Rabobank, N.A. plans to establish four new branches in the Central Valley this year, according to Regional President Anker Fanoe.
The community bank said it will file applications with the Office of the Comptroller of the Currency, its federal regulator, to open new branches in Visalia and Tulare and two new branches in Bakersfield. Final site locations for the branches are being completed, the company said in a news release.
“This expansion will allow us to serve our customers better and increase our client base by providing more locations to access our services,” said Fanoe. “It will also allow us to provide much-needed jobs and community support in the region.”
The proposed branches continue the bank’s expansion plans in the Central Valley. In 2009, the bank opened two branches in Merced, two in Modesto, and one each in Los Banos, Atwater, Turlock and Newman. The bank also opened a branch on the coast in Carpinteria in 2009 and recently bought Napa Community Bank.
Rabobank, N.A. is part of the Rabobank Group, more than 110 years old. Rabobank, N.A. has assets of $10 billion and a capital ratio of 13.94% at year-end 2009. Federal regulators consider banks well-capitalized when the ratio is 10% or greater.
“We are proud to say that we are well capitalized and can meet the lending needs of our customers without government assistance,” said Fanoe. “Our reputation as a safe, sound and secure bank is built on conservative policies and prudent decision-making.”
Headquartered in California, Rabobank, N.A. has 93 branches serving the non-metropolitan areas in the state -- in the Central and Napa Valleys, along the Central Coast, and in the Coachella and Imperial Valleys. The bank has three existing branches in Bakersfield and one in Visalia and additional Central Valley branches in Hanford, Dinuba, Reedley, Fresno and Roseville.
“In addition to these four branches, we will continue to look for opportunities to expand our existing network here in the Central Valley and other regions in our footprint,” said Fanoe.