Investor Update October 2018
It has been a fantastic quarter for Nano Banc, full of successes and growth. We are excited to announce the Irvine branch location is open and is now our official headquarters! Our Nano-family has also grown to a total of 49 personnel due to the increase in loans and deposits.
AROUND THE OFFICE
Beta testing on the ATLAS Secure Wire Platform system is complete and the hardware units have been installed, pictured right.
In September, we launched a new Banc-wide software called Horizon. It was a smooth transition and clients seem to be happy with their online banking experience.
IN OTHER NEWS…
On October 16, 2018 the Executive Management Team, including our new Chief Compliance Officer, had a very positive in-person meeting with the FRB and DBO to discuss our growth and review our 3rd quarter results. The regulators were impressed by our progress and when asked how Nano Banc compared to our competitors, they said there is no comparison!
Nano Banc ended the quarter just under $460MM in total assets, including $400MM in deposits! The Banc was cash low profitable but expects GAAP profitability by year-end.