First American Trust Selected as Exclusive Service Provider for San Diego Trust
August 12, 2003, SAN DIEGO
First American Trust, a member of The First American Corporation (NYSE: FAF) family of companies, today announced that it has entered into an agreement to be the exclusive provider of trust and investment management services for San Diego Trust Bank and its clients within San Diego County, Calif.
San Diego Trust Bank, a newly formed community bank currently organizing under State of California guidelines, expects to be operational in the fourth quarter of 2003. Under the terms of the agreement, First American will provide sophisticated fiduciary and investment management services that complement San Diego Trust Bank’s specialized credit and deposit services. The combined offering will present a full range of banking, trust, investment and real estate management services to San Diego Trust Bank clients, delivered in an individual, responsive and community-minded manner.
“We are very excited about this relationship and the opportunity to provide our customers with experienced professionals who can offer a wide variety of trust and investment services,” said Michael E. Perry, chief executive officer and president of San Diego Trust Bank. First American Trust executive vice president R. Daniel Banis added: “We’re looking forward to expanding our service in the San Diego community with San Diego Trust Bank, an organization that shares our commitment to providing the highest levels of service on a very personalized basis.”
First American Trust, a registered investment adviser headquartered in Orange County, Calif., is an affiliate of The First American Corporation, a Fortune 500 company also based in Orange County. With offices in San Diego, Rancho Bernardo, Los Angeles / Glendale, Newport Beach and Santa Ana, First American Trust has been providing investment management and trust services on a local, full-service basis for more than four decades.