October 9, 2014
By Bob Coleman
Editor, Coleman Report
“HomeStreet announced that it has entered into an agreement to acquire Simplicity Bancorp (SMPL). Simplicity is headquartered in Covina, CA and has 7 retail bank branches in Los Angeles and San Bernardino counties.
“This is a positive development for the bank, as it will help it diversify its revenue stream, fill out its mortgage platform and strengthen its capital position. It will also allow HomeStreet to establish a stronger presence in Southern California, an area it has been targeting for some time. HomeStreet Bank plans to add commercial lending, including SBA loans, to the products currently offered by Simplicity Bank.”
“I’m thrilled to see our professional team of experienced business bankers expand here in Southern California,” says Caroline Harkins, Bridge Bank’s Southern California regional manager. “Our team is diverse, talented and knowledgeable, and has a proven track record of being sharply focused on the success of their clients.”
Bridge Bank’s recent hires in Southern California are Jorge Visitacion as Capital Financial Division (CFD) team leader, Elisabeth Schutz as senior vice president, ESOP Advisory Group, and JC Timmons as Corporate Banking team leader. Additionally, Grant Simon has relocated from Bridge Bank’s headquarters in San Jose as relationship manager in the Capital Finance Group.
Join Coleman and Franchise Registry Webinar: “Financing Franchise Brands, Opportunities or Traps?”
When: Thursday, November 6, 2014
This webinar aims to arm you with an understanding of common misconceptions and benefits of working with franchises, what to look for when working with a franchise business and what tools are immediately available for you to use in order to make accurate and expeditious loan decisions. Learn how more than 5,600 lender members use the Franchise Registry (www.franchiseregistry.com) and why this is the essential tool you need in growing a strong and reliable franchise portfolio.
Upcoming Small Business Lending Conferences
NAGGL 2014 Annual Meeting, October 28-30, Huntington Beach
2014 Upstate NY SBA Lender Conference, November 5, Rochester
American Banker/RMA Small Business Banking Conference, November 19-21, Miami
Coleman’s 7th Annual SBA Secondary Market Forum, December 2, Washington D.C.
Coleman’s 15th Annual Rural Lender’s Roundtable, December 3, Washington D.C.
2015 Southeastern Small Business Lenders Conference, February 23-25, Location TBA