Candace Wiest, president and CEO of West Valley National Bank, announced WVNB has entered into an agreement with National Bank of Arizona to acquire all of the assets and deposits of the Gila Bend branch of NBA. The transaction is anticipated to increase WVNB’s asset size by 20 percent.
“As the West Valley’s only locally owned community Bank, we are delighted to be able to increase our asset size by increasing our footprint throughout the West Valley,” Wiest said. “We believe the small businesses, medical and dental professionals and retail clients in Gila Bend provide the Bank with an opportunity for loan and deposit growth. In return we are committed to providing the Gila Bend community the same great service and community leadership we have demonstrated in the West Valley communities and the metro area. I am also delighted to announce we intend to retain all of the existing stakeholders currently employed at NBA. “
This transaction is anticipated to close during the first quarter of 2015 subject to regulatory approval
Candace Hunter Wiest, president & CEO of West Valley Bancorp., Inc. announced the launch of AZ Dental Bank. This specialty group of WVNB premiered at the Western Regional Dental Convention in Phoenix this week.
According to Wiest, “Our Bank has a significant number of shareholders and Directors in the medical and dental industries. They believe local physicians and dentists are under-served and would welcome an opportunity to do business with a local Bank. As a result, we have spent the last thirty months learning about the challenges and opportunities local dentists face every single day. We believe that a Bank founded by dentists and physicians for physicians and dentists will be able to provide superior service and products because of that knowledge. We also have a Community Board consisting of professionals who serve the dental industry who have helped guide us as we formed this new entity. They will also contribute regularly to our website to provide local expertise for our clients and potential clients.”
This new entity will be headquartered at 5635 N. Scottsdale Rd., Suite 150, Scottsdale. The website is AZDentalBank.com.