California Oaks State Bank

/Home/1. Search California Banks/Banks - Conejo Valley, CA/Banks - Thousand Oaks, CA

California Oaks State Bank

Address:
Thousand Oaks Office
50 West Hillcrest Drive
Thousand Oaks, CA 91360

805-496-6774 - Tel
877-222-6774 - Toll Free
805-496-0014 - Fax
800-804-1797 - Toll Free Telebanking

HISTORY:

Cal Oaks began operations on February 9, 1998 in the city of Thousand Oaks, California and added a branch office in Simi Valley, California in October 2002. The Bank has grown to over $108 million in assets and has established a reputation for exceptional personal service and attention. Our primary focus is to the business and professional service companies in our market.

Our customers are small to medium size businesses, professional firms and residents. Our two offices serve the Conejo Valley and Simi Valley, in addition to communities within Eastern Ventura County and Western Los Angeles Counties. Cal Oaks provides a full range of banking products and services including commercial and real estate loans as well as cash management products and deposit services. The Bank has a unique capability in its diversified lending capabilities in addition to the customary community bank credit products. We have a special expertise in commercial real estate financing, accounts receivable financing, as well as SBA loans. We tailor our response to your credit situation and provide quick response in meeting those needs.

Continuing Financial Success

The Bank was designated a Premier Performing Bank in 2006 by The Findley Reports, an independent service that rates the financial performance of California Banks. In 2006 Cal Oaks net income increased 44.7% from $1,118,997 in 2005 to $1,619,024. Our net loans were up $13.3 million, or 17.6%, and deposits increased $7.5 million or 8.9%. The Bank has a strong capital position of $14.2 million and the loan to deposit ratio increased to over 97% from 90% in 2005.

The first quarter 2007 results continue to show strong earnings and growth. Net income was $200,000, up 8.1% over 1st quarter 2006 while net loans increased 10.4%. Please see
our “financial Results” page.
Bank Management Update-New President & CEO

At the Bank's 2007 annual meeting held on July 19, 2007, Mr. Robert E. Lewis, Chairman was pleased to announce that the Bank has hired John A. Nerland as our new President and Chief Executive Officer. Mr. Nerland will be joining the Bank on August 13th and he brings a wealth of experience to the position. The Board believes Mr. Nerland, along with the current management team, will be instrumental in helping the Bank grow and continue to be profitable. Mr. Nerland replaces Mr. Cole W. Minnick who had previously submitted his resignation from the Bank on April 15, 2007 to pursue other opportunities.

New Simi Valley Branch Location

The Bank has finalized plans for a permanent Simi Valley branch location at the new Simi Valley Corporate Point, a premium office building under construction located on First Street, adjacent to the Simi Valley Town Center. The new office is scheduled to open in April 2008. We are excited about the new location and look forward to expanding our current customer base in Simi Valley.

Supporting the Community

The Bank actively supports many community charitable organizations from the United Way, to the Alliance for the Arts (a nonprofit arm of the Thousand Oaks Civic Arts Plaza), YMCA, American Cancer Society and other local charities. The Bank also presents annually two Reagan Library Scholarships, ten Moorpark College Scholarships, as well as supports the Simi Valley Education Foundation. Officers and Directors are also members of the Rotary Clubs and other service clubs in the area.

©2010 California Oaks State Bank. All rights reserved.