurial company the kind of focus, attention and expertise we are able to provide and smaller banks cannot keep pace with a growing company’s increasing need for credit and cash management services.
At this time, we would like to 'Thank' our customers for their business and loyalty and our staff for their dedication and valued service. Without these two common threads it would not have been possible to reach this milestone anniversary of 50 years. Furthermore we are very grateful to share our success with our clients and community.
We invite you to join us in celebrating our '50 years of service.'”
Over the past fifty years Manufacturers Bank has played an integral part in developing and contributing to the Los Angeles Community. Please help us celebrate our 50th anniversary by giving back to our community by supporting these worthwhile causes with your donation.
Homeless Healthcare
www.manufacturers50.com/giving-back.php
Drew Child
www.manufacturers50.com/giving-back.php
Manufacturers Bank wants to give our sincere "Thank you" to our partners who generously contributed to our 50th Anniversary Celebration. Without them we could not have made this such a successful celebration!
American Printing
Kim Palismo
AmericanBus.com
Shuster Financial Group, LLC
Mark Shuster
626.578.0816
Danu Capital Group
Michael Toomey
DanuCapital.com
Frenkel & Co. Inc.
Michael S. Dow
Frenkel.com
Fundtech
Lou Swanson
FundTech.com
Iron Mountain
Karen Furnari
Ironmountain.com/
Loan Gallery
Sarkis Avedikian
818.552.4599 x 113
Q2 ebanking
Matt Flake
Q2ebanking.com
SBS Payroll
Matthew Whiteley
SBSPayroll.com
Superior Press
Kristi Ricketson
Superior-Press.com
TransFirst
Tricia Boezio
TransFirst.com
Manufacturers Bank, established in 1962, has been operating mainly in southern California consistently delivering tailored financial solutions that enhance the economic wellbeing of its middle market customers. Bauer Financial Inc., an independent bank rating company has awarded its highest depository rating, Superior 5 Star, to Manufacturers Bank.
Manufacturers Bank is headquartered in Los Angeles and operates from branch offices in Downtown Los Angeles, Little Tokyo, Beverly Hills, Encino, Warner Center, San Jose, City of Industry, Torrance, Newport Beach, and Ontario. Member FDIC.
All statements in this release, except for historical fact, should be considered forward looking, including statements about the Bank’s plans, goals, and future expectations for growth. Such statements are subject to changes in the economic, legal and regulatory environment, changes in product delivery and technology that may affect the Bank’s operations and continued evolution in the financial services industry.
Member FDIC
Equal Housing Lender
Equal Opportunity Lender
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