Santa Rosa's Exchange Bank has recently made a number of business development hires and reassignments, part of a longer-term effort that included the creation of a formal business development department last July, said Howard Daulton, senior vice president in corporate and business development.
[caption id="attachment_75966" align="alignright" width="144"] Brian Kilkenny[/caption]
Many of those business development officers are focused on commercial lending. In April, the bank brought on Brian Kilkenny, most recently a vice president and business development officer at Bank of America.
[caption id="attachment_75970" align="alignleft" width="180"] Steven Shira[/caption]
Other recent hires include Steven Shira, most recently with George Peterson Insurance, and Mike Arendt, who works part-time in business development after serving for more than a decade at Luther Burbank Savings, most recently as a vice president.
The bank also recently added a number of individuals to help develop new business for loans backed by the U.S. Small Business Administration. Rebecca Roberts focuses on those efforts in the Sacramento area, with Bradley Abel in the South Bay and Richard Carlson in the East Bay. Scott Dykstra focuses on SBA development in the North Bay.
[caption id="attachment_75973" align="alignright" width="160"] John Meislahn[/caption]
Those hires join other employees focused on business development under long-time employee John Meislahn, who was appointed to the newly created position of vice president in sales and business development last July, and Sherrill Stockton, who heads SBA lending for the bank.
"We're ramping up our business development efforts in a measurable way," Mr. Daulton said. "We've always had it, but now it's a more formal process."
Mr. Daulton said that new technology -- recently a major push for Exchange Bank -- has allowed the bank to pursue more robust business in areas where it lacks a physical branch. The bank does now maintain two full-time loan production offices in the South Bay and the East Bay, but is also eying new business in areas like Solano County.
Exchange Bank is actively pursuing new relationships and demand for financing in manufacturing, wholesale agriculture, commercial real estate, professional services and, increasingly, construction, Mr. Daulton said.***
Santa Rosa-based Community First Credit Union has launched a new Web-based money management program, responding to demand for increasingly sophisticated technology and services that were once only in reach for the largest national banks.
Known as "360 MoneyHub," the program automatically imports account activity for both Community First and, if desired, other financial institutions. Users are able to assign and track different categories of income and expenses, with features that include automatic alerts when a certain type of spending is reaching its budgeted limit.
Community First selected a customizable money management platform by Tolland, Conn.-based Geezeo for the new service, spending several weeks in testing before offering it for free to members in early June, said Todd Sheffield, president and chief executive.
"It fits into our role -- we're supposed to be helping people with their financial lives," he said.
Though Community First is among the smallest financial institutions based in the North Bay, with $157 million in assets and 15,800 members, the credit union has seen rapid growth while embarking on a number of initiatives to expand its online and physical presence in recent years. The lender pooled its resources with four other credit unions to develop a mobile banking application that launched in March 2011, and rapidly expanded a two-branch footprint with three new branches opened between November 2010 and September 2011.