California Republic Bancorp (fka CRPB)

[Enterprising Investor]

CRPB Announces the Successful Completion of Its First Securitization of Nearly $183 Million of Prime Automobile Loans (11/08/12)

NEWPORT BEACH, Calif.--(BUSINESS WIRE)--California Republic Bancorp (OTCBB:CRPB) announced that its wholly-owned subsidiary, California Republic Bank, closed its first securitization today amounting to nearly $183 million of prime indirect automobile loans. In the securitization, $182.56 million in notes backed by California Republic’s automobile loans were sold to qualified institutional buyers in a private offering pursuant to Rule 144A of the Securities Act.

The Bank also announced that it sold all remaining residual interests in the securitized receivables through a sale of the underlying ownership certificates of the securitization trust through the private placement transaction. California Republic Bank will continue to service the underlying receivables on behalf of the noteholders and certificateholders.

“This is an important milestone for our company,” commented Jon Wilcox, CEO. “It reflects the strong growth in our indirect automobile platform since its start in July 2011.”

President John DeCero added, “By accessing the securitization markets as we have in this transaction, it has provided us the ability to continue to accelerate growth while efficiently maximizing the strong capital base of the Bank.”

This announcement of the sale of the notes included in the securitization and the ownership certificates of the securitization trust appears as a matter of record only. Credit Suisse LLC acted as the structuring agent and the sole bookrunner for this transaction, and Mitchell Silberberg & Knupp LLP acted as issuer’s counsel.

About California Republic Bancorp:

California Republic Bancorp is the holding company for California Republic Bank. California Republic Bank provides loans, deposit and cash management services to individuals, companies, and their owners throughout Southern California. The Bank offers direct access to executive management and unparalleled responsiveness with the goal of establishing long-term relationships. The Bank operates three full-service regional branch hubs based in Newport Beach, Beverly Hills and Westlake Village.

The Bank also has an indirect auto finance division headquartered in Irvine, California, which purchases automobile installment sale contracts from both franchised and independent automobile dealerships.

For more information, contact Jon Wilcox, Chief Executive Officer, or John DeCero, President, at 949-270-9700 or visit the company’s website at www.crbnk.com.

http://www.businesswire.com/news/home/20121108006525/en/California-Republic-Bank-Announces-Successful-Completion-Securitization