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Hot 25: 2009 Honorees
What is your view of the banking industry over the next 12 to 18 months?
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.
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