Written by The Business Journal Staff
Bank of Sierra in Porterville has announced plans to provide business loan services by targeting areas outside of its eight-county market.
To do this, it has created a Northern California Business Development Group to offer loan services to companies throughout the region. The bank has also opened its 41st location, a new loan production office (LPO) in Rocklin, while launching a similar group in Southern California.
“Additional loan growth is vital to achieving the bank’s strategic goals, including its return to shareholders,” Kevin McPhaill, president and CEO. “This new LPO and the business development group will enable us to reach beyond the eight counties covered by our 40 branches and meet the lending needs of businesses all over Northern California.”
The Northern California Business Development Group will be led by Deepak Bhakoo, senior vice president and regional business development manager. Bhakoo has more than 15 years of experience in commercial banking, having previously worked for Wells Fargo, Community Business Bank, Rabobank and N.A./Mechanics Bank.