Sanwa Bank California, the state's fourth-largest bank with $8.1 billion in assets and offices from San Diego to San Francisco, has opened its 107th branch, at 180 N. Moorpark Road in Thousand Oaks.
By opening an office in the Conejo Valley, Sanwa officials said they were making good on their promise to fill gaps in banking services that have plagued smaller communities when Sanwa's larger rivals have merged, closed offices and fled to more profitable regions.
"We know we can attract many former customers of these merged institutions in places like the Conejo Valley because we've been successful in attracting these customers in other similarly situated markets, like San Clemente, Visalia and Stockton," said Gene Galloway, Sanwa executive vice president for retail and community banking.
Sanwa has operated a loan office in Thousand Oaks for four years and, according to Galloway, the success of that office and the dwindling supply of banking services offered by competitors were the primary reasons the bank decided to open a full-service branch here.
Jodi Chavin, who was manager of Sanwa's Northridge branch and has managed the Thousand Oaks loan office, is the new branch manager.