Circle Bank Stays Strong with Ties to Small Business

On Wednesday, Circle Bank, the Novato-based full-service financial institution with an office in San Rafael, reported net income of $510,000, a 39 percent increase from the same period in 2009 for the quarter ended June 30.

For the first six months of 2010, Circle Bank reported net income of $1,091,000, compared to $846,000 for the same period in 2009, an increase of 29 percent. 

Circle Bancorp, the privately held parent company of Circle Bank, reported second quarter 2010 net income of $279,000, a 6.1 percent increase from the same period last year.  At the end of the quarter, total net assets were $307.6 million, up 10 percent in the quarter and up 36 percent from the prior year.

 For the first six months of 2010 consolidated net income for the parent company was $738,000, an 18 percent increase from the first six months of 2009.

Kim Kaselionis, president and chief executive, said the bank has established itself as a leading U.S.  Small Business Administration lender in Marin and Sonoma counties by working closely with the business communities.

"The Obama administration has been pulling out all the stops to get local economies back on track," Kaselionis said. "At Circle we know our local community and that puts us in a position to to work out of the box but within the frame of regulations."

She encourages small-business owners to make appointments with Circle's branch managers and SBA experts to see if they can work together.

"Not every one can qualify but there is more than one way to achieve a goal," Kaselionis said. "We have made a conscious decision to help our businesses get active capital."

Kaselionis said businesses in San Rafael, the county's largest city, have had different experiences based on the industry they are in, but some just need a little help to get them through these difficult times.

She said consumer sentiment is beginning to change and, while they are concerned, they are beginning to relax about spending.

Restaurants are full, stores are busy, " Kaselionis said. "People are still kind of holding their breath but I think there is a lot of interest in supporting local restaurants, book stores and stationary stores."

Kaseliones said the bank is proud to have supported the local community while other banks have failed, withdrawn services of stopped providing programs such as SBA loans.