Department of Financial Institutions Announces New State Bank - Fresno First Bank will open its doors on December 23
San Francisco-The California Department of Financial Institutions (DFI) announced today that the Department has approved the opening of a new state bank. Fresno First Bank will open its doors on December 23, 2005 with an initial capital of $16.5 million.
"I am pleased to welcome Fresno First Bank - the 21st new bank to open in 2005 - and report that state-chartered banks continue to grow and prosper in California," said Brian Yuen, Acting Commissioner of Financial Institutions. During the last five years, 59 new state-chartered banks have 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 Yuen.
Fresno First Bank is located at 7355 N. Palm Avenue, Fresno, CA. The bank's telephone number is (559) 439-0200 and the fax number is (559) 439-0290. The bank's Web address is http://www.fresnofirstbank.com.
Tony Swartz will serve as President; John (Jack) Glover as Executive Vice President and Chief Financial Officer; and Dennis Tishma as Executive Vice President and Chief Credit Officer.
Like all California state-chartered banks, Fresno First 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.