ITLA sees Carson office as beachhead

The California bank that launched a branch in Carson City this month views the office as a beachhead to create a statewide banking network.

But a top executive of ITLA Capital Corp.

said last week that the San Diegobased company doesn't plan to move quickly.

"We're going to go slow and make sure we understand the Carson City and Nevada economy," said Timothy Doyle, senior managing director and chief financial officer for ITLA, the parent company of Imperial Capital Bank.

"We go very carefully and make sure we know what we're doing." He said the company, which converted from an industrial bank charter to a commercial bank charter on Jan.

1, plans to create a tri-state banking network in California, Nevada and Arizona.

As an industrial bank, Imperial was engaged almost entirely in commercial real estate loans, and its portfolio includes some $60 million in loans in Nevada.

As Imperial widens its products to include consumer and business lending under its new charter, Doyle said the company's recent agreement with Household International will give it a leg up.

Under that deal, Imperial Capital Bank will originate tax-refund loans and private-label credit card transactions.

It will sell the loans to Household International, keeping a portion of the interest stream along with the origination fees.

"It was an excellent opportunity to get into consumer finance and diversify our lending," Doyle said.

The credit card business, he said, is an especially attractive way of reaching small business customers.

The transactions originated for Household International will be handled by the Carson City office, which initially employs about a half dozen people.