Department of Financial Institutions Announces New State Bank - First Community Bank will open its doors in Santa Rose on January 28
San Francisco-The California Department of Financial Institutions (DFI) announced today that the Department has approved the opening of a new state bank. First Community Bank will open its doors in Santa Rosa on January 28, 2005 with a capitalization of $18.4 million.
"I am pleased to welcome First 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, 42 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.
Kathy Pinkard will serve as President and Chief Executive Officer; Debbie K. Fakalata as Chief Financial Officer and Chief Operating Officer; and David R. Brown as Chief Credit Officer.
First Community Bank is located at 438 First Street, Santa Rosa, California, 95401. Their telephone number is (707) 636-9000 and their fax number is (707) 636-9100. Their Web site address is www.fcbconnect.com.
Like all California state-chartered banks, the First 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.