Heritage Bank of Nevada has been serving Northern Nevada for eight years and is locally owned by 350 families. With over 5,000business and consumer accounts, Heritage Bank’s success is measured by its record growth. During the past 24 months, the bank has matched the cumulative growth achieved during the first five years of its existence.
“We’re not a conventional bank,” said Stan Wilmoth, president and CEO of Heritage Bank of Nevada. “We’re a small bank with big ideas about how to make our customers happy. Every customer is important to us.”
Not surprisingly, Wilmoth’s desk sits on the first floor of the main branch on South Virginia Street in Reno. It is not uncommon to see him talking to customers as they come in and out of the branch, addressing each of them by name. Customers find the bank’s key personnel just as easily accessible. Bank officials conduct business, make loan decisions and provide personal attention from their desks on the main banking floor. “When you walk into Heritage Bank, people know you,” said customer Juan Ibarra, owner of El Rosal Tortilla Factory.Roy Walker, owner-president of WES Construction, agrees. “What I like about the bank is the personal service you get. You get that from the tellers all the way through management.”
Part of the bank’s support for the community is demonstrated in the main Virginia Street branch, where works from local artists are displayed on the walls. The bank also hosts semi-annual artist receptions.
During the past two years, the bank’s loan portfolio has increased 109 percent to a record high of approximately $90 million. The low interest rate environment in the past year created a huge increase in long-term real estate loans. This demand allowed the bank’s Real Estate Mortgage Division to contribute substantially to the profitability of the bank.
Heritage Bank of Nevada offers a vast array of small business products and services. In addition to offering loan services, business banking and personal banking, it offers free courier service to businesses. The bank also provides a free comparative analysis for potential customers, comparing their current bank’s service charges to Heritage Bank’s. For small businesses that do not have a CFO on staff, Heritage Bank is also available to serve as their financial advisor, providing an analysis of the company’s financial situation.
A key objective of the bank is to attract and retain quality employees, said Wilmoth. “Doing so will help maximize sustainable earnings, while enabling us to be a responsible business that renders high-quality service to our customers. All our employees, officers, directors and shareholders are asked to share our vision with potential and existing customers, investors and future employees.”
Heritage Bank currently has three locations in Reno – on South Virginia Street in south Reno at Damonte Ranch, and a new branch at Seventh Street and Keystone – as well as a branch in Carson City. Even with the dramatic cost of branch expansion activity, Heritage Bank has been able to increase combined equity and reserves by 31 percent over a two-year period.
“I believe we have created an environment where customers, employees and shareholders alike benefit from Heritage Bank’s existence and tremendous potential,” said Wilmoth. “When you do your banking with us, we want you to notice the uncomplicated, professional and friendly kind of attention.”