It seems that every week brings another twist and turn to news about the current state of the US economy and the impact it is having on corporations and consumers alike.
It is true; we are in a tough economic environment, especially for financial institutions. But the good news is that things are going well here at Alta Alliance. Our parent company, Western Alliance Bancorporation, continues to be profitable during these challenging times, and our bank continues to prosper.
We have had strong deposit growth, and as a result have money to lend to credit-worthy customers. Right now, we see our role as providing liquidity to the market of customers who have good credit scores, a history of stable cash flow and, if real estate is their investment, seasoned properties. Whether they want to purchase commercial real estate, expand their business or simply buy a new home, our customers know they have a partner in us and as their bank we will work hard to help them realize their financial goals.
As of June 30, 2018, we had $108 million in assets and $57 million in loans. During the quarter, deposits increased $1.3 million and loans grew $12 million. These results, as always, are due to the dedication, creativity and hard work of our entire staff.
Our quarter was not only marked by good business results but also by the first annual "AllianceLinks," a golf tournament and networking opportunity for our top customers and prospects. It was a big success, and we already have plans in place for next year's event. You'll find a brief article about the event in this newsletter.
As we enter the third quarter, we remain focused on our mission and our business goals, and we appreciate your continued support.
Arnold Grisham
Chief Executive Officer
AD Campaign
If you listen to the Oakland A's pre-game show, "Right Off the Bat," or read local magazines and newspapers you may have noticed that Alta Alliance Bank is telling its story through ads this year. Since the beginning of the year, the bank has periodically placed targeted ads in specific media outlets to convey its message of service and customer satisfaction to the public.
Oakland Magazine has run ads featuring our relationship managers and private bankers with a headline proclaiming that "We give you our best in banking services." The first ad ran in the annual "Best of the East Bay" issue of that magazine. In August, the ad is running again, with an additional Ad Profile of the bank featuring Relationship Manager Daryle Whyte with client Horizon Water and Environment. Diablo magazine highlights our expertise in serving the medical community, with an ad featuring Private Banker Janet Kenny and Relationship Manager Dorina Reid. And the Oakland A's spots, which run through October, feature e-deposit and other business services. Additional ads in newspapers and magazines have featured real customers with testimonials about the bank and bankers who serve specific communities. In the second half of the year, the bank will be featured in trade publications that reach specific audiences such as nonprofit organizations and churches.
Alliance Links
In June, the bank hosted its First Annual "AllianceLinks" golf tournament at Sequoyah Country Club in Oakland. This networking event was invitation-only to top customers who qualified with certain deposit or loan criteria, and nearly 100 enthusiastic golfers turned out. Throughout the course, players found treats at selected holes to refresh them-a "Cabo Wabo" hole offering Margaritas, chips and salsa; an "Energy" hole outfitted with trail mix and chilled candy bars; and a "Vintner" hole featuring wine, fruit and crackers. At day's end, everyone gathered for cocktails and hors d'oeuvres, and a presentation of prizes. Five players won prizes for Individual Net Competition and the top three teams won prizes for Four-Person Scramble. Response from customers and prospects was uniformly enthusiastic, so there will be a second annual AllianceLinks!
SVP Glen Lezama (left) enjoyed a day on the links with bank clients Mike Piasente, and Lisa and Bob Tuck.
Clients Len Goode (left), Jim Falaschi, Ces Butner formed a foursome with SVP Ron Haskins.
SVP Kiran Rai (in green shirt) enjoyed friendly competition with clients Kanwar Bagai and Naresh Kapahi and guest Jai Singh.
