Mission Viejo, Calif.-based Partners Bank of California announced plans to open a branch in Beverly Hills, its first outside of Orange County.

The $257.8 million in assets institution said in a prepared statement that it would open the branch, to be located at 8484 Wilshire Blvd., Suite 520, in Beverly Hills in March.

The bank’s second branch will provide commercial lending and business and private banking services to clients in the Los Angeles area.

“This extension of the Partners Bank footprint and presence in the Los Angeles region will further enhance the bank’s growth and service capabilities – making it easier and more convenient for our Los Angeles clients to access our unique class of relationship banking services,” the bank said in the statement.

“We’re thrilled about what this expansion means to our bank and most importantly to our clients in Los Angeles,” said Mike Ahmar, executive chairman of Partners Bank, in the statement.

In November, CEO Chris Walsh was named CEO at Partners Bank, replacing Rick Mandelbaum, who retired.

On Feb. 15, the bank also reported that its profit for 2018 grew to $1.43 million, a 104.2 percent rise over the $700,000 in the previous year. Assets grew 30.1 percent over the $198.1 million seen in 2017. Deposits rose 13.7 percent to $198.2 million in 2018 over the $174.2 million in 2017. Outstanding loans grew 37.5 percent to $214.2 million in 2018 from $155.8 million in 2017.

Finance reporter Pat Maio can be reached at [email protected] or (323) 556-8329.