BANKING / FINANCE

After more than 2 1/2 years in Irvine, the county branch of First Business Bank has moved into its permanent office--three floors below its temporary quarters in the Jamboree Center.

The local branch of the Los Angeles-based bank made its move with much fanfare last week, as 400 guests celebrated the opening at the new office in 2 Park Plaza.

First Business, which caters strictly to mid-size companies, has been building its county business a little faster than first projected, said Lance C. Blue, a veteran county banker who heads the bank’s local efforts.

About 30 companies with sales of $5 million to $100 million a year are banking at the Irvine branch of First Business, accounting for about $27 million in deposits, or about 7% of the bank’s $375 million in deposits, Blue said.

“We don’t want our Orange County operation to get too large because the profitability curve changes as you get bigger,” he said. “But our goal for this office is to reach 75 to 100 clients and to have about $100 million in total deposits.”

The bank, which also has branches in Torrance and downtown Los Angeles, serves mainly manufacturers and wholesale distributors.