A Fresno-based bank with offices as far north as Sacramento has expanded south into Kern County by opening a branch in Bakersfield.
Central Valley Community Bank announced the move Wednesday with a news release saying it has set up a temporary branch at 5201 California Ave. It said it plans to open a new, full-service Bakersfield Banking Center at a later time.
“Expanding our brand of relationship banking further south down the Highway 99 corridor into Bakersfield has long been part of the company’s strategic plan,” CVCB President and CEO James J. Kim said in the release.
The bank’s entry into the local market has come less than a year and a half after the acquisition of one of only two locally based banks. Valley Republic Bank, founded in 2009, was purchased in March 2022 by Chico-based Tri Counties Bank, leaving Mission Bank as the only bank based in Kern.
Mission declined Wednesday to comment on CVCB’s expansion.
Founded in 1979, CVCB operates 20 branches in 17 communities around the Central Valley. Shares of parent company Central Valley Community Bancorp trade on the NASDAQ stock exchange under the symbol CVCY.
The company reported having more than $2.4 billion in assets at the end of June, when it posted $1.2 billion in loans and total deposits of $2.2 billion.
All three of the bank’s top executives in Bakersfield previously worked at Valley Republic.
Janet Hepp, former senior vice president at Valley Republic, has been named senior vice president and market manager at CVCB. It said she has more than 35 years of financial leadership in Kern County as a highly respected manager with a passion for solving business clients’ financial issues.
Vice President and Relationship Manager Ryan Leonard, a former supervisor at Valley Republic, has been appointed vice president and relationship manager at CVCB. He has more than seven years of industry expertise in commercial real estate and industrial financing, Wednesday’s release said.
Cathy Davies, vice president and private banking officer at CVCB, formerly worked as vice president-operations officer at Valley Republic. CVCB reported she has more than three decades of community and large bank experience managing and building deposit portfolios in Kern.
Executive Vice President Ken Ramos said in the release that the three of them are already focused on enhancing commercial lending and private banking client relationships.
“The team will be joined by relationship specialists to manage day-to-day banking needs and will operate from a state-of-the-art banking center that follows the opening of our newest locations in Sacramento and Modesto with a third to open in Visalia’s downtown in early November,” Ramos stated.
