Fremont Bank Releases Annual Earnings Report for 2012

Increased community lending, charitable giving accompany record earnings

FREMONT, Calif. February 8, 2013 - Fremont Bank , today released its annual earnings report for 2012—a year of record earnings, increased residential and commercial lending and strong community giving with nearly $1 million dollars donated to local charities.

2012 Financial Highlights

  • Net income of $86.2 million—a 75 percent increase from 2011
  • A record year of $7 billion for residential mortgage originations
  • Commercial loan originations of $339 million, a 46 percent increase over 2011
  • Deposits balances of $2.1 billion at December 31, 2012 an increase of $140 million or 7.1 percent over 2011
  • Loan loss reserves of $43.9 million as of December 31, 2012, a healthy 2.7 percent of loans
  • Tier 1 leverage ratio of 9.9 percent, significantly above the regulatory standard

As a result of continuing strong support from the communities it serves, Fremont Bank enjoyed a year of unprecedented earnings. In generating a record $7 billion in residential loans, the Bank helped thousands of local residents to purchase homes or save money by refinancing at historically low interest rates. Deposit balances rose in 2012 and commercial lending increased by 46 percent to $339 million.

The Bank’s strong performance in 2012 was accompanied by contributions of nearly $1 million to local non-profits from both Fremont Bank and the Fremont Bank Foundation. Named one of the Bay Area’s “Most Generous Companies” for eight years running, Fremont Bank almost doubled charitable contributions from 2011. Fremont Bank also maintained its capital levels significantly above the regulatory standards for well capitalized banks and it has not reduced its robust reserves for loan losses.

President Andy Mastorakis noted, “We thank our clients for their continued loyalty and confidence in Fremont Bank. Our solid performance in 2012 means we are looking to expand our banking, lending, and investment services to more clients in 2013. In particular, we are especially well positioned to increase our business lending. Fremont Bank has added additional Relationship Managers and committed more resources to capitalize on our improving local economies.”

About Fremont Bank

Fremont Bank ( is a leading retail and commercial bank, California mortgage lender, award-winning top philanthropic business and consistently ranks in Bay Area News Group’s “Top Bay Area Workplaces.” Founded in 1964, Fremont Bank is one of the oldest independent family-owned and managed banks in the state and focuses on personalized service for clients. It has 18 branches across the counties of Alameda, Contra Costa, Santa Clara, San Francisco, and Monterey with loan production offices in Sacramento and Los Angeles counties. Find Fremont Bank on Facebook at and on Twitter at @FremontBank.

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