First Community Bank opens sixth banking center in P.S.

Public Record, The, Apr 03, 1998

PALM SPRINGS--This city will be home to a new local independent bank as First Community Bank opens its sixth banking center at 601 E. Tahquitz Canyon Way at Calle El Segundo in the former Bank of Palm Springs.

Near the heart of downtown Palm Springs, the new office provides full coverage of services for the entire Coachella Valley in concert with First Community Bank's successful branches in Cathedral City and Indian Wells.

"While other financial companies are in the midst of merging, downsizing, consolidating, and reducing personnel, First Community Bank's in the grow mode," according to Bill Powers, First Community Bank president, CEO.

"Our 5,100 square foot facility will feature an ATM plus three drive-up teller lanes and will house a Business Loan Center operation for customers' convenience," Powers said.

First Community Bank was started in 1980 with its first office located in Yucca Valley, closely followed by branches opening in Joshua Tree and Twentynine Palms in the High Desert.

Since 1990, First Community Bank has become a leading financial force in the Coachella Valley with the opening of its first location in the Coachella Valley in Cathedral City, followed in 1996 with a branch in Indian Wells for First Community Bank's East Valley banking center.

The bank officers and directors are among the active leaders in both business and charitable organizations in the Valley including United Way and the Coachella Valley Economic Partnership.

Senior Vice President Stu Bailey will oversee the operations of the new Palm Springs office and pledges a range of new services for both personal and business banking customers.

"With the opening of the Palm Springs office, First Community Bank introduces its Bank of Wheels personal courier program that will take the bank direct to he customer' s door to pick up their deposits," Bailey said.

"In addition, First Community Bank does not charge a fee for ATM use by our customers, whether they use the ATM at our location or at some other location. Most other banks levy an ATM service charge, we do not," Bailey explained.

Starting the Grand Opening Week (March 28 - April 3) a special Palm Springs Charter Account was available with no minimum deposit required, offering free checking, with personal or business checks, deposit stamps and a variety of personal banking services.

Also being offered free are travelers checks, cashier checks, money orders, domestic wires, Notary Public services, telephone transfer charges and stop payment orders. This offer will be available through June 30.

"This new Palm Springs addition to our banking family is the culmination of our goal to become The Community Bank for the entire Coachella Valley area. The endorsement of our personal, community oriented banking service by our customers has been phenomenal and we look forward to even more Palm Springs residents and businesses joining the First Community Bank family," stated President Bill Powers.

Another branch bank is under construction on the corner of Date Palm Drive and McCalium Way in Cathedral City comprising 4,000 square feet. It will supplement the branch at 35-871 Date Palm Drive.

The new bank in Palm Springs will occupy about one half the space formerly occupied by the Bank of Palm Springs--the other half to be leased by the A.G. Edwards stock brokerage firm. First Community is traded on the NASDAQ stock exchange under the symbol SCDE. It is currently traded at 3.625 per share.