Manufacturers Bank Reports 2013 Earnings

  Manufacturers Bank Reports 2013 Earnings

Business Wire

LOS ANGELES -- March 28, 2014

Manufacturers Bank (the Bank), a California commercial bank with total assets
of $2.3 billion, is a wholly owned subsidiary of Sumitomo Mitsui Banking
Corporation (SMBC), which in turn is a wholly owned subsidiary of Sumitomo
Mitsui Financial Group (SMFG). The Bank reported net income for the year ended
December 31, 2013 of $7.9 million compared to $5.8 million in 2012. Increased
earning assets, a modestly improved net interest margin and gain on sale of
other assets resulted in favorable year over year earnings performance.

In 2013, the Bank maintained its strategic focus on loan growth and achieved a
third consecutive historic benchmark year. As of December 31, 2013, total
loans were $1.57 billion, a $240.4 million or 18.1% increase over year end
2012 total loans of $1.33 billion. Commercial and Industrial loans totaled
$908.3 million at December 31, 2013, an increase of $141.2 million over year
end 2012, and represent 57.9% of the overall gross loan portfolio. Real Estate
loans totaled $635.9 million at December 31, 2013, an increase of $100.8
million over year end 2012, and represent 40.5% of the overall loan portfolio.

Credit quality remained exceptional through 2013. Credit quality is reflected
in the percentage of non-accrual loans to total loans of 0.19% as of December
31, 2013. The allowance for credit loss ratio remains satisfactory at 1.52% as
of December 31, 2013.

Capital remained strong as evidenced by Tier 1 and Total risk-based capital
ratios of 15.66% and 16.91%, respectively; both ratios exceed the minimum
requirements of a well-capitalized institution of 6% and 10%, respectively.

Message from Naresh Sheth, President & COO

Naresh Sheth, President and Chief Operating Officer, commented, "I am very
pleased to report the Bank’s sound earnings performance in 2013. As a result
of the cohesive teamwork of our dedicated staff, the Bank was able to enjoy a
third consecutive year of historic loan growth. Along with the increase in
earning assets, the Bank maintained remarkable asset quality. Our Bank
continues to enjoy strong capital and liquidity and a solid customer base.

"Our continued strong credit quality and financial strength could be
accomplished only because of our experienced senior management team, a core of
experienced bankers and our dedicated personnel. This has allowed our Bank to
maintain strong banking relationships with existing as well as many new
customers. We continue our dedication to supporting the traditional service
values of a financially strong and stable business bank by providing a full
array of excellent products and services in a timely, flexible and responsive

"We sincerely thank our customers for giving us an opportunity to serve them
for over 50 years and our staff for their dedication and valued service."

Manufacturers Bank has been operating mainly in Southern California,
consistently delivering tailored financial solutions that enhance the economic
well-being 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, Glendale, San Jose, City of Industry, Torrance and Newport Beach.

Member FDIC and SBA Preferred National Lender
Equal Opportunity Lender

All statements in this release, except for historical facts, 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.


Manufacturers Bank
Cindy Rude
SVP, Marketing & Product Development Manager
Karen Abajian
EVP, Chief Financial Officer
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