Bailout Bank Bio: Manhattan Bancorp

May 28, 2009 | 2 min read | Print Article

Manhattan Bancorp operates as the bank holding company for Bank of Manhattan, N.A. that provides general commercial banking services to small and medium-sized businesses and professionals in California. The company offers a range of deposit products, including non-interest bearing demand deposit and interest bearing checking accounts, regular savings accounts, and certificates of deposit; and various commercial real estate and consumer loans. It also provides cash management services to its commercial checking account customers; and wire transfer, electronic bill payment, and overdraft protection services. In addition, it offers Internet banking services, which allow customers to review their account information, issue stop payment orders, pay bills, transfer funds, order checks, and inquire regarding credit products electronically. The company provides its services in South Bay, the Westside, and the Los Angeles airport areas of Los Angeles County, California. Manhattan Bancorp was founded in 2006 and is headquartered in El Segundo, California.

In December Manhattan Bancorp announced that it would participate in the Treasury Department’s Capital Purchase Program. Under the program the company received $1.7 million in exchange for preferred stock.

Resources

Bank Bio Chart | Financial Documents | Federal contracts

Lobbying reports | Political Contributions | Related Articles

Bailout Bank Bio: Manhattan Bancorp (Bank of Manhattan)


Federal Equity Investment	$1.7 million
Total Revenue	$3.1 million (2008) $612 thousand (2007)
Net Income	-$4.4 million (2008) -$2.2 million (2007)
Number of Employees	24
Corporate Headquarters	El Segundo, California
Business Sector	Bank
Officers and Directors	Mr. Jeffrey M. Watson, CEO, President, Director Other Officers and Directors
Corporate Website	http://www.thebankofmanhattan.com/
Executive Compensation	Manhattan Bancorp