Press Releases Press Releases

October 25, 2004
Contact: Alana Golden, Public Information Officer
(916) 323-7012 or (916) 322-5966

Department of Financial Institutions Announces New State Bank - Bank of Santa Clarita will open its doors to the Santa Clarita community on October 26

San Francisco - The California Department of Financial Institutions (DFI) announced today that the Department has approved the opening of a new state bank. Bank of Santa Clarita will open its doors on October 26, 2004 with a capitalization of $13.7 million.

"I am pleased to welcome the Bank of Santa Clarita and report that state-chartered banks continue to grow and prosper in California," said Howard Gould, Commissioner of Financial Institutions. During the last three years, 40 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.

James D. Hicken will serve as President and Chief Executive Officer; Jeffery Pollard as Chief Operating Officer/Chief Financial Officer; and Frank DiTomaso as Vice Chairman/Chief Business Development Officer.

Bank of Santa Clarita is located at 27441 Tourney Road, Suite 100, Santa Clarita, California, 91355. Their telephone number is 661-993-5350.

Like all California state-chartered banks, Bank of Santa Clarita 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.