Bank of the Sierra Expands Business Loan Services in Southern California
February 04 2020 - 03:56PM
Business Wire
Community-centric regional bank launches
business development group focused on Los Angeles, Orange, Ventura,
Santa Barbara, and San Luis Obispo counties
Bank of the Sierra announced today its plans to grow business
loan services by targeting areas outside its current eight-county
market. It has created a Southern California Business Development
Group to offer loan services to companies throughout the region.
The new group will be headquartered in the Bank’s branch at 26328
Citrus Street in Santa Clarita, Calif. In addition to the business
development group, Bank of the Sierra has launched a similar group
in Northern California and opened a Loan Production Office (LPO) in
Rocklin, Calif. The Bank’s goal is to expand the footprint of its
business loan services so it can help companies throughout the
state with their lending needs.
The Southern California Business Development Group will be led
by Bill Nethercott, Senior Vice President and Regional Business
Development Manager. Nethercott has over 35 years of experience in
commercial banking, having most recently worked for Premier America
Credit Union and First Bank.
“Additional loan growth is vital to achieving the Bank’s
strategic goals, including its return to shareholders,” said Kevin
McPhaill, President and CEO of Bank of the Sierra. “This new
business development group will enable us to reach beyond the eight
counties covered by our 40 branches and meet the lending needs of
businesses all over Southern California.”
“The Southern California Business Development Group is a logical
extension to our growing Bank,” stated Michael Olague, Executive
Vice President and Chief Banking Officer. “We expect solid loan
activity in Southern California, and we look forward to developing
additional lending relationships.”
About Bank of the Sierra
Bank of the Sierra is in its 43rd year of operations and is the
largest independent bank headquartered in the South San Joaquin
Valley. Bank of the Sierra is a community-centric regional bank,
which offers a full range of retail and commercial banking services
with full-service branches located within the counties of Tulare,
Kern, Kings, Fresno, Los Angeles, Ventura, San Luis Obispo and
Santa Barbara. The bank also maintains a loan production office and
an online branch, and it provides specialized lending services
through an agricultural credit center and an SBA center. In 2019,
Bank of the Sierra was recognized as one of the strongest and
top-performing community banks in the country with a 5-star rating
from Bauer Financial.
Forward-Looking Statements
The statements contained in this release that are not historical
facts are forward-looking statements based on management’s current
expectations and beliefs concerning future developments and their
potential effects on the Company. Readers are cautioned not to
unduly rely on forward looking statements. Actual results may
differ from those projected. These forward-looking statements
involve risks and uncertainties including but not limited to the
health of the national and local economies, the Company’s ability
to attract and retain skilled employees, customers’ service
expectations, the Company’s ability to successfully deploy new
technology, the success of acquisitions and branch expansion,
changes in interest rates, loan portfolio performance, and other
factors detailed in the Company’s SEC filings, including the “Risk
Factors” and “Management’s Discussion and Analysis of Financial
Condition and Results of Operations” sections of the Company’s most
recent Form 10-K and Form 10-Q.
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version on businesswire.com: https://www.businesswire.com/news/home/20200204006000/en/
Mitchell Lee, Communications Specialist Matt Hessler, CFMP,
Director of Marketing (559) 782-4900 or (888) 454-BANK NASDAQ
Symbol: BSRR www.bankofthesierra.com
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