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LA MESA, CA-Torrey Pines Bank, which opened for business in May 2003, has acquired a 28,000-sf lot in La Mesa with plans to build a new branch here.

The community bank has shelled out $1.4 million for the parcel, which is located at 8379 Center Dr. Completion of the 6,000-sf branch facility is currently scheduled for April 2004. At build-out, the new branch will be managed by John Maguire, who is a senior vice president with Torrey Pines Bank.

The La Mesa branch will be the third for Torrey Pines Bank, which currently has its main office located in Downtown San Diego and another branch in the works for the Carmel Valley region. That office is expected to open this November.

With a lending capacity of up to $12 million per relationship, Torrey Pines Bank is a full-service community bank that specializes in servicing the business community throughout San Diego County. Capitalized with $20 million, it is part of a $1.2-billion bank holding company.

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