| River City Bank | |
| Categories: |
California Mortgage/State/California Online Banking/Business Accounts Online Banking/Corporate Accounts Online Banking/Personal Accounts Other/Investment Manager/States/California Real Estate/State/California |
| URL: | http://www.rcbank.com/ |
| Description: |
In 1972, Jon S. Kelly, a very successful businessman from the radio and television broadcasting industry, perceived a need for a strong independent bank in Sacramento. Having garnered support from a select group of Sacramento business people, Mr. Kelly made application to the State Banking Department in September, 1972 for the approval of this bank to be known as Pony Express Bank. All the necessary approvals were secured by mid-1973, and the organization, now known as River City Bank, began to capitalize itself through the sale of common stock. The initial stock offering was fully subscribed almost instantly, allowing the Bank to open for business on December 14, 1973. River City Bank opened its doors in a small storefront location at 1010 J Street. Eleven employees composed the entire staff. Through market research, the Bank launched its marketing efforts along three main concepts -- no-charge checking accounts; low interest rate auto loans; and extended hours for its customers. These concepts proved instantly successful and after the first year of operation, the Bank had grown to show total assets of $12,577,887 and reported net income of $8,731 as of December 31, 1974. In addition, the staff had grown from 11 employees to 18. On March 8, 1975, River City Bank opened its first branch office in temporary facilities on the present site of the Howe Avenue Branch. This began the era of Saturday banking, which was perceived as a "breakthrough in traditional service offered in the interest of customer service." The permanent branch facility, once completed, included eight drive-up lanes, making it the largest facility of its kind in the State. In 1983, River City Bank opened its first automatic teller machine (ATM) to assist in expanding its service to the customer. In an effort to find a new "niche" in the market, the Bank began opening two of its branches on Sundays. By the end of 1983, the Bank's total assets had grown to $150,873,000, thus taking it out of the "small" bank category. The year of 1988 saw the first acquisition of another financial institution, First Security Bank of Elk Grove, thus adding two branches to the network. The Bank assumed the 1963 origination date of First Security Bank of Elk Grove thus adding ten years to its history of serving the banking community. The Bank also purchased a six-acre parcel of land and began construction on a 150,000 square foot office building. Located in the rapidly developing geographical area north of the city known as South Natomas, this office building is now the headquarters of River City Bank, as well as one branch office. Another milestone occurred on October 14, 1991, when River City Bank opened its first in-store branch at the current Bel Air supermarket location in Roseville, at the corner of Cirby and Sunrise. Since then, the Bank has opened branches in Davis, West Roseville, Lincoln, Granite Bay, Laguna and relocated their K Street branch to a completely remodeled site across the Mall. The Bank continues to seek out new opportunities for growth opportunities in the developing Capital region. River City Bank currently enjoys a very unique niche in the banking marketplace in the greater Sacramento metropolitan area. It has earned the respect of the local financial community and is highly regarded within the consuming public, having a reputation for strength, conservatism and stability. The Bank now has thirteen branches with several additional branches opening soon, in excess of $750 million in assets and employs over 185 people |
| Title: | River City Bank |
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| Link Added: | 01-15-2007 |
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