Discovery Bancorp

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• CommerceWest Bank Announces Completion of the Merger with Discovery Bancorp and Bank

  - 2009-07-24

  IRVINE, Calif. -- CommerceWest Bank (OTCBB:CWBK) announced that as of today, it completed its previously announced merger with Discovery Bancorp and Discovery Bank (OTCBB:DVBC), which had approximately $152 million...

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• Small change: shareholders of Discovery Bancorp and CommerceWest Bank of Irvine approved the sale of Discovery in a stock exchange deal that totals about $10 million

  - 2009-07-06

  Small Change: Shareholders of Discovery Bancorp and CommerceWest Bank of Irvine approved the sale of Discovery in a stock exchange deal that totals about $10 million. The transaction awaits the expected blessing of regulators ... Wells Fargo Bank gave a $200,000 grant to the California Hispanic Chambers of...

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• $12m purchase offer may bail out troubled Discovery Bancorp: conservative '08 strategy enabling CommerceWest to nearly double in size

  - 2009-03-16

  The troubled San Marcos financial institution Discovery Bancorp agreed March 6 to a buyout offer from CommerceWest Bank of Irvine that could be approved by regulators and shareholders by the second quarter of 2009. Under the arrangement, each outstanding share of Discovery Bancorp will be converted into...

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• CommerceWest Bank and Discovery Bancorp Jointly Announce Merger

  - 2009-03-06

  Ivo A. Tjan, Chairman and Chief Executive Officer of CommerceWest Bank (OTCBB: CWBK), N.A. and Frank J. Mercardante, President and Chief Executive Officer of Discovery Bancorp (OTCBB: DVBC) and its principal subsidiary, Discovery Bank, jointly announced today that the two financial institutions have executed a definitive merger agreement. This...

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• Discovery Bancorp Announces Results of Operations and Sale of Celtic Capital Corp

  - 2009-01-24

  SAN MARCOS, Calif. -- Discovery Bancorp (OTCBB:DVBC) today announced 2008 year-end and fourth quarter results. The Company also reported that the previously announced sale of its financing company subsidiary, Celtic Capital Corp., was completed in December. The Company reported a net loss of $5.413 million, or $2.84 per diluted...

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• Discovery Bancorp shedding pieces to bump capital reserves

  - 2008-12-08

  Saddled with an increasing number of problem loans and losing money, San Marcos-based Discovery Bancorp is selling off parts of the business to boost capital reserves. On Nov. 26, the company said it arranged the sale of Celtic Capital, its Santa Monica commercial finance unit, for an undisclosed price...

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• Banks striving to counter slew of problem loans: tactics include bolstering reserves, selling property

  - 2008-08-25

  Two more local banks are feeling the pain from the rising numbers of problem loans. Discovery Bancorp reported holding nearly 6 percent in problem loans as of June 30. Discovery said July 25 that it sold its headquarters building in San Marcos and is leasing back the space from...

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• Discovery Bancorp Reports Sale and Lease Back of Building, Second Quarter Results and Pending Capital Raise

  - 2008-07-25

  SAN MARCOS, Calif. -- Discovery Bancorp (OTCBB:DVBC), holding company for Discovery Bank and Celtic Capital, reported today that it has entered into a transaction for the sale and leaseback of the commercial building housing the Bank's headquarters and administrative operations in San Marcos for a sum of $8.4 million. Scheduled...

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• Discovery Bancorp Reports First Quarter Profit

  - 2008-04-24

  SAN MARCOS, Calif. -- Discovery Bancorp (OTCBB:DVBC) and its operating subsidiaries, Discovery Bank and Celtic Capital, today reported net income for the first quarter of 2008 of $116 thousand, or $0.06 per diluted share, compared with net income of $337 thousand, or $0.17 per diluted share for the first quarter...

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• Discovery Bancorp Appoints Richard Chan Director

  - 2008-03-19

  SAN MARCOS, Calif. -- Discovery Bancorp (OTCBB:DVBC) announced today that Richard Chan has been appointed director of the Bancorp and its primary subsidiary, Discovery Bank. Mr. Chan is President and CEO of Embi Tec, a San Diego based manufacturer of life science research products for DNA analysis. He was...

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