Total Assets Top $75 Million at Endeavor Bank

San Diego's first new community bank in 10 years continues to grow

Endeavor Bank EDVR, having completed its third quarter of banking operations since opening for business on January 22, 2018, reported continuing strong loan and deposit growth. Unaudited results as of the September 30, 2018, reporting date show total assets of $75.1 million compared to $50.3 million at June 30, 2018, an increase of $24.8 million, or 49%. Deposits totaling $52.9 million nearly doubled since last quarter-end and included $21.3 million in non-interest bearing demand deposit accounts, making up a healthy 40% of the Bank's deposit portfolio. Total gross loans grew to $36.5 million at September 30, 2018, more than doubling since the last quarter-end.

Dan Yates, CEO, stated, "After just eight full months of commencing banking operations, we are very pleased with Endeavor Bank's performance thus far. Our balance sheet growth is tracking slightly ahead of plan, and we continue to generate quality originations in both the deposit and loan portfolios. Having said that, we do want to temper the exuberance just a bit. Based on the underlying business cycles of some of our customers, we believe that a portion of our recent deposit growth is transitory, and we expect it to redeploy off our balance sheet early in the fourth quarter. Even after deducting these, what we call temporary deposit fluctuations, our overall deposit growth was still exceptionally strong for the quarter." Mr. Yates further stated, "We continue to build our banking platform offering the latest technology, coupled with our consultative banking approach, to provide tangible value to our business owner clients."

About Endeavor Bank

Endeavor Bank is primarily owned and operated by San Diegans for San Diego businesses and their owners. The bank's focus is local: local decision-making, local board, local founders, local owners, and relationships with local clients in the San Diego metropolitan market place and its surrounding areas.

Headquartered in downtown San Diego in the landmark Symphony Towers building, the bank also operates a loan production office in Carlsbad. Endeavor Bank offers traditional business banking services across a broad spectrum of industries and specialties. Unique to the bank is its consultative banking approach that partners business clients with Endeavor Bank's senior management. Together, we build strategies and provide resources that solve problems, plan for the future, and help clients' efforts to grow revenues and profits. Visit www.bankendeavor.com for more information.

Forward-Looking Statements

This press release includes "forward-looking statements," as such term is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on the current beliefs of the Bank's directors and executive officers (collectively, "Management"), as well as assumptions made by and information currently available to the Bank's Management. All statements regarding the Bank's business strategy and plans and objectives of Management of the Bank for future operations, are forward-looking statements. When used in this press release, the words "anticipate," "believe," "estimate," "expect" and "intend" and words or phrases of similar meaning, as they relate to the Bank or the Bank's Management, are intended to identify forward-looking statements. Although the Bank believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. Important factors that could cause actual results to differ materially from the Bank's expectations ("cautionary statements") are the loss of key personnel, lower lending limits and capital than competitors, regulatory restrictions and oversight of the Bank during its "de novo" phase, the secure and effective implementation of technology, risks related to the local and national economy, the Bank's implementation of its business plans and management of growth, loan performance, interest rates, and regulatory matters, the effects of trade, monetary and fiscal policies, inflation, and changes in accounting policies and practices. Based upon changing conditions, if any one or more of these risks or uncertainties materialize, or if any underlying assumptions prove incorrect, actual results may vary materially from those described as anticipated, believed, estimated, expected or intended. The Bank does not intend to update these forward-looking statements.

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