George Leis leads CalPrivate’s expansion into region
Central Coast residents have a new banking option as CalPrivate Bank opens a new branch in Montecito led by veteran banker George Leis.
Leis, who will serve as the executive vice president and market president, has a long career in Santa Barbara County, most recently serving as the president and COO of Montecito Bank & Trust since 2016. Leis has also served as president of Santa Barbara Bank & Trust and regional president of Union Bank, which purchased Bank & Trust in 2012.
“I am honored to be joining the CalPrivate team, who bring creative, high touch, timely, customized solutions to their clients,” Leis said in a press release.
CalPrivate is the principal operating unit of Private Bancorp of America, based in La Jolla.
The bank’s parent has been putting up some impressive results recently, including first-quarter net income of $10.6 million up substantially from $7.9 million in the first quarter of 2024. The company’s return on average assets was 1.74% and its return on average tangible common equity was 18.74%, at the top of its class for banks with $2 billion to $10 billion in assets.
Earnings per share came in at $1.80 up from $1.36 in the first quarter of 2024 and the shares, traded on NASDAQ, moved up 60 cents to $52.50 after the announcement.
Deposits were $2.19 billion as of March 31, up 15.1% year over year and the bank said it reduced its reliance on brokered deposits.
Provision for credit losses for the first quarter of 2025 was $0.3 million, compared to $0.2 million for the first quarter of 2024. Tangible book value per share was $40.29 as of March 31, 2025, an increase of $1.89 since yearend. Tangible book value per share increased 4.9% quarter-over-quarter and 20.1% year over year.
The bank has a concierge approach to private banking with a focus on high-net-worth individuals, professionals, closely held businesses and real estate entrepreneurs. It also has an active SBA lending unit and offers treasury management services.
With relatively branches located in wealth enclaves such as Beverly Hills, Newport Beach, Coronado, La Jolla and San Diego, it leverages technology to extend its geographic reach across Southern California. Opening the Montecito office fits the pattern that’s been a key part of its strategy of pursuing measured growth in niche markets.
“The core values of relationships, solutions and trust align directly with the needs of our Santa Barbara Community,” Leis said
CalPrivate Bank president and CEO Rick Sowers said he has known Leis for years and added he is “a person of great character, with strong leadership qualities. His approach to relationship banking is exactly what we provide at Cal Private Bank, and we couldn’t be more pleased to partner with him and this great group of bankers,” he said.
The Montecito office will also include Dan Glaeser and Sarah McLelland, who will lead the relationship management team, while Emily Strawn will oversee operations for the new office.
“The passion George and his team have for building strong, long-standing client relationships and supporting their community is a perfect match for our client-centric, solution-driven approach,” said Paul Azzi, chief banking officer of CalPrivate Bank, in a press release.
email: [email protected]. Editor Henry Dubroff contributed to this article.
