River Valley Community Bank opens in Grass Valley | TheUnion.com

River Valley Community Bank opens in Grass Valley

Jennifer Terman
Staff Writer

Nevada County residents can look to a newly opened local resource for their banking needs.

River Valley Community Bank, based out of Yuba City, opened its Grass Valley branch Monday at 426 Sutton Way, Suite 102.

"It's very exciting for me personally and for the staff who've come from other financial institutions," said Senior Vice President Michael P. Vasquez, who also serves as the Nevada County regional manager. "The pictures of the Yuba River are all up on the wall, and we have our theme, the telephones work, and the lights are on, so we're ready to go."

The bank can provide alternatives to larger banks and offers personalized service, Vasquez said.

"Our tellers and account people have desks to sit at instead of standing in line at a regular bank," he said. "You have the opportunity to sit down and do all your business with one individual."

The bank's focus is to build personalized relationships with the community, Vasquez said.

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A lot of the staff came from Tri Counties Bank and Citizens Bank, which closed in September 2011 after failing to raise at least $12 million in fresh capital, The Union previously reported.

Federal bank regulators paid Tri Counties Bank of Chico $44.1 million to take over Citizens Bank of Northern California, after Tri Counties determined Citizens had about $70.1 million in potentially uncollectible loans, according to federal and bank officials.

River Valley Community offers personal banking and cash management services, as well as commercial, agriculture, construction and home loans.

According to the FDIC, River Valley received a satisfactory Credit Report Assessment rating and total assets of $157,781,000 as of March 31, 2013, up from $142,893,000 March 31, 2012.

"We believe a locally owned and managed community bank that provides personalized, relationship banking experiences to local businesses and individuals who may be seeking an alternative to regional and national banks will be well-received," said Vasquez in an email.

"We extend an invitation to all our friends and neighbors to stop by and find out what true community banking is all about."

To contact Staff Writer Jennifer Terman, email jterman@theunion.com or call 530-477-4230.

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