NAPA -- Walnut Creek-based Bay Commercial Bank revealed more about recently announced plans in the works to establish a Napa County presence.
The bank intends to open a Napa loan production office and branch in the next six to 12 months.
"We really love that market," said George Guarini, president and chief executive officer of Bay Commercial. "That is the interest we had in Charter. We have clients there now, and we want to develop it further. And since we were unable to bid on Charter Oak, we are doing it this way."
Bay Commercial recently announced the hiring of two former Charter Oak Bank relationship managers for the market. Starting late last year, Bay Commercial made an unsuccessful bid to acquire Charter Oak, which was taken over by Bank of Marin in an FDIC-facilitated transaction.
He said that other than Bank of Napa, there is not a bank in the market with assets under a billion dollars.
"It really yearns for a community bank," Mr. Guarini said.