Valley Bank of Nevada opens Henderson location, brings community banking back to Henderson

Henderson business leaders invested capital to get new bank off the ground

Valley Bank of Nevada's Henderson locationHENDERSON, Nev. – Valley Bank of Nevada has opened a new Business Loan Center in Henderson, Nevada located at 4343 E. Sunset Road to provide the Henderson community with a community bank alternative amid the larger banks. The official grand opening ceremony and ribbon cutting of the new location will take place from 4 to 6 p.m. Monday, Aug. 31.

“Community banking is back in Henderson,” said James York, bank president and CEO.

Prior to the Great Recession, there were 14 community bank branches in Henderson. Following the 2008 financial crisis, Henderson lost 10 community bank branches that serviced Henderson small businesses and local depositors. Each of the branches averaged $100 million in loans and deposits. That’s $1 billion in loans to Henderson businesses that were taken over by larger regional or national banks, which ended up cutting off funding sources to Henderson businesses in many instances.

“Henderson needed a community bank,” York said. “There are very few community banks out here taking care of our small businesses the way they deserve. This is the bank Henderson has been waiting for.”

The need was so great, in fact, that a small group of Henderson business leaders banded together to make Valley Bank of Nevada’s Henderson location a reality. Together, the group invested the capital needed to get Valley Bank of Nevada’s Henderson location off the ground. They now form its advisory board, Team Henderson.

Those Team Henderson leaders include: D. J. Allen, chairman; Robert “Bobby” Ellis; Jerry Carnahan; Roger Erickson; Rick Perlenfein; Aviva Gordon; Marvin and Judy Schmidt; Scott Godino; Bob Anderson; Tim Brooks; Doug Beavers; Wade Leavitt; Michael Spears; Vicki Dessaints; and Rick Smith.

“This would not have happened without this group,” York said. “They’re strong community leaders. They’re our eyes and ears, ensuring we continue to be the bank Henderson needs. We have no out-of-state influence.”

Additionally, York added, “Economic studies have shown that for every $1 million in small business loans, on average 20 jobs are created in the community. If we can lend $50 million to the Henderson market in the next few years, we can help create 1,000 new jobs for the community.”

Even in banking circles, the bank’s establishment is big news.

“The FDIC is not issuing new bank charters,” York said. “A bank opening a new location right now is a big deal.”

Valley Bank of Nevada’s Henderson location will spend its first year serving as a commercial loan center, during which time it will build enough assets to operate as a full-service branch – slated to open in mid-2016.

Valley Bank is known for being fiscally responsible – one of the main reasons it’s the oldest of the four local community banks to survive the Great Recession.

“We made it through the worst economic downturn in banking history in our lifetimes,” York said. “That wasn’t an accident. We are extremely careful with our customers’ money. We survived because of fiscal conservatism and a commitment to provide workout loans for our clients.”

As a commercial loan center, Valley Bank’s Henderson location currently provides the following services: operating capital lines, business expansion loans, account receivable financing, commercial real estate loans, SBA 7A and SBA 504 loans; equipment and inventory loans; and tenant improvement loans.

“One of our customers’ favorite offerings is our free courier service,” York added. “They enjoy being able to stay in the comfort of their offices and not stress about their financial transactions, and it’s a service we are happy to provide.”

The bank will continue to hold relationships with customers in high regard by being accessible, flexible and personal. Because it’s a community bank, when a decision is made to approve a loan, it is made by York and his small team of local directors. If a customer wants to speak to York, his on-site office opens directly into the bank’s lobby.

“We have the ability to make common-sense loan decisions on site. We look at the people, not just the numbers,” York said. “There aren’t many banks that are able to do that – to truly help the local small business community in such a meaningful way.”

To further the Henderson bank’s community feel, York worked with Henderson Libraries to obtain images of Henderson’s early days, which can be seen throughout the bank’s lobby and offices. The Henderson Fine Art Collection is a nice addition to a similar art collection the bank produced for its North Las Vegas Office.

Valley Bank will also provide its Henderson customers with its staple offering of Starbucks coffee and freshly baked Otis Spunkmeyer cookies in the lobby, which will have a café/lounge feel complete with free Wi-Fi.

“We like to spoil our customers,” York said.

Established in 2005 as Bank of North Las Vegas, Valley Bank was the first and only bank to be chartered in North Las Vegas. Under York’s leadership, the then Bank of North Las Vegas became profitable within 14 months, having raised $20 million in capital. Valley Bank of Nevada took on its current name in August 2011 in anticipation of future expansion.

Before using the legendary Valley Bank of Nevada name, however, founders James York and Jay Blood personally sought permission from the Thomas family, which established the original Valley Bank of Nevada. Not only did the family give their blessing, but Tom Thomas appeared as a keynote speaker at the name changing party and reminisced about the original Valley Bank and what it meant to the community.

Valley Bank of Nevada is the first bank in Nevada to participate in Gov. Brian Sandoval’s State Small Business Credit Initiative program, which assists in the growth of small and micro-enterprise businesses throughout the state of Nevada, injecting more than $5 million in the local economy and aiding in the creation of more than 100 local jobs.

Dedicated to bringing the valley back through supporting small business, Valley Bank of Nevada now has two valley locations. The bank’s philosophies are built upon the time-tested principles of service, integrity, fiscal conservatism and commitment to the community.

For more information on Valley Bank of Nevada’s new Henderson location, call 702-558-7310.