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Tuesday, December 11 , 2018, 1:43 am | Fair 46º


Rabobank to Open 4 New Branches in Central Valley

The company is targeting locations in Bakersfield, Visalia and Tulare

Rabobank, N.A. plans to establish four new branches in the Central Valley this year, regional president Anker Fanoe has announced.

The community bank will file applications with the Office of the Comptroller of the Currency, its federal regulator, to open two new branches in Bakersfield and one each in Visalia and Tulare. Final site locations for the branches are being finalized.

“This expansion will allow us to serve our customers better and increase our client base by providing more locations to access our services,” Fanoe said. “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 Modesto, two in Merced, and one each in Los Banos, Atwater, Turlock and Newman. The bank also opened a branch in Carpinteria in 2009 and recently purchased Napa Community Bank.

“Our long-term strategy and commitment to our customers is to grow our branch network in California and because of our financial strength, we are able to do so even during these challenging economic times,” Fanoe said.

Rabobank, N.A. is part of the Rabobank Group, one of the world’s safest banks with more than 110 years of trustworthy service. Rabobank, N.A. has assets of $10 billion and a capital ratio of 13.94 percent at year-end 2009. Federal regulators consider banks well-capitalized when the ratio is 10 percent or greater.

“We are proud to say that we are well capitalized and can meet the lending needs of our customers without government assistance,” Fanoe said. “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 nonmetropolitan areas in the state.

“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,” Fanoe said.

— Andy Frokjer is vice president of advertising and communications manager at Rabobank, N.A..


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