Fueled by strong growth and consumer demand, American Riviera Bank will open a branch in the Upper Village of Montecito. The branch will be the bank’s second, and is expected to open in January 2013.
The branch will be located at 525 San Ysidro Road, Building G, behind the San Ysidro Pharmacy in the retail center owned by the Gunner family.
American Riviera Bank will be the first new tenant in the newly constructed portion of the center, and is expected to be the only community bank in the Upper Village of Montecito. The bank is committed to serving the Montecito market and, as such, signed a 15-year lease.
“We have a considerable amount of existing clients and shareholders that live in Montecito, and they have been asking us for years when we would open a branch there,” said Jeff DeVine, president and chief executive officer. “We were holding out for a very special location, and look forward to joining the other high-quality retail tenants in this center and delivering our brand of community banking to Montecito.”
The approximate 1,500-square-foot branch will occupy a Cape Cod-style building with two stories and an interior featuring bead board, decorative moldings, and a coffered ceiling consistent with the exterior theme. The new branch is a wholly local collaboration with American Riviera Bank selecting DesignARC and Campanelli Construction, both based in Santa Barbara, for the architectural design and construction of the tenant improvements.
The opening of the new branch comes on the heels of American Riviera Bank reporting significant growth. As of June 30, the bank reported loan growth of 21 percent and deposit growth of 18 percent from June 30, 2011. American Riviera Bank has also expanded its employee base from 18 to 25 during this period, and anticipates staffing the Montecito branch with at least four new employees.
American Riviera Bank is a full-service community bank, focused on serving the lending and deposit needs of businesses and consumers in our community. The bank, founded in 2006 by more than 400 local shareholders, is located at 1033 Anacapa St. in downtown Santa Barbara.
For more information, click here or call 805.965.5942.
— Michelle Martinich is senior vice president and chief financial officer for American Riviera Bank.