Tag Archives: Ed Zito

bank loan

Alliance Breaks Ground on Flagstaff Banking Center

Alliance Bank of Arizona, the state’s largest locally owned and headquartered bank, broke ground Friday on a new multimillion-dollar Flagstaff banking center.  Alliance Bank of Arizona President Ed Zito hosted the groundbreaking event with Executive Vice President Sherri Slayton. The event was also attended by Flagstaff Mayor Jerry Nabours and President and CEO of the Flagstaff Chamber of Commerce, Julie Pastrick.

“Since we opened our first branch in Flagstaff eight years ago, we have been committed to fueling our local economy,” said Sherri Slayton, EVP and Regional Manager of the bank’s Northern Arizona division. “As a long-time resident and banker in this area, I am especially excited to see Flagstaff businesses rebound and flourish. Our Flagstaff team, with experienced local bankers who know this region, is proud to serve the people who make Flagstaff the extraordinary community we call home.”

“Today’s groundbreaking is testimony to the strength of the Flagstaff Alliance Bank team,” said Julie Pastrick, President and CEO of the Flagstaff Chamber of Commerce.  “Under the leadership of Sherri Slayton, they have consistently demonstrated a high level of financial acumen and community outreach that allows for this large investment in our local Flagstaff community.”

The 6,000-square-foot center marks the bank’s significant expansion in the area and the region. The facility is an extension of Alliance Bank’s growth in key business markets as home to a large number of commercial and industrial businesses, enabling the bank to better serve Flagstaff customers.  It is scheduled to open in the summer of 2014.

Alliance Bank, which started with a single office and 20 employees in 2003, is now the largest locally owned and headquartered bank in the state with $3.3 billion in assets. A leading business lender, it has built a reputation for its responsiveness, local expertise and reliability as a lending resource.

Alliance Bank of Arizona is a division of Phoenix-based Western Alliance Bank.

Kyrsten Sinema

AzBA Brings Regulatory Burden to Sinema

Seldom will you find a Member of Congress spending his or her few days out of session at a community bank.  That’s just where freshman U.S. Representative Kyrsten Sinema spent Wednesday afternoon. “It’s our job in Congress to strike the appropriate balance between a secure banking industry and adequate access to capital for families and small businesses,” said Sinema.  “In order to fortify the banking community –a core component of Arizona’s economy – we must strengthen access to capital for middle class families as well as review the impacts of regulatory burdens.”

The Arizona Bankers Association brought Representative Sinema to Arizona Bank & Trust in Phoenix on Wednesday.  Bank President and CEO, Jerry Schwallier, said “[t]his was a great opportunity to demonstrate to Arizona’s only banking committee Member how the decisions made  in Congress impact the people we serve in Arizona.  I wish more public officials would take the time to do what Ms. Sinema did today.”

Community bank presidents Gail Grace, Sunrise Bank; Mike Thorell, Pinnacle Bank; and Ed Zito, Alliance Bank, all attended the briefing along with Paul Hickman, CEO of the Arizona Bankers Association.  Hickman commented, “[t]he community banking industry in Arizona today is facing increased pressure on all fronts.  Our association’s highest priority is to help both banks and entire communities by acting as their liaison to the government.”

The industry is working to grow the economy in the wake of the 2008 recession while also responding to the most comprehensive banking reform law of modern times.  The Dodd Frank Wall Street Reform and Consumer Protection Act of 2010 is 2,319 pages long.  By comparison, the last major banking industry reform law – Gramm Leach Bliley – was 144 pages.  The Dodd Frank Act directs 398 separate rulemakings, of which 148 have been finalized, 121 are in some form of promulgation and 129 have yet to be even proposed.