Bank of the West Opens Six New Regional Business Banking Centers.SAN FRANCISCO--(BUSINESS WIRE)--Oct. 23, 1996--Bank of the West announced the creation of a new Business Banking Division and opened six new Regional Business Banking Offices in Northern California Northern California, sometimes referred to as NorCal, is the northern portion of the U.S. state of California. The region contains the San Francisco Bay Area, the state capital, Sacramento; as well as the substantial natural beauty of the redwood forests, the northern to further complement its 104 branch network. "Recent mergers have changed the competitive dynamic for commercial lending in California," according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Don McGrath, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Bank of the West. "We need to respond aggressively to the opportunities these changes make. I am confident the new structure will make us a more aggressive competitor for new business while continuing to provide excellent service to our existing customers." The Bank will continue to provide small business loans through each of its 104 branches. The Business Banking Division focuses on providing loans and banking services to medium-sized companies with borrowing needs from $500,000 to $25 million. The new division employs 35 senior loan officers and support personnel located in six new regional offices located in Oakland, Petaluma, Burlingame, San Jose San Jose, city, United States San Jose (sănəzā`, săn hōzā`), city (1990 pop. 782,248), seat of Santa Clara co., W central Calif.; founded 1777, inc. 1850. , Fresno and Sacramento. Each regional office will provide a full range of business loan products, including accounts receivable accounts receivable n. the amounts of money due or owed to a business or professional by customers or clients. Generally, accounts receivable refers to the total amount due and is considered in calculating the value of a business or the business' problems in paying and inventory working capital, lines of credit, equipment term loans, commercial and standby letters of credit and other credit enhancements, agricultural loans and international trade finance products. The Division's full service approach to business banking also includes a complete range of state of the art cash management products and services including multiple lockbox Lockbox A collection and processing service provided to firms by banks, which collect payments from a dedicated postal box to which the firm directs its customers to send payment to. and controlled disbursement Controlled disbursement A service that provides for a single presentation of checks each day (typically in the early part of the day). presentment points; integrated PC and mainframe information products including multi-bank reporting capabilities; telephone and PC initiated wire transfer services; tax reporting services; automated account reconcilement and account analysis systems; cash vault services; electronic funds transfer See EFT. (application, communications) electronic funds transfer - (EFT, EFTS, - system) Transfer of money initiated through electronic terminal, automated teller machine, computer, telephone, or magnetic tape. product (ACH) including payroll direct deposit services, and Corporate CheckScan (a service providing clear digitized images of canceled checks -- both front and back -- stored on CD-ROMs). Scott Germer, Senior Vice President, leads this new division and believes that "there are a large number of businesses that are dissatisfied with the level of customer service received in the wake of recent bank mergers. We feel strongly that business customers want the type of banking relationship that Bank of the West can provide, which is one built on stability and accompanied by personal service and commitment." Founded in 1874, Bank of the West is California's fifth oldest and sixth largest bank with over 104 branches in Northern California. -0- Note to Editors: To contact the Regional Business Manager in your market, please call: Robert Galli of the South Bay Region (San Jose) at 408/998-6452; Aileen Queen of the East Bay Region (Oakland) at 510/273-1253; Kevin Murphy There are many people named Kevin Murphy:
CONTACT: Bank of the West Scott Germer, 510/975-4014 (Senior VP) |
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