WCB Opens for Business
Woodland Hills, Calif., February 6, 2006 – WCB, a new independent community business bank headquartered in Woodland Hills, Calif., opened for business today after completing its $13.8 million initial stock offering on January 23, 2006.
The locally owned and managed bank will provide financial services to small and mid-sized businesses, entrepreneurs and professionals in the San Fernando Valley, with special expertise in commercial real estate finance.
“The strong interest we’ve already received from the local business community validates our belief that smaller businesses in the San Fernando Valley are looking for a financial services partner focused exclusively on their needs,” said Carl W. Raggio III, President and Chief Executive Officer, who led the organization of the new bank with Gines Arnau, Executive Vice President and Chief Lending Officer. “In addition, our specialized expertise in commercial real estate finance will allow us to provide loan origination services typically found only at much larger financial institutions.”
The bank’s 13-person staff is also led by executive management team members Kathleen Bryan, Executive Vice President and Chief Credit Officer, H. Tommy Woo, Executive Vice President and Chief Financial Officer, along with Yola Zambrano, Vice President of Operations.
Each of the Bank’s senior officers has substantial experience in the Southern California market and all have previously worked with Raggio. Members of the board of directors also bring significant expertise to the Bank in corporate governance, accounting, operations, real estate, capital management and insurance.
“We understand the importance of genuinely personalized service to small businesses, professionals and entrepreneurs whose financial services needs often aren’t met by a ‘one-size-fits-all’ approach to business,” said Raggio. “By focusing on each individual customer, we can apply our sophisticated product lines to meet their specific requirements.”
The Bank offers a comprehensive selection of deposit and loan products, cash management services as well as SBA-guaranteed loans.
The Bank is located at 21550 Oxnard Street, Suite 100, Woodland Hills. Regular office hours are Monday through Friday, 9:00 a.m. until 4:00 p.m.
Information on the Bank’s services is available by calling (818) 449-7700 or online at www.westerncommercialbank.com.
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WCB Board of Directors:
- Robert Abbasi, Founder and President of RTI Properties, Inc., a multi-faceted real estate firm
- Michael Abergel, Principal in Abergel & Associates, Inc., a real estate appraisal firm
- Barrett Andersen, Vice Chairman of the Board, WCB, and former President and Chief Executive Officer, First Federal Saving and Loan of San Gabriel Valley and SGV Bancorp
- Kevin Bernzott, President and Chief Executive Officer of Bernzott Capital, a $500 million investment fund
- James B. Hussey, Chairman of the Board, WCB, and Founder and Principal in Hussey Insurance Agency, Inc.
- Charles R. Gross, Partner in William & Ribb, LLP, an accounting firm
- William LaBelle, former Senior Vice President and Head of Operations, Manufacturers Bank
- Carl W. Raggio, III, President and Chief Executive Officer, Western Commercial Bank
