Chief Executive Officer, Sunwest Bank
Fact: Gray and his wife rode the final week of the Tour de France this summer, completing five of its mountain climbs.
What is your view of the banking industry over the next 12 to 18 months? There will be more failures, especially among small and mid-sized banks. This will create pressure on the FDIC to cover the losses caused by the failed banks, which will affect the healthy banks in the form of increased assessments and pressure on profits. Banks such as Sunwest, which practice good lending standards and have built up their capital base, will be in a good position to grow through acquisitions.
The saying “He who laughs last, laughs best” certainly applies to Glenn Gray. As chief executive of Sunwest Bank, Orange County’s largest privately held bank, Gray took some flak a few years ago, when the real estate bubble was big and subprime loans were the order of the day.
“We did not pursue the types of lending opportunities that were abundant during the heydays of 2005 to 2007, because we foresaw the economic correction that would inevitably need to occur,” Gray says. “To many, we were boring.”
Boring sure beats bankrupt. And success is even sweeter: Sunwest acquired two distressed banks earlier this year.
– Caitlin Adams
OC METRO's 2009 Hot 25 honorees:
Toby Bost | Mike Gillespie | Anil Puri | Sean Collins
Kevin Boylan & T.K. Pillan | Dr. Jason Knight | Hugh Hewitt
Luke Allen | Tina Aldatz | Sukhee Kang | Glenn Gray
Amelia & Florent Marneau | Tim McFerran | Tallia Hart
Bill Sanderson | Henrik Fisker | Janet Hamada | Wayne Gross
Julie Miller-Phipps | Michael Ruane | Carl St.Clair
Pretend City | Phil Willms | Sheryl Bourgeois | Steve Nichols
<<< Back to 2009 honorees
To celebrate the 20th anniversary of OC METRO's Hot 25 awards, here are our original Hot 25 honorees, who were featured in 1990.
Doug Rankin | Erich Vollmer | Dennis Aigner | Greg Patton
Janice Mittermeier | Carol Stogsdill | Carl St.Clair
Anton Segerstrom | Christopher Cox | Christine (Reed) Iger
Dr. Robert Bade | Thomas Mays | Mike Goode
Richard Gadbois | Rudy Castruita | Debbie Miede
Ernest C. Brown | Mossimo Giannulli | Daniel L. Rasmussen
Cynthia Ellner | Kathryn Braun Lewis | David Wilhelm
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first Hot 25 honorees