ONTARIO, Calif., Sept. 7, 2005 (PRIMEZONE) -- Mission Oaks National Bank announced it has opened a full-service branch near Ontario Mills mall in the heart of Ontario's business district.
Located near the 10 Freeway and North Milliken Avenue, Ontario Business Center is Mission Oaks' third branch and the first outside the Temecula Valley. The bank's two other branches are located in Temecula.
The branch, which occupies a 5,500-square-foot office at 800 N. Ferrari Lane in the Ferrari Corporate Center, ultimately will include a staff of 10 professional bankers offering a full-range of banking services and products including working capital, lines of credit, term real estate and construction financing.
The Ontario Business Center is open from 9 a.m. to 5 p.m. Monday through Thursday and from 9 a.m. to 6 p.m. on Friday.
"We are excited about bringing our highly personalized style of banking to the heart of the Inland Empire," said Keith Johnson, Mission Oaks executive vice president. "More importantly, we look forward to serving the region's business community and helping it grow."
The Ontario Business Center will be headed by Michael Pate, a senior vice president and seasoned commercial lender with years of experience helping businesses in the Interstate 10 and 15 freeway corridors to grow and prosper. The Rialto resident also is active in community and civic affairs.
Mission Oaks National Bank is a wholly owned subsidiary of Mission Oaks Bancorp, a one-bank holding company created in August. Mission Oaks is a federally chartered bank with assets of nearly $150 million that is committed to serving consumers and businesses in Southern California. The bank offers personalized services and products through three full-service branch offices and loan production offices in San Diego and Phoenix.
Mission Oaks Bancorp common stock is traded over the counter under the stock symbol MOKB.OB (OTCBB:MOKB).
Mission Oaks National Bank recently was ranked among the most profitable community banks in California according to two separate surveys. Findley Reports, an Anaheim-based banking industry consulting firm, reported that Temecula-based Mission Oaks at the end of 2004 was the second most profitable bank in California among the 48 institutions that have opened their doors since 2000. In a WedBush Morgan Securities report on community banks across the United States, Mission Oaks ranked 12th among 136 California community banks with a return on assets of 1.39 percent.
For more on Mission Oaks National Bank visit its Web site at missionoaksbank.com.
The Mission Oaks National Bank company logo is available at http://media.primezone.com/prs/single/?pkgid=471.