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Western News - Page 2

CIT Provides Grant to Junior Achievement of Southern California to Fund Programs for Youth

February 14 – CIT Bank, N.A., (Member FDIC, Equal Housing Lender), and its Southern California retail bank division OneWest Bank, have provided a $100,000 grant to Junior Achievement (JA) of Southern California to support their mission to inspire and empower over 70,000 young people through financial literacy, workforce readiness and entrepreneurship education; all concepts that are reinforced through JA ‘s volunteer mentors, including employees from CIT, who lead students through JA Classroom programs, JA Job Shadow and JA Finance Park.

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Wells Fargo Announces New Structure for Its International Business

January 23 – Seeking to better align its international banking services with the customers they serve, Wells Fargo & Company has announced that its International Group will be integrated into other Wholesale Banking business lines, enhancing how they serve middle market, corporate and financial institution customers doing business globally.

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Community Bank Invests in Clearinghouse CDFI to Benefit Distressed Communities Throughout California

January 16 – Community Bank recently added a $700,000 equity investment in Clearinghouse Community Development Financial Institution (Clearinghouse CDFI) Class A stock. This is Community Bank’s second investment in Clearinghouse CDFI which enhances Clearinghouse CDFI’s ability to address unmet credit needs in distressed areas throughout California.

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Mechanics Bank Opens New State-of-the-Art Branch at Richmond’s Hilltop Mall

January 16 – Mechanics Bank has opened a new, state-of-the-art branch at Hilltop Mall in Richmond, Calif. “This new branch ushers in a new era for us in Richmond, and embodies our continued commitment to this community,” says Rauly Butler, Mechanics Bank Executive Vice President, and head of Retail Banking.

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Terrance A. Shirey Named President and CEO Of Nevada State Bank

January 6 – Terrance A. (“Terry”) Shirey has been named president and CEO of Nevada State Bank, a division of ZB, N.A. He succeeds Dallas E. Haun, who has served as Nevada State Bank’s CEO over the course of the past decade. Mr. Haun will continue to serve as Nevada State Bank’s Chairman. Mr. Shirey joined Nevada State Bank in 2008 as its chief financial officer, and most recently has served as the bank’s president and chief operating officer.

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California Could Lead Way in Creating Banking Solution for Marijuana-Related Businesses

By Toni Lapp, Senior Editor

January 1 — In November, nine states voted on the legalization of marijuana; ballot measures passed in eight of the states. Marijuana is now legal for recreational or medicinal use in 28 states and the District of Columbia. (more…)

First Foundation Completes Branch Acquisition Transaction

December 12 – First Foundation Inc. (NASDAQ: FFWM), a financial services company with two wholly-owned operating subsidiaries, First Foundation Advisors and First Foundation Bank, has announced the completion of the previously announced acquisition of two branches with approximately $180 million in deposits from Pacific Western Bank. The branches are located in Laguna Hills and Seal Beach, California.

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Ally Bank Introduces New Resources Designed to Help Customers Develop Savings Strategies for Various Life Stages

December 8 – To further emphasize the importance of a comprehensive savings strategy in setting financial goals, Ally Bank, the direct banking subsidiary of Ally Financial Inc., has introduced a series of tools and content focused on helping consumers establish savings priorities and develop a strategy for their financial health through various life stages.

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Bank of the West Earns Recognition As a 2016 Javelin Online Banking Leader in the “Customer-First Banking” Category

December 2 – Bank of the West has been chosen as one of the winners of the Javelin Online Banking Leader awards for financial institutions (FIs) that distinguished themselves from the competition by providing the outstanding online banking experiences for their customers.

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Banks Honored for Ingenuity and Technology Strategy

November 11 – Computer Services, Inc., a provider of end-to-end financial technology solutions, honored three banks for their outstanding approach to technology and service as part of the company’s fourth annual Seeing Business Differently Awards. Illinois National Bank, Salin Bank and Truxton Trust were selected as this year’s winning institutions and were recognized during CSI Customer Conference 2016.

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