Nevada Security Bank isn't shy.
Its new 9,500-square-foot building at
Double R and South Meadows Parkway in
southwest Reno will be the dominant
commercial structure in its neighborhood
a statement, its founders say, of the
bank's young muscle.
Nevada Security Bank expects to be in
the new headquarters and branch office by
November.
"This is such a strong growth area," said
Joe Bourdeau, senior executive vice president,
as he walked through the construction
site last week. He points to the burgeoning
population growth of South
Meadows as well as the industrial and
office development in the area as reasons
organizers expect the bank to thrive.
Today, Bordeau said, the bank has
$52 million in deposits. As recently as
June 30, Nevada Security Bank reported
to the FDIC that its deposits totaled
$37.8 million.
At the time of its last FDIC report, the
bank had cautiously begun lending with
$5.4 million in loans. The lion's share of its
deposits nearly $25 million was invested
in securities.
Bordeau said the bank's senior executives
know the northern Nevada market
well and are building a portfolio of commercial
and real estate loans.
President of the bank is Hal Giomi,
who formerly was a senior vice president of
Capital Valley Bank. Bourdeau, a longtime
resident of Incline Village, was vice president
and sales manager for Nevada
Banking co. Bob Walter, the bank's executive
vice president and chief credit officer,
previously worked for Bank of the West,
Sierra West Bank, Bank of America and
Valley Bank of Nevada.
Rounding out the executive team are
Vice President Robin Orr, who has 23
years experience in bank operations in the
region, and Jack Buchold, previously a
banker in California, will serve as executive
vice president and chief financial officer.
The bank was founded in 2001 with
initial capital of $14 million and about 400
shareholders.
It's been operating out of a storefront in
the nearby Double Diamond Town
Center. A second branch operates in
Incline Village at the Raley's Shopping
Center.
