Investor Update July 2019
It has been a phenomenal and busy year for Nano Banc! Internally, our team continues to expand. We have grown to almost 60 employees and have taken on two summer internships. We successfully opened a new sales office in Westwood, Los Angeles and renovations at our Murrieta branch are scheduled to begin this summer.
Nano Banc celebrated its one-year anniversary in May. Colleagues gathered on this joyous occasion for a beautiful evening at Fazeli Winery in Temecula, as well as one of our favorite local spots, Heirloom Kitchen, near our HQ. With a perfect view and even better company, it was a great opportunity for employees to meet new team members and to just enjoy the company of one another. We were even treated to a magic show!
AROUND THE OFFICE
It is our absolute pleasure to announce Sandra Lease’s promotion from SVP of Operations to EVP, Chief Operations Officer. Sandra has unquestionably been a driving force in the formation of Nano Banc Operations and continues to inspire her team as the Banc evolves.
PREMIER DEPOSITS TEAM
Nano Banc celebrated the one-year anniversary of its Rockstar premier deposits team: Robert Hasler, Shelby Pond and Michael Fortney.
Their accomplishments were highlighted in the Orange County Business Journal. Their contribution towards Nano Banc’s extraordinary success continues to exceed expectations and we are very excited for what the future holds.
Nano Banc continues to have strong momentum across every important metric. We ended the second quarter with over $700 million in assets, with no brokered loans, no brokered deposits, and all core client relationships. Additionally, we had our first quarter of GAAP profitability.
To continue this trajectory, it is important that Nano’s investors and commercial clients continue to bring over their operational deposit accounts. Management continues to remain focused on increasing commercial deposits by an extra $100 million by year-end.