Tomato Bank
Encyclopedia
Tomato Bank more commonly known as TomatoBank, is an overseas Chinese bank in the United States
. Headquartered in Alhambra, California
, with branch offices
in Cerritos, California
, Diamond Bar, California
, Industry, California
, and West Los Angeles, Los Angeles, California
, this privately-held community bank was first established on September 29, 2000.
The bank
was established to serve the local Chinese
community, but unlike those traditional overseas Chinese banks in the United States
established earlier, a significant portion of the Tomato
Bank
clientele are wealthy Chinese immigrants either engaged in international trade and real estate business, or professionals.
Another unique feature of the bank
is that unlike other banks, the founder, and former chairman, and CEO
of this bank is a physician
instead of a businessperson
. However, Dr. Stephen Liu does have managerial training in that he has earned a master's degree in healthcare management from University of California, Los Angeles
after gaining his doctor of medicine (M.D.) degree from the medical school of University of Southern California
. Dr. Liu's experience in bank
ing included being a member of the board of American International Bank.
The bank originally adopted several names, including InterBusiness Bank, Inter Business Bank, Tomato Bank, and Acer Bank. However, customer surveys revealed that the name Tomato Bank was most popular, partially because it was easy to remember. As explained by the former Chairman and CEO
, Dr. Stephen Liu, at a business reception in mid 2006:
"It is an attractive brand name that brings to mind images of growth, multi-culture and health, all characteristics that represent who we are and what we strive to achieve. But most importantly, it is a brand that is recognizable and hard to forget. If there can be an Apple Computer - why not a Tomatobank? Try to forget it. You can't!"
Furthermore, the name proved to be unique because other Chinese businesses seldom adopt such unusual names, so that other Chinese merchants would not have to worry about confusing the bank with other businesses.
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
. Headquartered in Alhambra, California
Alhambra, California
Alhambra is a city located in the western San Gabriel Valley region of Los Angeles County, California, United States, which is approximately eight miles from the Downtown Los Angeles civic center. As of the 2010 census, the population was 83,089, down from 85,804 at the 2000 census. The city's...
, with branch offices
Branch (banking)
A branch, banking center or financial center is a retail location where a bank, credit union, or other financial institution offers a wide array of face-to-face and automated services to its customers....
in Cerritos, California
Cerritos, California
Cerritos is a city in Los Angeles County, California, United States, and is one of several cities that constitute the Gateway Cities of southeast Los Angeles County. It was incorporated on April 24, 1956...
, Diamond Bar, California
Diamond Bar, California
Diamond Bar is a city in eastern Los Angeles County, California, United States. The population was 55,544 at the 2010 census, down from 56,287 at the 2000 census. It is named after the "diamond over a bar" branding iron registered in 1918 by ranch owner Frederick E...
, Industry, California
Industry, California
Industry is an industrial suburb of Los Angeles in the San Gabriel Valley region of Los Angeles County. Home to over 2,500 businesses and 80,000 jobs, but only 219 residents at the 2010 census - down from 777 residents as of the 2000 United States census - the city is almost entirely industrial...
, and West Los Angeles, Los Angeles, California
West Los Angeles, Los Angeles, California
West Los Angeles is a district in Los Angeles, California, within a larger region known as the "Westside."-Geography and transportation:...
, this privately-held community bank was first established on September 29, 2000.
The bank
Bank
A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...
was established to serve the local Chinese
Chinese people
The term Chinese people may refer to any of the following:*People with Han Chinese ethnicity ....
community, but unlike those traditional overseas Chinese banks in the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
established earlier, a significant portion of the Tomato
Tomato
The word "tomato" may refer to the plant or the edible, typically red, fruit which it bears. Originating in South America, the tomato was spread around the world following the Spanish colonization of the Americas, and its many varieties are now widely grown, often in greenhouses in cooler...
Bank
Bank
A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...
clientele are wealthy Chinese immigrants either engaged in international trade and real estate business, or professionals.
Another unique feature of the bank
Bank
A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...
is that unlike other banks, the founder, and former chairman, and CEO
Chief executive officer
A chief executive officer , managing director , Executive Director for non-profit organizations, or chief executive is the highest-ranking corporate officer or administrator in charge of total management of an organization...
of this bank is a physician
Physician
A physician is a health care provider who practices the profession of medicine, which is concerned with promoting, maintaining or restoring human health through the study, diagnosis, and treatment of disease, injury and other physical and mental impairments...
instead of a businessperson
Businessperson
A businessperson is someone involved in a particular undertaking of activities for the purpose of generating revenue from a combination of human, financial, or physical capital. An entrepreneur is an example of a business person...
. However, Dr. Stephen Liu does have managerial training in that he has earned a master's degree in healthcare management from University of California, Los Angeles
University of California, Los Angeles
The University of California, Los Angeles is a public research university located in the Westwood neighborhood of Los Angeles, California, USA. It was founded in 1919 as the "Southern Branch" of the University of California and is the second oldest of the ten campuses...
after gaining his doctor of medicine (M.D.) degree from the medical school of University of Southern California
University of Southern California
The University of Southern California is a private, not-for-profit, nonsectarian, research university located in Los Angeles, California, United States. USC was founded in 1880, making it California's oldest private research university...
. Dr. Liu's experience in bank
Bank
A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...
ing included being a member of the board of American International Bank.
The bank originally adopted several names, including InterBusiness Bank, Inter Business Bank, Tomato Bank, and Acer Bank. However, customer surveys revealed that the name Tomato Bank was most popular, partially because it was easy to remember. As explained by the former Chairman and CEO
Chief executive officer
A chief executive officer , managing director , Executive Director for non-profit organizations, or chief executive is the highest-ranking corporate officer or administrator in charge of total management of an organization...
, Dr. Stephen Liu, at a business reception in mid 2006:
"It is an attractive brand name that brings to mind images of growth, multi-culture and health, all characteristics that represent who we are and what we strive to achieve. But most importantly, it is a brand that is recognizable and hard to forget. If there can be an Apple Computer - why not a Tomatobank? Try to forget it. You can't!"
Furthermore, the name proved to be unique because other Chinese businesses seldom adopt such unusual names, so that other Chinese merchants would not have to worry about confusing the bank with other businesses.