In the world of bank names that are mundane and commonplace, TomatoBank, which recently opened an office in Chula Vista, stands out.

The Alhambra-based commercial bank was formerly known as InterBusiness Bank until last year when it rebranded itself.

Chief Operating Officer Jesse Torres said the bank’s board and executives decided the bank needed a new name that would stick in customers’ minds to replace one that was forgettable.

“It was difficult to get any traction in our community because our name was not one that anyone would remember,” Torres said. “We needed something to give us some brand name recognition.”

Stephen Liu, the bank’s chairman and chief executive and a former orthopedic surgeon, decided on naming the bank after one of the world’s most prevalent fruits, and one that’s used in many international cuisines. And finally, it’s a name that many won’t forget, Torres said.

Name Change Working

The change appears to be working as Tomato’s total assets sprouted up 26 percent over the year ended June 30 to $445 million, while its loans increased 36 percent over the same period to $341 million.

“We’ve had some great success with the name,” said Torres. “It’s brought us a lot of attention.”

Maybe almost as much attention as Phil Spector brought to Alhambra, a sleepy little burg just east of downtown Los Angeles. The famous music producer is awaiting the outcome of a five-month-old trial in which he was tried for the murder of a former actress.

Buoyed by the bank’s growth, it decided to open a branch in the San Diego area, the first branch outside Los Angeles County.

“We have a number of clients there, and investors, too,” Torres said. “It’s a market that fits nicely with our mission, which is to serve the ethnic markets.”

Specifically, TomatoBank is targeting Spanish speakers, the nation’s largest ethnic minority, many of whom have shunned banks in favor of check-cashing outlets.

Torres said some of the reasons Hispanics avoid doing business with banks is a distrust of these institutions, a lack of history of using banks and the language barrier.