Sunday, July 24 , 2016, 4:39 am | Fair 61º

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Business

Bank of Manhattan Expands to Downtown Santa Barbara

Santa Barbara welcomes Bank of Manhattan to the city’s financial district in the heart of downtown.

The bank’s mortgage division will now occupy 2,455 square feet at 1004 Santa Barbara St., at the corner of Carrillo and Santa Barbara streets.

The Bank of Manhattan originated in El Segundo with the goal of building loyal partnerships with employees, clients, shareholders and the community in which they serve. A bank founded by entrepreneurs, the Bank of Manhattan is committed to offering modern technology for the most efficient, reliable and professional service.

Michael Martz of Hayes Commercial Group represented Bank of Manhattan in the lease transaction, while Kristopher Roth and Francois DeJohn, also of Hayes Commercial, represented the lessor. A 100 percent remodel of the suite, which includes five private offices, made 1004 Santa Barbara St. arguably the nicest and most sought-after space in the downtown banking area in recent months.

“This is a Class A office space in a very prominent downtown building with great visibility,” said Martz, who knew how important it was for the bank to find the right space for its first mortgage lending office in the Santa Barbara area. “The space lends itself very well for Bank of Manhattan. It is a high-profile building in the financial sector of downtown Santa Barbara.”

Martz conducted an extensive search, along with Adam Black, vice president and senior loan officer with Bank of Manhattan, and they held out for the best location for the bank’s presence in the Santa Barbara community.

“Banks have definitely shown an increase in activity with interest rates being low, and it does seem that many are expanding their mortgage lending footprint within this current economy,” Martz said.

Black agreed: “In general, mortgage revenue is the leading source of revenue for community banks, and there is a bigger focus on rapid expansion.”

Black expressed great enthusiasm for Bank of Manhattan’s new home in Santa Barbara, adding, “It is wonderful to be set up here in such a nice space in the banking quadrant of the city because it was really important to us, and we really only wanted to be in this building. We are so happy with all of the help we received from Hayes Commercial and all of the effort they put in to help us find and secure this location.”

— Ted Hoagland is the marketing manager for Hayes Commercial Group.

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