Business Bank of Nevada has played an active role in supporting the business community since it opened in 1995. Today, it is one of the largest community banks in the state, with 70 banking professionals serving more than 5,000 business and consumer accounts in Nevada. With three branches in Southern Nevada and one in Carson City, and a recent expansion with new loan production offices in South Lake Tahoe and Minden, Business Bank of Nevada is poised for careful, planned growth, but remains focused on its greatest strength – people.
“Our people prefer to focus on the relationship, not just the transaction,” said John Guedry, president and CEO of Business Bank of Nevada. “We call our branch managers ‘relationship managers’ because that’s what they’re doing – establishing relationships. We take time to get to know our clients’ needs, their business and their objectives, and then we think ahead to help them reach their goals more quickly.”
Not surprisingly, Business Bank of Nevada’s primary customers are businesses (especially small and medium-sized businesses) interested in a mix of products and services designed to meet their specific needs. As a niche bank, Guedry said the emphasis is on fostering business growth. “There is a big difference between us and a very large financial institution,” he said. “A large institution can be more things to more people, but it can’t be everything to certain people, like we can.”
Guedry is especially proud of his bank’s status as a preferred SBA lender, one of the top in Nevada, and a recognized leader in granting loans to minority-owned and women-owned businesses. “The minority sector is growing in many ways, so we feel it is important to stay in tune with its needs, which includes staffing multilingual team members to service all ethnic segments of our community,” said Guedry. “Women-owned businesses also continue to be a rapidly growing force in the community. In fact, we have more women relationship officers than men, because we feel they have a better understanding of the needs of women business owners.”
Business Bank of Nevada has also cultivated a reputation for business giving and philanthropic involvement. Its volunteer network enables dozens of bank employees to share their time and talents with area churches, schools, charities and community groups. In addition, the bank’s management and team members serve on a variety of boards and committees of worthwhile non-profit and economic development organizations throughout its service areas.
“We have a duty and a responsibility to reinvest into the communities in which we live and work,” said Guedry. “Our employees play an active role in these efforts. If an employee gets involved in a non-profit organization, we try to support that involvement, whether it be financial contributions or in-kind donations. The result is a better community.”
Support for the community and fostering business growth also make a better bank. Strong first quarter earnings showed a 95.7 percent increase in the bank’s net after-tax earnings from the previous year – $457,622, or $0.27 per share, compared to $233,817, or $0.14 in first quarter 2002. Business Bank of Nevada continues to be one of the fastest-growing independent banks in Nevada.
“If we see continued improvements and more recovery in the local and national economies, we will expand into other submarkets of the state – both north and south,” said Guedry. “As our economy recovers, clients will have greater needs. And we’ll want to be there when that happens. I can’t think of a better place to be doing business. Nevada has weathered financial and non-financial catastrophes and has still remained strong.”