Bank of the Sierra to open Farmersville location

Bank of the Sierra will be adding its ninth Tulare County location in early 2010 in a former bank building in Farmersville.

The bank, headquartered in Porterville, purchased the Farmersville building, located at 400 West Visalia Road, from the Federal Deposit Insurance Corporation in September.

Its opening, scheduled for March, will mark the 25th Bank of the Sierra location in the Central Valley.
James Holly, President and CEO of Bank of the Sierra, said the new addition is part of an overall strategy of achieving market density in the four counties in which the bank operates.

“We’re going to grow our bank, rather than expanding into new areas,” Holly said.
Bank of the Sierra is the largest independently owned community bank headquartered in Southern San Joaquin Valley.

According to Holly, the closure of the bank previously occupying the purchased building left the town without a banking facility.

“It’s a great location and a wonderful opportunity for us to enter that market,” he said.
The 30-year-old Farmersville building will undergo a remodel prior to its opening, including installing new drive-through lanes.

The older lanes will be removed, and a new roof and landscaping will be part of the renovation.
Holly said the bank will operate half of the 6,000 square foot building, which has housed at least four banks in the past.

A dentistry and medical clinic may occupy the remaining square footage post-renovation.
“We’ll make it into a first-class facility,” Holly said.

He said the process will take until March partially because of the installation of the new drive through lanes.

The current equipment, Holly said, is too old to purchase replacement parts.

”We’re going to take it all out and put in new overhead equipment,” he said.

Though Holly expects to occupy only 3,000 square feet, he said expansion into the rest of the building could take place if necessary.

In addition to the new location in Farmersville, Bank of the Sierra is continuing its search for increased market share with a host of possible new locations.

Holly said the bank owns a site in Selma which could be developed within the year. He is also looking at two other sites, but said no final decisions have been made on those properties.

“We continue to expand in the four-county area — we don’t plan to go outside,” Holly said.
Holly said deliberate expansion is setting the bank up for future success.

“When the economy improves, we’ll be in a much stronger position to improve with the economy,” he said.
The Farmersville bank will be headed initially by Tamra Owen, of Porterville headquarters, as well as management from the Exeter office.

Bank of the Sierra will also hire four or five people from the Farmersville area to staff its newest site.

-- Contact Sarah de Crescenzo at 784-5000, Ext. 1045, or sdecrescenzo@portervillerecorder.com.