Strategic Growth Bancorp Incorporated (SGB), a bank holding company developing a regional community bank enterprise in the Southwestern United States, announced today that First National Bank of Santa Fe has become the newest member of the SGB family of banks. SGB is an organization comprised of community banks with overlapping management and operations. The organization also includes Mile High Banks in Colorado, Bank of the Rio Grande in Albuquerque and Las Cruces, New Mexico, and Capital Bank in El Paso, Texas.
Kenneth McCormick and Greg Ellena will serve as Co-Chief Executive Officers at First National Bank of Santa Fe with Michelle Coons serving as President.
"We are excited to welcome First National Bank of Santa Fe to the SGB family of community banks. We are operating in the most dynamic and exciting area of the country and are committed to making a significant investment in the economic growth of our region. First National will lead the way in the SGB vision of community banking excellence," said Kenneth McCormick, CEO of SGB New Mexico and Colorado Banks.
Greg Ellena, Co-CEO of First National Bank of Santa Fe, added, "This is an extraordinary opportunity for First National to elevate our ability to deliver innovative, state-of-the-art products and services to our customers. With an already strong financial standing, we are now poised to effectively compete with the largest national banks, while retaining our community roots and local sensitivity."
The First National Bank of Santa Fe brand will continue to represent a rich heritage of community commitment and a tradition of service excellence. First National remains committed to serving their clients with the Bank's customary high level of expertise and personal attention.
First National Bank of Santa Fe's record levels of capital and liquidity, sustained profitability and strong ongoing earnings are credited as key factors in the success of this achievement. The Bank continues to earn high ratings from independent rating agencies including a 4-star "safe and sound" rating from Bankrate and a 5-star rating from Bauer Financial Inc.*
*Star ratings current as of April 30, 2013 based on December 31, 2012 financial data.
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