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CEO Speaks about Local Success

The Nevada County Economic Resource Council met this morning in Grass Valley and were engaged by keynote speaker, The CEO of Tri Counties Bank, Rick Smith. Smith provided an update on the success that Tri Counties is experiencing in Nevada County which included the acquisition of assets from Citizens Bank in September of 2011. Smith gave credit to the people first.
Click here to listen to CEO, Rick Smith

Smith also said the ability to acquire some of Citizen’s assets below value was also favorable for TriCounties.
Click here to listen to CEO, Rick Smith

As a result, the assests and liabilities that Tri Counties did purchase which totals about 10% of Tri Counties’ total assests has created a situtaion where that 10% of assets is contributing more than 10% of Tri Counties’ revenue- making it a valuable resource for the bank.

When Tri Counties took over operations of Citizen’s Bank, they were able to keep all staff employed and all branches open along with Tri Counties’ original presence in the SaveMart SuperMarket in the Brunswick area. Smith says tricounties was able to that beasue they did not acquire all aspects of Citizens” operations.
Click here to listen to CEO, Rick Smith

Now that TriCounties is successful with its initial expansion into Nevada County acquiring the Citizen Banks assets, Smith hopes to keep the same community committment that Citizen’s had and looks to increase their peresence adn services.
Click here to listen to CEO, Rick Smith

Tri Counties Bank, now a publicly traded institution,  was founded in Chico, California in 1975 on 1 million dollars of privately capitilized funds now has over 60 branches from Yreka to Fresno in California.

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