Foothill Independent Bancorp Expands into Riverside County with 10th Branch

Strategic Insights -

Foothill Independent Bancorp, a community bank based in Glendora, California, has announced its expansion into Riverside County with the opening of its 10th branch in Corona. This move is in line with the company's vision to remain a community-focused regional bank in its current counties of Los Angeles and San Bernardino, while introducing itself to new communities within the region. George E. Langley, president and CEO of Foothill Independent Bancorp, stated that the company's expansion plan aims to enable it to maintain its rank in the top 10 percent of its peer group without compromising its vision of quality customer service.

Key Takeaways:

  • Foothill Independent Bancorp is expanding into Riverside County with the opening of its 10th branch in Corona, as part of its vision to remain a community-focused regional bank.
  • The company's expansion plan began in March with the opening of its Glendale office and continues with the announcement of the Riverside County expansion.
  • The Corona office is the first step in introducing Riverside County to the company's unique brand of first-class customer service.
  • Foothill Independent Bancorp has total assets of $343,233,453 and shareholders' equity of $27,851,065 as of March 31, 1995.
  • The company operates nine commercial banking offices serving the Los Angeles and San Bernardino counties, and a loan center focused on local construction and small business loans.
  • Foothill Independent Bancorp is a one-bank holding company for Foothill Independent Bank.

Statistics:

  • Total assets: $343,233,453 as of March 31, 1995.
  • Shareholders' equity: $27,851,065 as of March 31, 1995.
  • Number of branches: 10, including the newly opened branch in Corona.
  • Number of commercial banking offices: 9, operating in Los Angeles and San Bernardino counties.
  • Loan center focus: Local construction and small business loans.

Sources:

  • BUSINESS WIRE, May 9, 1995.