Grandpoint Capital Reports First Quarter 2016 Earnings

Grandpoint Capital, Inc., the holding company for Grandpoint Bank, reported net income of $8.1 million for the quarter ended March 31, 2016. In addition, the board of directors declared its second cash dividend payment of $0.12 per share, payable on or about May 24, 2016, to shareholders of record on Friday, May 6, 2016.

“Grandpoint Capital continued its strong performance during the first quarter,” said Don M. Griffith, Chairman and CEO of Grandpoint Capital, Inc., and Grandpoint Bank. “Our key performance metrics continue to demonstrate the Bank’s long-term strength. At March 31, 2016, our return on average assets was 1.03%, and our return on average tangible equity was 10.9%. We reported earnings per share (basic) of $0.25 and achieved tangible book value per share of $9.23 at the end of the first quarter. Our efficiency ratio of 53.8% reflects our success in managing expenses, as we continue to grow Grandpoint Bank.”

Total deposits at quarter-end were $2.5 billion and loans totaled $2.3 billion. Grandpoint’s capital ratios remain far in excess of the regulatory minimums, with a Leverage Ratio of 10.0% and Total Risk-Based Capital Ratio of 13.7% at March 31, 2016.

In March 2016, Grandpoint Bank received a superior 5-star rating from independent rating and research firm BauerFinancial for the eleventh consecutive quarter. The latest rating was based on December 31, 2015 financial data. The 5-star rating, for strength, stability and soundness, is only awarded to the nation’s strongest banks.

Grandpoint Capital, Inc. and Grandpoint Bank are headquartered in Los Angeles. Calif. Grandpoint Bank, along with its divisions Bank of Tucson, Regents Bank and The Biltmore Bank of Arizona, operates in southern California, Arizona and Vancouver, Wash.

More information about Grandpoint is available at www.grandpointbank.com.