Department of Financial Institutions Announces New State Bank – Tri-Valley Bank will open its doors in San Ramon on September 29, 2005
San Francisco-The California Department of Financial Institutions (DFI) announced today that the Department has approved the opening of a new state bank. Tri-Valley Bank will open its doors in Contra Costa and Alameda counties on September 29, 2005 with an initial capital of $17.6 million.
“I am pleased to welcome Tri-Valley 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, 53 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.
William B. Nethercott will serve as President and Chief Executive Officer; John D. Rockwell, Jr., as Executive Vice President and Chief Credit Officer; and Kate Elsea, as Senior Vice President and Chief Financial Officer.
Tri-Valley Bank is located at 2410 San Ramon Valley Boulevard, San Ramon, CA 94583. The bank’s telephone number is (925) 791-4340 and their fax is (925) 837-7412. Tri-Valley Bank’s Web site address is http://www.tvbonline.com.
The Department also approved the opening of a branch office to be located at 1756 First Street, Livermore, CA 94550.
Like all California state-chartered banks, Tri-Valley Bank deposits are insured by the Federal Deposit Insurance Corporation (FDIC), up to $100,000 per depositor.
DFI supervises over 650 financial institutions. 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. DFI reports to Sunne Wright McPeak, Secretary of the Business, Transportation and Housing Agency and Governor Arnold Schwarzenegger.
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