California Oaks Bank Puts Down Strong Roots

A little more than a year ago banker Anthony Kourounis and a collective of Conejo Valley business leaders set out to raise more than $5 million through a public stock offering, to establish the California Oaks State Bank in Thousand Oaks.

Kourounis, president and chief executive of the bank, was confident he could raise the funds quickly and get the backing of the community, thanks to what he saw as a growing public desire for a return to small, service-oriented institutions.

As the bank approaches its first anniversary in February, Kourounis seems to have proven himself right on all accounts.

Over a 10-month period, California Oaks State Bank has surpassed its first-year expectations and will close the year at nearly $27 million in total assets, Kourounis said. More than 2,000 accounts have been opened during the period.

“When we first raised $5.7 million in 120 days, it was a statement on the part of the community on how much they wanted us to be here,” Kourounis said. “I think the majority of the [new customers] came from major institutions, where they felt they had gone from a bank customer to just another account number.”

Starting the new year, bank officials plan to target the Conejo Valley business community more aggressively. As part of that effort, they have hired veteran Ventura County banker Gary Trow as vice president in charge of commercial loans.

“It’s a growing area. There are a lot of businesses, a lot just starting out, moving into the area,” Trow said. “Our focus as a commercial lender will be a lot of lending to small business. Part of that focus will be putting together SBA programs and construction loans.”

Kourounis hopes the addition of Trow will round out the institution’s profile.

“This reaffirms and validates our commitment to providing a full-service bank to east Ventura County and the Conejo Valley,” he said. “Maybe it’s too soon to be considered a major player, but people will see we’re serious.”