Department of Financial Institutions Announces New State Bank – Ojai Community Bank will open its doors in Ojai, Ventura Co., on March 3

San Francisco-The California Department of Financial Institutions (DFI) announced today that the Department has approved the opening of a new state bank. Ojai Community Bank will open its doors in Ojai, Ventura County, on March 3, 2005 with a capitalization of $11 million.

“I am pleased to welcome Ojai Community Bank and report that state-chartered banks continue to grow and prosper in California,” said Howard Gould, Commissioner of Financial Institutions. During the last four years, 44 new state-chartered banks opened with DFI approval. In addition, over 120 branches also opened their doors. “Each new bank has its unique characteristics, which range from serving a small community or ethnic community to offering special services for small businesses and professionals,” added Commissioner Gould.

Ms. Sharon (Shari) K. Skinner will serve as President/Chief Executive Officer; Ms. Michelle Henson as Senior Vice President/Chief Credit Officer; and Ms. Suzanne Lagos as Senior Vice President/Chief Financial Officer.

Ojai Community Bank is located at 402 West Ojai Avenue, Ojai, California 93023. Their phone number is (805) 646-9909. The bank’s website is www.ojaicommunitybank.com

Like all California state-chartered banks, Ojai Community Bank deposits are insured by the Federal Deposit Insurance Corporation (FDIC), up to $100,000 per depositor.

DFI supervises over 650 financial institutions, including 204 commercial and industrial banks and 221 credit unions. The Department is responsible for administering state laws regulating state-licensed financial institutions: banks, credit unions, industrial banks, savings associations, trust companies, offices of foreign banks, issuers of travelers’ checks and payment instruments (money orders), and transmitters of money abroad. The Department reports to Sunne Wright McPeak, Secretary of the Business, Transportation and Housing Agency and Governor Arnold Schwarzenegger.

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