Biz News: F&M; Bank opens in Corona del Mar

A new Farmers & Merchants Bank opened with a Roaring '20s-themed party Jan. 30 in Corona del Mar.

The event featured vintage cars, a red carpet lined with "clamoring paparazzi," newsies, jazz singers and appetizers, according to a news release.

About 200 guests attended the party at the recently renovated bank location on the corner of MacArthur Boulevard and East Coast Highway.

The 4,000-square-foot bank building was modeled after F&M; headquarters in downtown Long Beach. It features a neo-Italian Renaissance style with Grecian-style columns.

Shuttle service to the party was provided from the Newport Beach Country Club. Regional Branch Manager Jeff Spinelli, a 29-year employee, F&M; CEO Daniel Walker and President W. Henry Walker greeted guests.

Several area politicians, or their representatives, attended, including Newport Beach Mayor Pro Tem Ed Selich and staff members from the offices of U.S. Rep. Dana Rohrabacher (R-Costa Mesa), state Sen. Mimi Walters (R-Laguna Niguel) and state Assemblyman Allan Mansoor (R-Costa Mesa).

Bernie Svalstad of the Corona del Mar Business Improvement District gave the bank a beautification award and CdM Chamber of Commerce President and CEO Linda Leonhard helped with the ribbon-cutting ceremony.


Balboa Island website redesigned, a website dedicated to promoting tourism, has been redesigned.

The site, which backers say is now easier to navigate, was rebuilt with mobile devices in mind. About half of the site's traffic comes from mobile users, according to a news release.

Among the enhanced features are newly formatted video footage meant to highlight "the lush natural beauty and distinguished charm of Balboa Island," according to the release.

There are also vacation rental property listings, a list of things to do, a restaurant guide, a community calendar and other information useful to traveler and locals.


RPM Mortgage makes new hire

Mortgage-industry veteran Kevin Rudrud has joined the Logemann Group at RPM Mortgage in Newport Beach.

Rudrud began working for his father's mortgage company in the late 1990s and has been in the business ever since. He graduated from UCLA in 2000 and worked for Bear Stearns in the residential mortgage team.

"In the 14 years of his career so far, Kevin has closed over $1 billion in residential mortgages," a news release said.

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