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Landmark National Bank Reports Profit for 2005 First Quarter
Published: Thu, 14 Apr 2005, 17:02:00 EDT
SAN DIEGO, Calif. -- (SEND2PRESS NEWSWIRE) -- Landmark National Bank (OTC BB: LMRK), which commenced operation on August 26, 2002, reports March 31, 2005 assets of $75,245,273 compared to March 31, 2004 assets of $48,864,564, an increase of 54%. As of March 31, 2005, loans totaled $52,405,039, compared with $22,398,302, an increase of 134%. During the same period, deposits increased from $41,200,020 to $68,664,645, an increase of 67%. The bank experienced a profit of $3,209 for the first three months of 2005, compared to a loss of $535,548 for the first three months of 2004.
On April 4, 2005, Landmark National Bank and Legacy Bank, N.A. announced that they have entered into an agreement and plan of reorganization and merger under which La Jolla-based Legacy Bank N.A would merge into Landmark National Bank, subject to the approval of the regulatory authorities and shareholders. The banks will operate under the Landmark National Bank name, and Ron Carlson and F.J. "Rick" Mandelbaum will continue their roles of Chairman/CEO and President of the merged institution. The banks will merge their La Jolla Offices into the Landmark National Bank office at 7817 Ivanhoe, La Jolla.
About Landmark National Bank
Landmark National Bank offers traditional full-service banking to individual customers, professionals and small- and medium-sized businesses. In addition to a variety of deposit accounts, the bank offers a mix of loan products that include business and professional loans, as well as Small Business Administration loans and consumer, installment, home equity, construction and real estate loans.
Landmark National Bank's headquarters are located at 937 Lomas Santa Fe Drive (I-5 and Lomas Santa Fe Drive) in Solana Beach. Hours are Monday through Thursday, 9 a.m. to 5 p.m., and Friday, 9 a.m. to 6 p.m. Call (858) 509.2700 or (800).509.4008. The La Jolla office is at 7817 Ivanhoe Avenue in La Jolla. Hours are Monday through Thursday, 9 a.m. to 5 p.m., and Friday, 9 a.m. to 6 p.m. Call (858) 332.1000.
For more information, contact info @ landmarknationalbank.com, or visit www.landmarknationalbank.com.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy securities. Any such offer or solicitation would be made only by a Prospectus.
Certain statements in this press release, including statements regarding the anticipated development and expansion of the Bank's business, and the intent, belief or current expectations of the Bank, its directors or its officers, are "forward-looking" statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. This risks and uncertainties include, but are not limited to, risks related to the local and national economy, the Bank's performance, regulatory matters and those discussed in filings by the Bank with the Office of the Comptroller of the currency.
NEWS SOURCE: Landmark National Bank
Send2Press® is the originating wire service for this story.
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REFERENCES: Landmark National Bank Reports Profit for 2005 First Quarter, Landmark National Bank, OTCBB: LMRK, San Diego, California, bank, Small Business Administration loans, real estate loans, Legacy Bank, N.A., Ron Carlson, F.J. 'Rick' Mandelbaum,La Jolla, small cap news, OTC BB LMRK, Apr 14, 2005.
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